Electra Correlations

Stocks . Israel . 
Stock . Electra
ELTR Stock  ILS 184,940  4,570  2.41%   
The current 90-days correlation between Electra and Alony Hetz Properties is 0.46 (i.e., Very weak diversification). The correlation of Electra 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.

Electra Correlation With Market

Good diversification

The correlation between Electra 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 Electra and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Electra could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Electra 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 Electra - 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 Electra to buy it.

Moving together with Electra Stock

  0.69NSTR NorstarPairCorr

Moving against Electra Stock

  0.56ELAL El Al IsraelPairCorr
  0.5GFC GFC Green FieldsPairCorr
  0.46INBR Inbar Group FinancePairCorr
  0.44ESLT Elbit Systems Earnings Call This WeekPairCorr
  0.43MISH Mivtach ShamirPairCorr
  0.4AMRK Amir MarketingPairCorr
  0.39LUMI Bank Leumi LePairCorr
  0.38DLEKG Delek Group Earnings Call This WeekPairCorr
  0.37STRS Strauss Group Earnings Call This WeekPairCorr
  0.37ELDAV Eldav LPairCorr
  0.35DSCT Israel Discount BankPairCorr
  0.58EMTC Elbit Med TechPairCorr
  0.47KDST KadimastemPairCorr
  0.45UTRN UtronPairCorr
  0.44ACCL Accel Solutions GroupPairCorr
  0.42AMAN Amanet Management SystemsPairCorr
  0.42SHGR Shagrir Group VehiclePairCorr
  0.42PTCH PetrochemicalPairCorr
  0.4RATI-L Ratio Energies LPPairCorr
  0.4NXTM NextcomPairCorr
  0.38MSKE Meshek Energy RenewablePairCorr
  0.34DIFI Direct Finance TAPairCorr

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   
FIBI
+ 0.85
DSCT
DSCT
+ 0.67
ALHE
FIBI
+ 0.55
ALHE
FIBI
+ 0.33
SAE
MLSR
+ 0.23
ALHE
SAE
+ 0.23
MLSR
  
High negative correlations   
DSCT
- 0.11
MLSR

Risk-Adjusted Indicators

There is a big difference between Electra Stock performing well and Electra 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 Electra'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 Electra 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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