Top Group Correlations
| TOPG Stock | 1,303 3.00 0.23% |
The correlation of Top Group 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.
Top Group Correlation With Market
Excellent diversification
The correlation between Top Group Software and DJI is -0.52 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Top Group Software and DJI in the same portfolio, assuming nothing else is changed.
Top |
The ability to find closely correlated positions to Top Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Top Group 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 Top Group - 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 Top Group Software to buy it.
Moving together with Top Stock
Moving against Top Stock
| 0.75 | DSCT | Israel Discount Bank | PairCorr |
| 0.69 | MZTF | Mizrahi Tefahot | PairCorr |
| 0.65 | LUMI | Bank Leumi Le | PairCorr |
| 0.38 | ORA | Ormat Technologies | PairCorr |
| 0.37 | ESLT | Elbit Systems | PairCorr |
Related Correlations Analysis
Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.
Top Group 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 Top Group stock to make a market-neutral strategy. Peer analysis of Top Group could also be used in its relative valuation, which is a method of valuing Top Group by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |