Scodix Correlations

SCDX Stock

204.60 9.60 4.92%

The current 90-days correlation between Scodix and ZOOZ Strategy is -0.07 (i.e., Good diversification). The correlation of Scodix 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.

Scodix Correlation With Market

Pay attention - limited upside

The correlation between Scodix and DJI is -0.83 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scodix and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Scodix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Scodix 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 Scodix - 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 Scodix to buy it.

Moving against Scodix Stock

0.9	FEAT	Feat Fund Investments	Pair Corr
0.9	LEVI	Levinstein Eng	Pair Corr
0.87	ESLT	Elbit Systems	Pair Corr
0.85	AZRG	Azrieli Group	Pair Corr
0.84	ECNR	Econergy Renewable Energy	Pair Corr
0.81	LUMI	Bank Leumi Le	Pair Corr
0.8	TLSY	Telsys	Pair Corr
0.73	MZTF	Mizrahi Tefahot	Pair Corr
0.72	DSCT	Israel Discount Bank	Pair Corr
0.72	RATI	Ratio Oil Explorations	Pair Corr
0.65	ORA	Ormat Technologies	Pair Corr
0.57	ISCD	Isracard	Pair Corr

Related Correlations Analysis

	VISN	PRKM	AQUA	AUGN	THES	ELSPC	AUIS	FRDN	PNRG	ZOOZ
VISN		-0.03	-0.46	-0.71	-0.43	-0.44	0.27	-0.2	-0.57	0.4	VISN
PRKM	-0.03		0.51	0.11	0.43	0.06	0.04	0.39	-0.09	-0.23	PRKM
AQUA	-0.46	0.51		0.59	0.88	0.57	-0.15	0.29	0.15	-0.18	AQUA
AUGN	-0.71	0.11	0.59		0.5	0.78	-0.16	0.11	0.31	-0.32	AUGN
THES	-0.43	0.43	0.88	0.5		0.59	-0.3	0.35	0.35	-0.27	THES
ELSPC	-0.44	0.06	0.57	0.78	0.59		-0.24	-0.04	0.31	0.02	ELSPC
AUIS	0.27	0.04	-0.15	-0.16	-0.3	-0.24		-0.03	-0.41	0.35	AUIS
FRDN	-0.2	0.39	0.29	0.11	0.35	-0.04	-0.03		0.48	-0.45	FRDN
PNRG	-0.57	-0.09	0.15	0.31	0.35	0.31	-0.41	0.48		-0.3	PNRG
ZOOZ	0.4	-0.23	-0.18	-0.32	-0.27	0.02	0.35	-0.45	-0.3		ZOOZ
	VISN	PRKM	AQUA	AUGN	THES	ELSPC	AUIS	FRDN	PNRG	ZOOZ

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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

THES	+ 0.88	AQUA
ELSPC	+ 0.78	AUGN
AUGN	+ 0.59	AQUA
ELSPC	+ 0.59	THES
ELSPC	+ 0.57	AQUA
AQUA	+ 0.51	PRKM

High negative correlations

AUGN	- 0.71	VISN
PNRG	- 0.57	VISN
AQUA	- 0.46	VISN
ZOOZ	- 0.45	FRDN
ELSPC	- 0.44	VISN
THES	- 0.43	VISN

Risk-Adjusted Indicators

There is a big difference between Scodix Stock performing well and Scodix 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 Scodix'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
VISN	1.24	(0.42)	0.00	1.68	0.00	0.00	0.76	(4.64)	23.70
PRKM	0.95	(0.24)	0.00	(29.27)	0.00	0.00	2.52	(2.63)	5.71
AQUA	5.58	0.75	0.12	0.99	5.38	(7.14)	14.37	(9.51)	37.27
AUGN	5.31	1.79	0.27	(0.92)	4.79	(6.56)	19.07	(8.18)	40.37
THES	5.87	1.28	0.17	1.25	6.86	(7.17)	17.20	(8.27)	48.14
ELSPC	2.16	0.26	0.07	(0.63)	2.19	(2.45)	5.98	(3.74)	17.16
AUIS	1.07	(0.04)	0.00	0.17	0.00	0.00	3.45	(2.61)	17.16
FRDN	1.62	0.15	0.03	1.18	1.95	(2.29)	3.79	(3.69)	19.99
PNRG	3.81	0.32	0.06	1.03	4.19	(4.26)	7.40	(7.88)	32.61
ZOOZ	3.88	(1.85)	0.00	4.76	0.00	0.00	5.32	(8.21)	50.15

Scodix 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 Scodix stock to make a market-neutral strategy. Peer analysis of Scodix could also be used in its relative valuation, which is a method of valuing Scodix by comparing valuation metrics with similar companies.

Vision Sigma Parkomat International Aquarius Engines AM Augwind Energy Tech Thirdeye Systems Elspec ES Australia Israel Fridenson Phinergy ZOOZ Strategy American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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