Speedvalue Correlations

SPDV Stock

301.00 2.00 0.66%

The current 90-days correlation between Speedvalue and Tondo Smart is 0.21 (i.e., Modest 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

Good diversification

The correlation between Speedvalue and DJI is -0.13 (i.e., 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

0.69	ANLT	Analyst IMS Investment	Pair Corr
0.68	TPGM	Top Gum Industries	Pair Corr
0.67	QLTU	Qualitau	Pair Corr
0.63	ESLT	Elbit Systems	Pair Corr
0.63	IDIN	IDI Insurance	Pair Corr
0.62	BLGO	Buligo Capital	Pair Corr
0.62	PRIM	Prime Energy PE	Pair Corr
0.6	FBRT	FMS Enterprises Migun	Pair Corr
0.57	FTAL	Fattal 1998 Holdings	Pair Corr
0.55	DSCT	Israel Discount Bank	Pair Corr
0.55	HARL	Harel Insurance Inve	Pair Corr
0.52	LUMI	Bank Leumi Le	Pair Corr
0.52	ILDR	Israel Land Development	Pair Corr
0.52	BLND	Blender Financial	Pair Corr
0.5	EMTC-M	Elbit Medical Techno	Pair Corr
0.5	0P00013UB9	Yelin Lapidot Growth	Pair Corr
0.49	MZTF	Mizrahi Tefahot	Pair Corr
0.44	NTO	Neto ME Holdings	Pair Corr
0.38	PHOE	Phoenix Holdings	Pair Corr
0.35	BSEN	Bet Shemesh Engines	Pair Corr
0.74	TTAM	Tiv Taam	Pair Corr
0.71	YHNF	M Yochananof	Pair Corr
0.7	GLTL	Gilat Telecom Global	Pair Corr
0.63	NXSN	Next Vision Stabilized	Pair Corr
0.59	AFPR	Afi Properties	Pair Corr
0.56	ISOP-L	Israel Opportunity	Pair Corr
0.53	ISTA	Issta Lines	Pair Corr
0.5	PLNT	Plantarc Bio	Pair Corr
0.49	MEDN	Mehadrin	Pair Corr
0.42	PIU	Poalim Ibi	Pair Corr
0.41	MTDS	Meitav Dash Investments	Pair Corr

Related Correlations Analysis

	TNDO	ROBO	PMVM	IDMO	CLAB	PHTM	TECT	NRGN
TNDO		0.83	0.28	0.71	-0.16	0.66	0.88	0.41	TNDO
ROBO	0.83		0.37	0.67	-0.39	0.61	0.85	0.2	ROBO
PMVM	0.28	0.37		0.68	0.02	-0.01	0.38	-0.25	PMVM
IDMO	0.71	0.67	0.68		0.15	0.34	0.68	0.15	IDMO
CLAB	-0.16	-0.39	0.02	0.15		-0.22	-0.27	0.14	CLAB
PHTM	0.66	0.61	-0.01	0.34	-0.22		0.5	0.58	PHTM
TECT	0.88	0.85	0.38	0.68	-0.27	0.5		0.15	TECT
NRGN	0.41	0.2	-0.25	0.15	0.14	0.58	0.15		NRGN
	TNDO	ROBO	PMVM	IDMO	CLAB	PHTM	TECT	NRGN

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

TECT	+ 0.88	TNDO
TECT	+ 0.85	ROBO
ROBO	+ 0.83	TNDO
IDMO	+ 0.71	TNDO
IDMO	+ 0.68	PMVM
TECT	+ 0.68	IDMO

High negative correlations

CLAB	- 0.39	ROBO
TECT	- 0.27	CLAB
NRGN	- 0.25	PMVM
PHTM	- 0.22	CLAB
CLAB	- 0.16	TNDO
PHTM	- 0.01	PMVM

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
TNDO	1.70	(0.53)	0.00	(0.96)	0.00	0.00	2.76	(5.10)	16.99
ROBO	2.16	(0.65)	0.00	1.70	0.00	0.00	4.43	(5.27)	17.63
PMVM	2.48	(0.07)	(0.02)	0.01	2.83	(3.43)	6.85	(5.52)	24.13
IDMO	1.90	(0.41)	0.00	(0.34)	0.00	0.00	4.07	(4.90)	17.23
CLAB	1.32	(0.07)	0.00	0.16	0.00	0.00	2.83	(3.69)	17.19
PHTM	1.27	(0.33)	0.00	(0.63)	0.00	0.00	2.52	(5.21)	14.59
TECT	2.31	(0.28)	0.00	0.82	0.00	0.00	4.50	(4.72)	17.09
NRGN	1.98	(0.26)	0.00	(0.44)	0.00	0.00	3.95	(5.93)	22.27

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.

Tondo Smart Robogroup Pomvom Idomoo CompuLab Photomyne Tectona Nrgene Technologies American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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