Cellcom Israel Correlations

CEL Stock

ILA 2,293 66.00 2.80%

The current 90-days correlation between Cellcom Israel and Arad Investment Industrial is 0.34 (i.e., Weak diversification). The correlation of Cellcom 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Cellcom Israel Correlation With Market

Average diversification

The correlation between Cellcom Israel and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cellcom Israel and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Cellcom 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 Cellcom 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 Cellcom 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 Cellcom Israel to buy it.

Moving together with Cellcom Stock

0.74	ATRY	Atreyu Capital Markets	Pair Corr
0.89	BEZQ	Bezeq Israeli Teleco	Pair Corr
0.74	ROTS	Rotshtein	Pair Corr
0.62	ELMR	El Mor Electric	Pair Corr

Moving against Cellcom Stock

0.32

ADGR

Adgar Investments

Pair Corr

Related Correlations Analysis

	HRON	SEMG	RMON	ARAD	GKL	RSEL	BCOM	GLTL
HRON		-0.42	0.47	0.64	0.79	-0.65	0.18	0.79	HRON
SEMG	-0.42		-0.25	-0.43	-0.31	0.66	0.35	-0.62	SEMG
RMON	0.47	-0.25		0.77	0.78	-0.36	0.48	0.19	RMON
ARAD	0.64	-0.43	0.77		0.69	-0.79	0.07	0.55	ARAD
GKL	0.79	-0.31	0.78	0.69		-0.44	0.48	0.46	GKL
RSEL	-0.65	0.66	-0.36	-0.79	-0.44		0.37	-0.77	RSEL
BCOM	0.18	0.35	0.48	0.07	0.48	0.37		-0.27	BCOM
GLTL	0.79	-0.62	0.19	0.55	0.46	-0.77	-0.27		GLTL
	HRON	SEMG	RMON	ARAD	GKL	RSEL	BCOM	GLTL

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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

GKL	+ 0.79	HRON
GLTL	+ 0.79	HRON
GKL	+ 0.78	RMON
ARAD	+ 0.77	RMON
GKL	+ 0.69	ARAD
RSEL	+ 0.66	SEMG

High negative correlations

RSEL	- 0.79	ARAD
GLTL	- 0.77	RSEL
RSEL	- 0.65	HRON
GLTL	- 0.62	SEMG
RSEL	- 0.44	GKL
ARAD	- 0.43	SEMG

Risk-Adjusted Indicators

There is a big difference between Cellcom Stock performing well and Cellcom 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 Cellcom 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
HRON	0.83	(0.07)	0.00	(0.29)	0.00	0.00	1.55	(2.89)	9.41
SEMG	1.85	0.14	0.07	0.83	2.59	(1.92)	4.67	(5.45)	10.51
RMON	1.64	(0.08)	0.00	(5.47)	0.00	0.00	3.39	(5.00)	13.82
ARAD	2.37	(0.63)	0.00	5.98	0.00	0.00	5.04	(5.37)	12.54
GKL	1.03	0.04	0.04	0.05	1.31	(1.81)	3.79	(2.78)	10.67
RSEL	3.07	2.10	0.83	2.19	1.37	(4.06)	7.73	(3.84)	13.69
BCOM	1.79	0.32	0.14	0.36	2.30	(2.14)	4.43	(3.40)	15.49
GLTL	1.76	(0.13)	0.00	(0.64)	0.00	0.00	3.63	(3.93)	12.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cellcom Israel without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Cellcom Israel Corporate Management

Elected by the shareholders, the Cellcom Israel's board of directors comprises two types of representatives: Cellcom Israel inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Cellcom. The board's role is to monitor Cellcom Israel's management team and ensure that shareholders' interests are well served. Cellcom Israel's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Cellcom Israel's outside directors are responsible for providing unbiased perspectives on the board's policies.

Ilan Sigal	VP Telecom	Profile
Ronnen Shles	Controller	Profile
Daniel Sapir	Chief Officer	Profile
Victor Malka	Chief Information Officer	Profile

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