Primotec Correlations

PRMG Stock

1,395 46.00 3.19%

The current 90-days correlation between Primotec Group and Photomyne is 0.05 (i.e., Significant diversification). The correlation of Primotec is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Primotec Correlation With Market

Good diversification

The correlation between Primotec Group and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Primotec Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Primotec could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Primotec when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Primotec - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Primotec Group to buy it.

Moving together with Primotec Stock

0.87	LUMI	Bank Leumi Le	Pair Corr
0.82	MZTF	Mizrahi Tefahot	Pair Corr
0.85	DSCT	Israel Discount Bank	Pair Corr
0.82	ORA	Ormat Technologies	Pair Corr
0.87	ILDR	Israel Land Development	Pair Corr
0.84	FTAL	Fattal 1998 Holdings	Pair Corr
0.73	BLGO	Buligo Capital	Pair Corr
0.7	QLTU	Qualitau	Pair Corr
0.73	TPGM	Top Gum Industries	Pair Corr
0.9	PHOE	Phoenix Holdings	Pair Corr
0.83	HARL	Harel Insurance Inve	Pair Corr
0.64	ABRA	Abra Information Tec	Pair Corr
0.89	NTO	Neto ME Holdings	Pair Corr
0.83	0P00013UB9	Yelin Lapidot Growth	Pair Corr
0.75	ANLT	Analyst IMS Investment	Pair Corr
0.62	FBRT	FMS Enterprises Migun	Pair Corr
0.78	MVNE	Mivne Real Estate	Pair Corr
0.73	PIU	Poalim Ibi	Pair Corr
0.92	MTDS	Meitav Dash Investments	Pair Corr

Moving against Primotec Stock

0.92	NICE	Nice	Pair Corr
0.85	ICL	ICL Israel Chemicals	Pair Corr
0.44	CRMT	Carmit	Pair Corr
0.44	NAWI	Nawi Brothers Group	Pair Corr
0.35	SPNTC	Spuntech	Pair Corr

Related Correlations Analysis

	PHTM	ROBO	IDMO	TECT	TNDO	G107	CLAB	NRGN	SPDV	AILN
PHTM		0.61	0.34	0.5	0.66	-0.38	-0.22	0.58	0.68	0.65	PHTM
ROBO	0.61		0.67	0.85	0.83	-0.41	-0.39	0.2	0.55	0.76	ROBO
IDMO	0.34	0.67		0.68	0.71	0.04	0.15	0.15	0.42	0.57	IDMO
TECT	0.5	0.85	0.68		0.88	-0.4	-0.27	0.15	0.59	0.73	TECT
TNDO	0.66	0.83	0.71	0.88		-0.35	-0.16	0.41	0.72	0.76	TNDO
G107	-0.38	-0.41	0.04	-0.4	-0.35		0.58	-0.17	-0.24	-0.57	G107
CLAB	-0.22	-0.39	0.15	-0.27	-0.16	0.58		0.14	0.0	-0.37	CLAB
NRGN	0.58	0.2	0.15	0.15	0.41	-0.17	0.14		0.65	0.34	NRGN
SPDV	0.68	0.55	0.42	0.59	0.72	-0.24	0.0	0.65		0.52	SPDV
AILN	0.65	0.76	0.57	0.73	0.76	-0.57	-0.37	0.34	0.52		AILN
	PHTM	ROBO	IDMO	TECT	TNDO	G107	CLAB	NRGN	SPDV	AILN

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TNDO	+ 0.88	TECT
TECT	+ 0.85	ROBO
TNDO	+ 0.83	ROBO
AILN	+ 0.76	ROBO
AILN	+ 0.76	TNDO
AILN	+ 0.73	TECT

High negative correlations

AILN	- 0.57	G107
G107	- 0.41	ROBO
G107	- 0.4	TECT
CLAB	- 0.39	ROBO
G107	- 0.38	PHTM
AILN	- 0.37	CLAB

Risk-Adjusted Indicators

There is a big difference between Primotec Stock performing well and Primotec Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Primotec's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PHTM	1.27	(0.33)	0.00	(0.63)	0.00	0.00	2.52	(5.21)	14.59
ROBO	2.16	(0.65)	0.00	1.70	0.00	0.00	4.43	(5.27)	17.63
IDMO	1.90	(0.41)	0.00	(0.34)	0.00	0.00	4.07	(4.90)	17.23
TECT	2.31	(0.28)	0.00	0.82	0.00	0.00	4.50	(4.72)	17.09
TNDO	1.70	(0.53)	0.00	(0.96)	0.00	0.00	2.76	(5.10)	16.99
G107	3.72	0.26	0.02	(0.14)	4.24	(4.72)	11.33	(7.65)	31.31
CLAB	1.32	(0.07)	0.00	0.16	0.00	0.00	2.83	(3.69)	17.19
NRGN	1.98	(0.26)	0.00	(0.44)	0.00	0.00	3.95	(5.93)	22.27
SPDV	0.61	(0.22)	0.00	1.28	0.00	0.00	1.03	(2.38)	7.42
AILN	2.15	(0.34)	0.00	(1.47)	0.00	0.00	6.50	(4.68)	16.03

Primotec Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Primotec stock to make a market-neutral strategy. Peer analysis of Primotec could also be used in its relative valuation, which is a method of valuing Primotec by comparing valuation metrics with similar companies.

Photomyne Robogroup Idomoo Tectona Tondo Smart Group 107 CompuLab Nrgene Technologies Speedvalue Axilion Smart Mobility American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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