Speedvalue Correlations

SPDV Stock

323.60 5.60 1.70%

The current 90-days correlation between Speedvalue and Ratio Oil Explorations is -0.1 (i.e., Good diversification). The correlation of Speedvalue 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.

Speedvalue Correlation With Market

Very good diversification

The correlation between Speedvalue and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Speedvalue and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Speedvalue Stock

0.67	AFHL	Afcon Holdings	Pair Corr
0.56	MISH	Mivtach Shamir	Pair Corr
0.49	RMLI	Rami Levi	Pair Corr
0.46	ILDR	Israel Land Development	Pair Corr
0.46	ARAN	Aran Research	Pair Corr
0.31	RATI	Ratio Oil Explorations	Pair Corr
0.62	IBITEC-F	IBI Mutual Funds	Pair Corr
0.62	LAPD	Lapidoth	Pair Corr
0.6	IDIN	IDI Insurance	Pair Corr
0.5	DRAL	Dor Alon	Pair Corr
0.49	BLRN	Bladeranger	Pair Corr
0.44	MEDN	Mehadrin	Pair Corr
0.43	ELLO	Ellomay Capital	Pair Corr
0.41	QLTU	Qualitau	Pair Corr
0.35	MTDS	Meitav Dash Investments	Pair Corr
0.33	ORIN	Orian ShM	Pair Corr
0.33	BSEN	Bet Shemesh Engines	Pair Corr

Related Correlations Analysis

	LUMI	ICL	MZTF	AZRG	ESLT	DSCT	RATI
LUMI		-0.48	0.96	0.79	0.82	0.94	0.64	LUMI
ICL	-0.48		-0.5	-0.05	-0.3	-0.41	0.07	ICL
MZTF	0.96	-0.5		0.76	0.74	0.97	0.58	MZTF
AZRG	0.79	-0.05	0.76		0.88	0.73	0.87	AZRG
ESLT	0.82	-0.3	0.74	0.88		0.67	0.84	ESLT
DSCT	0.94	-0.41	0.97	0.73	0.67		0.56	DSCT
RATI	0.64	0.07	0.58	0.87	0.84	0.56		RATI
	LUMI	ICL	MZTF	AZRG	ESLT	DSCT	RATI

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

DSCT	+ 0.97	MZTF
MZTF	+ 0.96	LUMI
DSCT	+ 0.94	LUMI
ESLT	+ 0.88	AZRG
RATI	+ 0.87	AZRG
RATI	+ 0.84	ESLT

High negative correlations

MZTF	- 0.5	ICL
ICL	- 0.48	LUMI
DSCT	- 0.41	ICL
ESLT	- 0.3	ICL
AZRG	- 0.05	ICL

Risk-Adjusted Indicators

There is a big difference between Speedvalue Stock performing well and Speedvalue 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 Speedvalue'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
LUMI	1.14	0.29	0.18	(2.55)	1.01	(1.25)	2.89	(2.18)	6.10
ICL	1.59	(0.28)	0.00	(0.33)	0.00	0.00	2.69	(3.22)	14.78
MZTF	1.24	0.27	0.15	(1.75)	1.26	(1.40)	2.60	(1.68)	7.23
AZRG	1.48	0.48	0.33	(9.41)	0.90	(1.78)	4.08	(2.13)	10.94
ESLT	1.82	0.51	0.21	(1.92)	1.63	(2.03)	6.20	(2.89)	12.74
DSCT	1.23	0.34	0.19	(1.92)	1.23	(1.39)	3.09	(1.81)	10.42
RATI	1.30	0.08	0.01	(0.30)	1.67	(1.34)	3.06	(2.76)	6.90

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

Bank Leumi Le Israel ICL Israel Chemicals Mizrahi Tefahot Azrieli Group Elbit Systems Israel Discount Bank Ratio Oil Explorations American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

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