Elco Correlations

Stocks . Israel . 
Stock . Elco
ELCO Stock  ILS 15,500  690.00  4.26%   
The current 90-days correlation between Elco and Alony Hetz Properties is 0.49 (i.e., Very weak diversification). The correlation of Elco 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.

Elco Correlation With Market

Good diversification

The correlation between Elco and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elco and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Elco could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elco 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 Elco - 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 Elco to buy it.

Moving together with Elco Stock

  0.76LUMI Bank Leumi LePairCorr
  0.82MZTF Mizrahi TefahotPairCorr
  0.75ALHE Alony Hetz PropertiesPairCorr
  0.81DLEKG Delek Group Earnings Call This WeekPairCorr
  0.8BIG Big Shopping CentersPairCorr
  0.83DSCT Israel Discount BankPairCorr
  0.8ROTS RotshteinPairCorr
  0.81MISH Mivtach ShamirPairCorr
  0.71STRS Strauss Group Earnings Call This WeekPairCorr
  0.85MRG Multi Retail GroupPairCorr
  0.81ORON Oron Group InvestmentsPairCorr
  0.71ELAL El Al IsraelPairCorr
  0.68INBR Inbar Group FinancePairCorr
  0.68ESLT Elbit Systems Earnings Call This WeekPairCorr
  0.72MDIN Modiin Energy LimitedPairCorr
  0.86ORIN Orian ShMPairCorr
  0.71ONE One Software TechnologiesPairCorr
  0.89ATRY Atreyu Capital MarketsPairCorr
  0.93EMDV Emilia DevelPairCorr
  0.69ARGO Argo Properties NVPairCorr
  0.77AMAN Amanet Management SystemsPairCorr
  0.65NXTG Nextage TherapeuticsPairCorr
  0.7TIGBUR Tigbur TemporaryPairCorr
  0.76KDST KadimastemPairCorr
  0.84MSKE Meshek Energy RenewablePairCorr
  0.87ISHI Israel ShipyardsPairCorr
  0.83GLRS Globrands GroupPairCorr
  0.83UTRN UtronPairCorr
  0.86ISCD IsracardPairCorr

Moving against Elco Stock

  0.75GZT Gazit GlobePairCorr
  0.57NSTR NorstarPairCorr

Related Correlations Analysis

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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   
DSCT
+ 0.9
CLIS
DLEA
+ 0.85
ALHE
DLEA
+ 0.82
CLIS
DSCT
+ 0.78
DLEA
CLIS
+ 0.72
ALHE
DSCT
+ 0.69
ALHE
  
High negative correlations   
DSCT
- 0.25
ELTR
CLIS
- 0.1
ELTR
DLEA
- 0.02
ELTR
ELTR
- 0.01
ALHE

Risk-Adjusted Indicators

There is a big difference between Elco Stock performing well and Elco 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 Elco'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Elco 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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Elco Corporate Management

Elected by the shareholders, the Elco's board of directors comprises two types of representatives: Elco inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Elco. The board's role is to monitor Elco's management team and ensure that shareholders' interests are well served. Elco'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, Elco's outside directors are responsible for providing unbiased perspectives on the board's policies.
Daniel ZalkindCoCEO DirectorProfile
Itamar DeutscherChief LtdProfile
Yoram BadashCoMa RetailProfile
Zvika SchwimmerCEO LtdProfile
Hillel LavieChief AuditorProfile
Eliezer VesselyChief OfficerProfile
Shmuel MendzickiCoMa RetailProfile
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