G City Correlations

GCT Stock   1,197  26.00  2.22%   
The current 90-days correlation between G City and Harel Insurance Investments is 0.26 (i.e., Modest diversification). The correlation of G City 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.

G City Correlation With Market

Good diversification

The correlation between G City and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding G City and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to G City could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace G City 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 G City - 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 G City to buy it.

Moving together with GCT Stock

  0.82NICE NicePairCorr

Moving against GCT Stock

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  0.8SHGR Shagrir Group VehiclePairCorr
  0.78LUMI Bank Leumi LePairCorr
  0.76DSCT Israel Discount BankPairCorr
  0.74ICL ICL Israel ChemicalsPairCorr
  0.74ELAL El Al IsraelPairCorr
  0.71TUZA Teuza A Fairchild Earnings Call This WeekPairCorr
  0.71GOLF Golf Co GroupPairCorr
  0.69KNFM KnafaimPairCorr
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  0.61MZTF Mizrahi TefahotPairCorr
  0.61DLEKG Delek Group Earnings Call This WeekPairCorr
  0.6AMAN Amanet Management SystemsPairCorr
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  0.55ASHO Ashot Ashkelon IndustriesPairCorr
  0.55ROTS RotshteinPairCorr
  0.52ORON Oron Group InvestmentsPairCorr
  0.41AMRK Amir MarketingPairCorr
  0.33EMTC Elbit Med TechPairCorr
  0.32BYAR B Yair BuildingPairCorr
  0.87ISHI Israel ShipyardsPairCorr
  0.82MLRN MLRN ProjectsPairCorr
  0.8ZUR Zur Shamir HoldingsPairCorr
  0.78PLRM PalramPairCorr
  0.78NXTM NextcomPairCorr
  0.76NTO Neto ME HoldingsPairCorr
  0.75UTRN UtronPairCorr
  0.74OPCE OPC EnergyPairCorr
  0.73GLRS Globrands GroupPairCorr
  0.72ATRY Atreyu Capital MarketsPairCorr
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  0.67MISH Mivtach ShamirPairCorr

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   
CLISHARL
IDINHARL
CLISIDIN
CLISLBRA
LBRAHARL
ADGRISRS
  
High negative correlations   
ADGRIDIN
ISRSIDIN
ISRSHARL

Risk-Adjusted Indicators

There is a big difference between GCT Stock performing well and G City 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 G City'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.

G City Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with G City stock to make a market-neutral strategy. Peer analysis of G City could also be used in its relative valuation, which is a method of valuing G City by comparing valuation metrics with similar companies.
 Risk & Return  Correlation