Tel Aviv Correlations

TASE Stock

ILA 12,340 250.00 1.99%

The current 90-days correlation between Tel Aviv Stock and Isracard is -0.01 (i.e., Good diversification). The correlation of Tel Aviv 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.

Tel Aviv Correlation With Market

Very weak diversification

The correlation between Tel Aviv Stock and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tel Aviv Stock and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tel Stock

0.93	TRX	Terminal X Online	Pair Corr
0.92	MORE-S8	More Mutual Funds	Pair Corr
0.88	GILT	Gilat Satellite Networks	Pair Corr

Moving against Tel Stock

0.46	DELT	Delta Galil Industries	Pair Corr
0.43	ICL	ICL Israel Chemicals	Pair Corr

Related Correlations Analysis

	MTAV	FIBIH	ISCD	IBI	MRIN	MISH	IDIN	MGDL	DIFI	NAWI
MTAV		0.77	0.34	0.9	0.56	0.9	0.57	0.8	-0.35	0.56	MTAV
FIBIH	0.77		0.52	0.82	0.74	0.76	0.86	0.87	0.04	0.28	FIBIH
ISCD	0.34	0.52		0.29	0.81	0.59	0.64	0.55	0.18	0.17	ISCD
IBI	0.9	0.82	0.29		0.56	0.91	0.58	0.83	-0.33	0.58	IBI
MRIN	0.56	0.74	0.81	0.56		0.68	0.85	0.78	0.23	0.41	MRIN
MISH	0.9	0.76	0.59	0.91	0.68		0.59	0.88	-0.37	0.64	MISH
IDIN	0.57	0.86	0.64	0.58	0.85	0.59		0.77	0.36	0.12	IDIN
MGDL	0.8	0.87	0.55	0.83	0.78	0.88	0.77		-0.16	0.48	MGDL
DIFI	-0.35	0.04	0.18	-0.33	0.23	-0.37	0.36	-0.16		-0.32	DIFI
NAWI	0.56	0.28	0.17	0.58	0.41	0.64	0.12	0.48	-0.32		NAWI
	MTAV	FIBIH	ISCD	IBI	MRIN	MISH	IDIN	MGDL	DIFI	NAWI

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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

MISH	+ 0.91	IBI
IBI	+ 0.9	MTAV
MISH	+ 0.9	MTAV
MGDL	+ 0.88	MISH
MGDL	+ 0.87	FIBIH
IDIN	+ 0.86	FIBIH

High negative correlations

DIFI	- 0.37	MISH
DIFI	- 0.35	MTAV
DIFI	- 0.33	IBI
NAWI	- 0.32	DIFI
DIFI	- 0.16	MGDL

Risk-Adjusted Indicators

There is a big difference between Tel Stock performing well and Tel Aviv 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 Tel Aviv'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
MTAV	1.88	0.36	0.14	0.68	2.13	(2.16)	4.58	(4.97)	13.02
FIBIH	1.02	0.17	0.09	3.07	1.30	(1.11)	2.14	(1.76)	7.23
ISCD	1.19	0.11	0.06	0.27	1.38	(1.22)	2.88	(2.04)	11.71
IBI	1.68	0.86	0.55	(4.37)	0.57	(2.18)	6.59	(2.29)	10.39
MRIN	2.21	0.24	0.08	(0.64)	2.16	(2.48)	4.42	(4.27)	14.23
MISH	1.67	0.53	0.25	1.43	1.50	(1.97)	3.40	(3.17)	15.33
IDIN	1.74	0.41	0.17	(1.06)	1.58	(2.30)	4.20	(2.57)	16.92
MGDL	2.06	0.56	0.20	2.68	2.04	(2.36)	5.74	(3.47)	13.99
DIFI	1.67	0.01	(0.01)	0.25	2.16	(1.86)	4.56	(3.93)	13.28
NAWI	1.12	0.11	0.04	(1.45)	1.28	(1.13)	3.16	(2.57)	6.59

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tel Aviv 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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Tel Aviv Corporate Management

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

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Zohar Sela	Ex HR	Profile
Sarit Leviathan	Chief VP	Profile
Liran Gordon	EVP Communication	Profile
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Hanna ShitritBach	Ex Department	Profile

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