Tera Light Correlations

TRLT Stock

1,767 27.00 1.51%

The current 90-days correlation between Tera Light and Ratio Oil Explorations is 0.11 (i.e., Average diversification). The correlation of Tera Light 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.

Tera Light Correlation With Market

Very poor diversification

The correlation between Tera Light and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tera Light and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tera Stock

0.82	LUMI	Bank Leumi Le	Pair Corr
0.77	MZTF	Mizrahi Tefahot Earnings Call Next Week	Pair Corr
0.96	AZRG	Azrieli Group	Pair Corr
0.86	ESLT	Elbit Systems	Pair Corr
0.65	ORA	Ormat Technologies Earnings Call This Week	Pair Corr
0.86	RATI	Ratio Oil Explorations	Pair Corr
0.76	MISH	Mivtach Shamir	Pair Corr
0.61	TATT	TAT Technologies	Pair Corr
0.83	PMNT	Payment Financial	Pair Corr
0.64	SHVA	Automatic Bank Services	Pair Corr
0.75	RMLI	Rami Levi	Pair Corr
0.92	MAXO	Max Stock	Pair Corr
0.82	NERZ	New Horizon Group	Pair Corr
0.7	ASHO	Ashot Ashkelon Industries	Pair Corr
0.81	ILDR	Israel Land Development	Pair Corr
0.68	ARAN	Aran Research	Pair Corr
0.94	ELCRE	Electra Real Estate	Pair Corr
0.65	ALHE	Alony Hetz Properties	Pair Corr
0.67	HGG	Hagag Group	Pair Corr
0.93	ENLT	Enlight Renewable Energy	Pair Corr
0.7	CLIS	Clal Insurance Enter	Pair Corr
0.79	AMDA	Almeda Ventures	Pair Corr
0.87	BYSD	Bayside Land	Pair Corr
0.78	BLSR	Blue Square Real	Pair Corr
0.66	QLTU	Qualitau	Pair Corr
0.95	LEVI	Levinstein Eng	Pair Corr
0.84	ARYT	Aryt Industries	Pair Corr
0.62	DRAL	Dor Alon	Pair Corr
0.9	BEZQ	Bezeq Israeli Teleco	Pair Corr
0.64	BLRN	Bladeranger	Pair Corr

Moving against Tera Stock

0.34

NICE

Nice Earnings Call Tomorrow

Pair Corr

Related Correlations Analysis

	LUMI	ICL	MZTF	AZRG	ESLT	DSCT	RATI
LUMI		-0.18	0.96	0.79	0.82	0.17	0.64	LUMI
ICL	-0.18		-0.17	0.13	-0.03	-0.11	0.22	ICL
MZTF	0.96	-0.17		0.76	0.74	0.26	0.58	MZTF
AZRG	0.79	0.13	0.76		0.88	0.42	0.87	AZRG
ESLT	0.82	-0.03	0.74	0.88		0.12	0.84	ESLT
DSCT	0.17	-0.11	0.26	0.42	0.12		0.37	DSCT
RATI	0.64	0.22	0.58	0.87	0.84	0.37		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

MZTF	+ 0.96	LUMI
ESLT	+ 0.88	AZRG
RATI	+ 0.87	AZRG
RATI	+ 0.84	ESLT
ESLT	+ 0.82	LUMI
AZRG	+ 0.79	LUMI

High negative correlations

ICL	- 0.18	LUMI
MZTF	- 0.17	ICL
DSCT	- 0.11	ICL
ESLT	- 0.03	ICL

Risk-Adjusted Indicators

There is a big difference between Tera Stock performing well and Tera Light 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 Tera Light'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	0.28	0.19	0.81	1.01	(1.25)	2.89	(2.18)	6.10
ICL	1.43	(0.05)	0.00	(0.06)	0.00	0.00	3.24	(3.22)	9.35
MZTF	1.24	0.25	0.15	1.20	1.26	(1.40)	2.60	(1.68)	7.23
AZRG	1.48	0.49	0.34	(2.06)	0.90	(1.78)	4.08	(2.13)	10.94
ESLT	1.82	0.48	0.22	1.47	1.63	(2.03)	6.20	(2.89)	12.74
DSCT	1.29	0.34	0.19	4.84	1.28	(1.47)	3.22	(1.98)	10.42
RATI	1.30	0.05	0.02	0.16	1.67	(1.34)	3.06	(2.76)	6.90

Tera Light 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 Tera Light stock to make a market-neutral strategy. Peer analysis of Tera Light could also be used in its relative valuation, which is a method of valuing Tera Light 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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