Eltek Correlations

ELTK Stock

USD 10.41 0.26 2.56%

The current 90-days correlation between Eltek and Richardson Electronics is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eltek moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eltek moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eltek Correlation With Market

Weak diversification

The correlation between Eltek and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eltek and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eltek. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Eltek Stock please use our How to buy in Eltek Stock guide.

Moving together with Eltek Stock

0.73	FN	Fabrinet Tech Boost	Pair Corr
0.77	KE	Kimball Electronics	Pair Corr
0.75	KN	Knowles Cor	Pair Corr
0.94	UI	Ubiquiti Networks	Pair Corr
0.66	ERIC	Telefonaktiebolaget	Pair Corr
0.69	EVLV	Evolv Technologies	Pair Corr
0.8	EXTR	Extreme Networks	Pair Corr
0.72	FFIV	F5 Networks	Pair Corr
0.88	FLEX	Flex	Pair Corr
0.86	APH	Amphenol	Pair Corr
0.77	BDC	Belden Inc	Pair Corr
0.82	CDW	CDW Corp	Pair Corr
0.77	CLS	Celestica Tech Boost	Pair Corr
0.66	GLW	Corning Incorporated	Pair Corr
0.72	HPE	Hewlett Packard Ente	Pair Corr
0.65	IDN	Intellicheck Mobilisa	Pair Corr
0.76	JBL	Jabil Circuit Earnings Call Today	Pair Corr
0.61	LPL	LG Display	Pair Corr
0.76	MEI	Methode Electronics	Pair Corr

Moving against Eltek Stock

0.68	VIAV	Viavi Solutions	Pair Corr
0.57	FKWL	Franklin Wireless Corp	Pair Corr
0.35	UKOMW	Ucommune International	Pair Corr
0.34	MSI	Motorola Solutions	Pair Corr

Related Correlations Analysis

	MEI	OSIS	BELFA	RELL	BHE	PLXS	LYTS	LPTH	LINK	SGMA
MEI		0.86	0.39	0.0	0.24	0.8	0.2	0.83	-0.27	0.77	MEI
OSIS	0.86		0.15	-0.14	0.01	0.79	0.05	0.69	-0.38	0.55	OSIS
BELFA	0.39	0.15		0.57	0.69	0.45	0.7	0.32	0.09	0.21	BELFA
RELL	0.0	-0.14	0.57		0.63	0.25	0.81	-0.13	0.49	-0.15	RELL
BHE	0.24	0.01	0.69	0.63		0.45	0.6	0.26	0.37	0.21	BHE
PLXS	0.8	0.79	0.45	0.25	0.45		0.47	0.66	-0.05	0.52	PLXS
LYTS	0.2	0.05	0.7	0.81	0.6	0.47		0.05	0.26	0.04	LYTS
LPTH	0.83	0.69	0.32	-0.13	0.26	0.66	0.05		-0.22	0.81	LPTH
LINK	-0.27	-0.38	0.09	0.49	0.37	-0.05	0.26	-0.22		-0.21	LINK
SGMA	0.77	0.55	0.21	-0.15	0.21	0.52	0.04	0.81	-0.21		SGMA
	MEI	OSIS	BELFA	RELL	BHE	PLXS	LYTS	LPTH	LINK	SGMA

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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

OSIS	+ 0.86	MEI
LPTH	+ 0.83	MEI
LYTS	+ 0.81	RELL
SGMA	+ 0.81	LPTH
PLXS	+ 0.8	MEI
PLXS	+ 0.79	OSIS

High negative correlations

LINK	- 0.38	OSIS
LINK	- 0.27	MEI
LINK	- 0.22	LPTH
SGMA	- 0.21	LINK
SGMA	- 0.15	RELL
RELL	- 0.14	OSIS

Risk-Adjusted Indicators

There is a big difference between Eltek Stock performing well and Eltek 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 Eltek'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
MEI	2.65	0.56	0.20	0.42	2.55	(3.20)	6.58	(3.79)	17.19
OSIS	1.98	0.30	0.10	0.28	2.52	(1.95)	4.92	(3.52)	14.87
BELFA	2.66	0.10	0.03	0.09	3.66	(2.77)	4.97	(5.60)	19.05
RELL	2.42	(0.51)	0.00	(0.35)	0.00	0.00	3.89	(4.07)	24.02
BHE	2.01	0.05	0.01	2.77	3.79	(2.01)	3.53	(3.34)	25.53
PLXS	1.54	0.06	0.03	0.08	2.31	(1.70)	2.95	(2.69)	16.40
LYTS	1.74	(0.16)	0.00	(0.11)	0.00	0.00	3.58	(4.13)	15.52
LPTH	4.17	0.51	0.11	0.48	4.25	(4.92)	9.13	(8.17)	23.40
LINK	3.09	(0.18)	0.00	(5.57)	0.00	0.00	6.08	(6.60)	24.66
SGMA	6.70	2.39	0.35	(94.45)	4.34	(9.57)	12.61	(9.84)	131.24

Eltek Corporate Management

Eli Yaffe	Chief Officer	Profile
Shlomi Kisluk	Vice Assurance	Profile
Oriel Sallary	Vice Marketing	Profile
Itzik Zemach	Vice Operations	Profile
Ron Freund	Chief Officer	Profile
Ifat Atzitz	HR Manager	Profile
Sagi Balter	Vice Technology	Profile

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