Scope Metals Correlations

SCOP Stock

ILA 19,700 180.00 0.91%

The current 90-days correlation between Scope Metals Group and Palram is 0.14 (i.e., Average diversification). The correlation of Scope Metals 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.

Scope Metals Correlation With Market

Very poor diversification

The correlation between Scope Metals Group and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scope Metals Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Scope Stock

0.87	ORIN	Orian ShM	Pair Corr
0.91	PIU	Poalim Ibi	Pair Corr
0.89	BEZQ	Bezeq Israeli Teleco	Pair Corr
0.8	BYSD	Bayside Land	Pair Corr
0.68	AFHL	Afcon Holdings	Pair Corr
0.76	ALHE	Alony Hetz Properties	Pair Corr
0.77	FIBI	First International Bank	Pair Corr
0.89	MTDS	Meitav Dash Investments	Pair Corr
0.95	SNFL	Sunflow Sustain	Pair Corr
0.86	BIOV	Bio View	Pair Corr
0.88	BLSR	Blue Square Real	Pair Corr
0.85	PAYT	Payton L	Pair Corr
0.84	CAMT	Camtek Earnings Call This Week	Pair Corr
0.78	AFRE	Africa Israel Residences	Pair Corr
0.73	PZOL	Paz Oil	Pair Corr
0.74	PHOE	Phoenix Holdings	Pair Corr
0.78	NERZ	New Horizon Group	Pair Corr
0.84	PMNT	Payment Financial	Pair Corr
0.82	GSFI	Gan Shmuel	Pair Corr
0.9	STCM	Satcom Systems	Pair Corr
0.61	AVER	Averbuch Formica Center	Pair Corr
0.69	FIBIH	FIBI Holdings	Pair Corr
0.69	CLIS	Clal Insurance Enter	Pair Corr
0.92	TIGBUR	Tigbur Temporary	Pair Corr
0.83	GAGR	Gaon Group	Pair Corr
0.83	KNFM	Knafaim	Pair Corr

Moving against Scope Stock

0.6	BYAR	B Yair Building	Pair Corr
0.59	DLEA	Delek Automotive Systems	Pair Corr

Related Correlations Analysis

	PLRM	PLSN	FBRT	LEVI	TATT	CDEV	ASHO	LUZN	RMON	ORBI
PLRM		0.55	-0.64	-0.53	-0.48	0.86	-0.56	-0.76	-0.7	-0.31	PLRM
PLSN	0.55		-0.68	-0.72	-0.53	0.59	-0.75	-0.78	-0.81	0.1	PLSN
FBRT	-0.64	-0.68		0.93	0.9	-0.64	0.96	0.92	0.89	0.27	FBRT
LEVI	-0.53	-0.72	0.93		0.87	-0.5	0.97	0.93	0.92	0.17	LEVI
TATT	-0.48	-0.53	0.9	0.87		-0.53	0.87	0.85	0.8	0.14	TATT
CDEV	0.86	0.59	-0.64	-0.5	-0.53		-0.56	-0.71	-0.69	-0.18	CDEV
ASHO	-0.56	-0.75	0.96	0.97	0.87	-0.56		0.93	0.92	0.2	ASHO
LUZN	-0.76	-0.78	0.92	0.93	0.85	-0.71	0.93		0.96	0.2	LUZN
RMON	-0.7	-0.81	0.89	0.92	0.8	-0.69	0.92	0.96		0.07	RMON
ORBI	-0.31	0.1	0.27	0.17	0.14	-0.18	0.2	0.2	0.07		ORBI
	PLRM	PLSN	FBRT	LEVI	TATT	CDEV	ASHO	LUZN	RMON	ORBI

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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

ASHO	+ 0.97	LEVI
ASHO	+ 0.96	FBRT
RMON	+ 0.96	LUZN
LEVI	+ 0.93	FBRT
LUZN	+ 0.93	LEVI
LUZN	+ 0.93	ASHO

High negative correlations

RMON	- 0.81	PLSN
LUZN	- 0.78	PLSN
LUZN	- 0.76	PLRM
ASHO	- 0.75	PLSN
LEVI	- 0.72	PLSN
LUZN	- 0.71	CDEV

Risk-Adjusted Indicators

There is a big difference between Scope Stock performing well and Scope Metals 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 Scope Metals' 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
PLRM	1.55	(0.44)	0.00	1.48	0.00	0.00	2.76	(3.03)	15.95
PLSN	1.05	(0.14)	0.00	(2.42)	0.00	0.00	2.14	(2.78)	6.66
FBRT	1.45	0.40	0.18	1.72	1.43	(1.80)	3.98	(2.60)	11.53
LEVI	1.26	0.41	0.31	(7.48)	0.75	(1.63)	3.58	(1.72)	7.28
TATT	2.28	0.15	0.04	0.79	2.52	(2.60)	4.99	(4.30)	14.62
CDEV	1.19	(0.06)	0.00	(0.45)	0.00	0.00	2.45	(1.97)	8.15
ASHO	2.08	0.82	0.27	1.53	2.14	(2.40)	5.24	(4.68)	18.29
LUZN	1.12	0.44	0.32	3.60	0.74	(1.33)	3.19	(1.86)	7.60
RMON	2.22	0.64	0.19	2.81	2.25	(2.79)	5.00	(3.68)	14.85
ORBI	0.85	0.12	0.03	(0.13)	0.78	(1.13)	1.43	(1.45)	15.18

Be your own money manager

Our tools can tell you how much better you can do entering a position in Scope Metals without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Scope Metals Corporate Management

Elected by the shareholders, the Scope Metals' board of directors comprises two types of representatives: Scope Metals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Scope. The board's role is to monitor Scope Metals' management team and ensure that shareholders' interests are well served. Scope Metals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Scope Metals' outside directors are responsible for providing unbiased perspectives on the board's policies.

Ilan Toledano	Chief Officer	Profile
Yoram Abraham	Chief SRO	Profile
Zvika CPA	Controller	Profile
Gilad Fishman	Chief Trading	Profile
Gil CPA	Chief Officer	Profile
Alex Master	Chief Alinox	Profile
Boaz Leshem	Chief Solutions	Profile

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