Formula Systems Correlations

FORTY Stock

USD 127.00 0.00 0.00%

The current 90-days correlation between Formula Systems 1985 and Nayax is -0.18 (i.e., Good diversification). The correlation of Formula Systems 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Formula Systems Correlation With Market

Good diversification

The correlation between Formula Systems 1985 and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Formula Systems 1985 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Formula Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Formula Systems 1985. 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.

Moving together with Formula Stock

0.66	KD	Kyndryl Holdings Earnings Call This Week	Pair Corr
0.69	VNET	VNET Group DRC	Pair Corr
0.81	VRRM	Verra Mobility Corp Earnings Call This Week	Pair Corr
0.74	CTM	Castellum	Pair Corr
0.64	FIS	Fidelity National Earnings Call Today	Pair Corr
0.81	GDS	GDS Holdings	Pair Corr
0.79	IBM	International Business	Pair Corr
0.66	III	Information Services Earnings Call This Week	Pair Corr
0.64	JFU	9F Inc	Pair Corr
0.9	PSN	Parsons Corp	Pair Corr
0.92	VYX	NCR Voyix	Pair Corr
0.78	IBEX	IBEX	Pair Corr
0.84	INOD	Innodata Earnings Call Tomorrow	Pair Corr
0.68	LDOS	Leidos Holdings	Pair Corr

Moving against Formula Stock

0.77	IT	Gartner Earnings Call This Week	Pair Corr
0.67	AUR	Aurora Innovation Earnings Call Today	Pair Corr
0.62	GIB	CGI Inc Earnings Call Today	Pair Corr
0.54	FI	Fiserv,	Pair Corr
0.52	ACN	Accenture plc	Pair Corr
0.48	DXC	DXC Technology Earnings Call This Week	Pair Corr
0.83	GDYN	Grid Dynamics Holdings Earnings Call Today	Pair Corr
0.81	GLOB	Globant SA	Pair Corr
0.73	JDZG	JIADE LIMITED Common	Pair Corr
0.57	WYY	Widepoint C	Pair Corr
0.41	HCKT	Hackett Group Earnings Call This Week	Pair Corr
0.34	UIS	Unisys Earnings Call Today	Pair Corr
0.9	ARBB	ARB IOT Group	Pair Corr
0.82	AUROW	Aurora Innovation	Pair Corr

Related Correlations Analysis

	HCKT	CSPI	NYAX	MGIC	SPNS	EMITF	ITRN	BOSC
HCKT		0.51	-0.24	-0.4	-0.3	0.0	-0.34	-0.5	HCKT
CSPI	0.51		-0.7	-0.77	-0.65	0.0	-0.56	-0.9	CSPI
NYAX	-0.24	-0.7		0.61	0.53	0.0	0.48	0.75	NYAX
MGIC	-0.4	-0.77	0.61		0.8	0.0	0.88	0.86	MGIC
SPNS	-0.3	-0.65	0.53	0.8		0.0	0.68	0.76	SPNS
EMITF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	EMITF
ITRN	-0.34	-0.56	0.48	0.88	0.68	0.0		0.71	ITRN
BOSC	-0.5	-0.9	0.75	0.86	0.76	0.0	0.71		BOSC
	HCKT	CSPI	NYAX	MGIC	SPNS	EMITF	ITRN	BOSC

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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

ITRN	+ 0.88	MGIC
BOSC	+ 0.86	MGIC
SPNS	+ 0.8	MGIC
BOSC	+ 0.76	SPNS
BOSC	+ 0.75	NYAX
BOSC	+ 0.71	ITRN

High negative correlations

BOSC	- 0.9	CSPI
MGIC	- 0.77	CSPI
NYAX	- 0.7	CSPI
SPNS	- 0.65	CSPI
ITRN	- 0.56	CSPI
BOSC	- 0.5	HCKT

Risk-Adjusted Indicators

There is a big difference between Formula Stock performing well and Formula Systems 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 Formula Systems' 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
HCKT	1.32	(0.38)	0.00	(0.09)	0.00	0.00	2.77	(2.47)	10.55
CSPI	2.93	(0.49)	0.00	(1.38)	0.00	0.00	4.76	(5.49)	20.20
NYAX	2.04	0.01	(0.01)	0.20	2.32	(2.48)	4.50	(3.81)	13.15
MGIC	1.63	0.46	0.25	0.57	1.38	(1.90)	5.34	(2.76)	11.06
SPNS	1.07	(0.04)	(0.04)	0.14	1.62	(1.07)	2.04	(2.25)	9.64
EMITF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ITRN	1.17	0.09	0.05	0.28	1.28	(1.30)	2.87	(2.43)	10.06
BOSC	2.07	0.45	0.14	1.78	1.86	(2.51)	4.42	(3.65)	25.16

Formula Systems Corporate Management

Maya SolomonElla	Chief Officer	Profile
Guy CPA	Chief Officer	Profile
Tammy Koll	Chief Officer	Profile
Asaf CPA	Chief Officer	Profile
Asaf Berenstin	Chief Officer	Profile

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