ZOOZ Strategy Correlations

ZOOZ Stock

167.20 0.90 0.54%

The current 90-days correlation between ZOOZ Strategy and Plastofil L is -0.12 (i.e., Good diversification). The correlation of ZOOZ Strategy 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.

ZOOZ Strategy Correlation With Market

Modest diversification

The correlation between ZOOZ Strategy and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ZOOZ Strategy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ZOOZ Stock

0.9	NICE	Nice	Pair Corr
0.81	ICL	ICL Israel Chemicals	Pair Corr

Moving against ZOOZ Stock

0.87	MTDS	Meitav Dash Investments	Pair Corr
0.84	LUMI	Bank Leumi Le	Pair Corr
0.83	MZTF	Mizrahi Tefahot	Pair Corr
0.82	ORA	Ormat Technologies	Pair Corr
0.8	DSCT	Israel Discount Bank	Pair Corr
0.56	ELTR	Electra Split	Pair Corr
0.34	AZRG	Azrieli Group	Pair Corr

Related Correlations Analysis

	PPIL	GNGR	BRIL	AVER	SKLN	ZOOZ	RVL	AVIA	SHNP	FRSX
PPIL		-0.26	0.34	-0.06	0.89	0.73	-0.84	0.09	-0.65	0.91	PPIL
GNGR	-0.26		0.34	0.4	-0.15	-0.03	0.32	0.39	0.37	-0.2	GNGR
BRIL	0.34	0.34		0.47	0.5	0.63	-0.2	0.11	0.12	0.38	BRIL
AVER	-0.06	0.4	0.47		0.02	0.37	0.18	-0.23	0.48	-0.13	AVER
SKLN	0.89	-0.15	0.5	0.02		0.73	-0.84	0.13	-0.5	0.94	SKLN
ZOOZ	0.73	-0.03	0.63	0.37	0.73		-0.51	-0.1	-0.11	0.64	ZOOZ
RVL	-0.84	0.32	-0.2	0.18	-0.84	-0.51		-0.14	0.71	-0.84	RVL
AVIA	0.09	0.39	0.11	-0.23	0.13	-0.1	-0.14		-0.24	0.27	AVIA
SHNP	-0.65	0.37	0.12	0.48	-0.5	-0.11	0.71	-0.24		-0.63	SHNP
FRSX	0.91	-0.2	0.38	-0.13	0.94	0.64	-0.84	0.27	-0.63		FRSX
	PPIL	GNGR	BRIL	AVER	SKLN	ZOOZ	RVL	AVIA	SHNP	FRSX

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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

FRSX	+ 0.94	SKLN
FRSX	+ 0.91	PPIL
SKLN	+ 0.89	PPIL
ZOOZ	+ 0.73	PPIL
ZOOZ	+ 0.73	SKLN
SHNP	+ 0.71	RVL

High negative correlations

FRSX	- 0.84	RVL
RVL	- 0.84	SKLN
RVL	- 0.84	PPIL
SHNP	- 0.65	PPIL
FRSX	- 0.63	SHNP
RVL	- 0.51	ZOOZ

Risk-Adjusted Indicators

There is a big difference between ZOOZ Stock performing well and ZOOZ Strategy 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 ZOOZ Strategy'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
PPIL	0.97	(0.26)	0.00	0.90	0.00	0.00	1.07	(3.12)	7.48
GNGR	0.99	0.14	0.04	(1.16)	0.92	(1.29)	2.67	(1.73)	6.38
BRIL	2.23	0.00	0.00	0.09	2.46	(3.05)	3.35	(3.88)	35.99
AVER	2.73	0.23	0.02	(0.25)	2.95	(3.62)	8.63	(5.49)	21.53
SKLN	1.38	(0.76)	0.00	3.60	0.00	0.00	2.08	(3.98)	11.66
ZOOZ	4.95	(2.07)	0.00	(0.48)	0.00	0.00	8.40	(10.49)	73.46
RVL	1.65	0.17	0.07	0.45	1.61	(1.97)	4.00	(2.83)	11.35
AVIA	1.54	0.03	0.00	0.15	2.34	(1.79)	4.17	(3.75)	16.23
SHNP	1.30	0.01	(0.04)	0.18	1.88	(1.29)	2.72	(3.09)	7.66
FRSX	2.98	(0.73)	0.00	1.06	0.00	0.00	5.60	(6.06)	25.26

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

Plastofil L Ginegar Brill Shoe Industries Averbuch Formica Center Skyline Investments ZOOZ Strategy Raval ACS Aviation Links Schnapp Foresight Autonomous Holdings American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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