ICP Israel Correlations
| CTPL1 Stock | ILA 31,500 0.00 0.00% |
The correlation of ICP Israel 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ICP Israel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ICP Israel Citrus moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between ICP Israel Citrus and NYA is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ICP Israel Citrus and NYA in the same portfolio, assuming nothing else is changed.
ICP |
The ability to find closely correlated positions to ICP Israel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ICP Israel 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 ICP Israel - 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 ICP Israel Citrus to buy it.
Moving together with ICP Stock
Moving against ICP Stock
| 0.71 | DIMRI | YH Dimri Construction | PairCorr |
| 0.7 | MGDL | Migdal Insurance | PairCorr |
| 0.7 | DSCT | Israel Discount Bank Earnings Call This Week | PairCorr |
| 0.66 | HARL | Harel Insurance Inve | PairCorr |
| 0.61 | LUMI | Bank Leumi Le | PairCorr |
| 0.5 | AZRG | Azrieli Group | PairCorr |
| 0.45 | FIBIH | FIBI Holdings | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between ICP Stock performing well and ICP Israel 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 ICP Israel'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AZRG | 1.39 | 0.00 | (0.02) | 0.05 | 1.44 | 4.93 | 8.66 | |||
| MLSR | 1.30 | (0.18) | 0.00 | (0.66) | 0.00 | 3.53 | 7.42 | |||
| AMOT | 1.56 | (0.30) | 0.00 | (1.78) | 0.00 | 3.68 | 9.20 | |||
| MVNE | 1.38 | (0.25) | 0.00 | (1.00) | 0.00 | 3.10 | 8.63 | |||
| BIG | 1.31 | (0.02) | 0.00 | (0.11) | 0.00 | 4.67 | 9.24 | |||
| IBLD | 1.36 | (0.27) | 0.00 | (1.07) | 0.00 | 3.10 | 8.63 | |||
| ALHE | 1.80 | (0.29) | 0.00 | (0.61) | 0.00 | 3.33 | 12.19 | |||
| DIMRI | 1.46 | 0.08 | 0.02 | 0.56 | 1.89 | 2.69 | 9.01 | |||
| AFPR | 1.25 | (0.21) | 0.00 | (0.78) | 0.00 | 2.96 | 9.79 | |||
| ARNA | 1.78 | (0.08) | 0.00 | (0.32) | 0.00 | 3.59 | 12.08 |
ICP Israel 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 ICP Israel stock to make a market-neutral strategy. Peer analysis of ICP Israel could also be used in its relative valuation, which is a method of valuing ICP Israel by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Already Invested in ICP Israel Citrus?
The danger of trading ICP Israel Citrus is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of ICP Israel is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than ICP Israel. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile ICP Israel Citrus is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Complementary Tools for ICP Stock analysis
When running ICP Israel's price analysis, check to measure ICP Israel's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ICP Israel is operating at the current time. Most of ICP Israel's value examination focuses on studying past and present price action to predict the probability of ICP Israel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ICP Israel's price. Additionally, you may evaluate how the addition of ICP Israel to your portfolios can decrease your overall portfolio volatility.
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