GODM Investments Correlations

GODM Stock

ILS 94.50 3.40 3.47%

The correlation of GODM Investments 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.

GODM Investments Correlation With Market

Significant diversification

The correlation between GODM Investments and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GODM Investments and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to GODM Investments could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GODM Investments 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 GODM Investments - 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 GODM Investments to buy it.

Moving together with GODM Stock

0.92	ELAL	El Al Israel	Pair Corr
0.82	TEFN	Intelicanna	Pair Corr
0.81	KNFM	Knafaim	Pair Corr
0.91	TMRP	Tamar Petroleum	Pair Corr
0.84	ITYF	Itay Financial AA	Pair Corr
0.77	ZUR	Zur Shamir Holdings	Pair Corr
0.84	EDRL	Edri El	Pair Corr
0.77	PLTF	Value Capital One	Pair Corr
0.94	UTRN	Utron	Pair Corr
0.95	MISH	Mivtach Shamir	Pair Corr
0.73	OPCE	OPC Energy	Pair Corr
0.72	TIGBUR	Tigbur Temporary	Pair Corr
0.68	GOLD	Gold Bond	Pair Corr
0.64	AMX	Automax Motors	Pair Corr
0.88	NTO	Neto ME Holdings	Pair Corr
0.93	AMAN	Amanet Management Systems	Pair Corr
0.63	ELWS	Electreon Wireless	Pair Corr
0.75	MDIN	Modiin Energy Limited	Pair Corr
0.79	EMTC	Elbit Med Tech	Pair Corr
0.84	ORON	Oron Group Investments	Pair Corr
0.77	ISHI	Israel Shipyards	Pair Corr
0.94	KDST	Kadimastem	Pair Corr
0.88	ROTS	Rotshtein	Pair Corr
0.81	ARGO	Argo Properties NV	Pair Corr
0.83	LUMI	Bank Leumi Le	Pair Corr
0.91	SHGR	Shagrir Group Vehicle	Pair Corr
0.91	RATI-L	Ratio Energies LP	Pair Corr
0.94	NXTM	Nextcom	Pair Corr
0.88	DIFI	Direct Finance TA	Pair Corr
0.74	GFC	GFC Green Fields	Pair Corr

Moving against GODM Stock

0.78	LBTL	Libental	Pair Corr
0.6	PLAZ	Plaza Centers NV	Pair Corr

Related Correlations Analysis

	ADGR	SNCM	SKLN	VRDS	HRON	AMAN	RMON	MRIN
ADGR		0.27	0.67	-0.18	0.23	-0.3	-0.04	-0.22	ADGR
SNCM	0.27		0.03	0.5	0.58	0.51	0.25	0.59	SNCM
SKLN	0.67	0.03		-0.04	0.24	-0.18	0.04	-0.31	SKLN
VRDS	-0.18	0.5	-0.04		0.42	0.67	0.65	0.43	VRDS
HRON	0.23	0.58	0.24	0.42		0.36	0.56	0.15	HRON
AMAN	-0.3	0.51	-0.18	0.67	0.36		0.52	0.76	AMAN
RMON	-0.04	0.25	0.04	0.65	0.56	0.52		0.11	RMON
MRIN	-0.22	0.59	-0.31	0.43	0.15	0.76	0.11		MRIN
	ADGR	SNCM	SKLN	VRDS	HRON	AMAN	RMON	MRIN

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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

MRIN	+ 0.76	AMAN
SKLN	+ 0.67	ADGR
AMAN	+ 0.67	VRDS
RMON	+ 0.65	VRDS
MRIN	+ 0.59	SNCM
HRON	+ 0.58	SNCM

High negative correlations

MRIN	- 0.31	SKLN
AMAN	- 0.3	ADGR
MRIN	- 0.22	ADGR
AMAN	- 0.18	SKLN
VRDS	- 0.18	ADGR
VRDS	- 0.04	SKLN

Risk-Adjusted Indicators

There is a big difference between GODM Stock performing well and GODM Investments 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 GODM Investments' 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
ADGR	1.18	0.00	0.07	(0.05)	1.38	(1.31)	2.84	(2.44)	9.68
SNCM	1.75	0.24	0.19	(1.50)	1.60	(2.31)	4.00	(3.06)	13.17
SKLN	1.34	(0.16)	0.00	0.18	0.00	0.00	2.87	(3.26)	6.83
VRDS	1.45	0.03	0.06	0.10	1.69	(1.67)	2.84	(2.76)	9.08
HRON	0.84	0.13	0.09	0.45	0.99	(1.67)	2.27	(2.61)	9.33
AMAN	1.63	0.26	0.13	0.32	2.03	(1.74)	3.83	(3.72)	11.00
RMON	1.50	0.09	0.07	(2.28)	2.29	(1.56)	3.39	(2.90)	15.44
MRIN	2.17	0.52	0.29	(2.66)	1.85	(2.69)	4.79	(3.73)	12.59

Be your own money manager

Our tools can tell you how much better you can do entering a position in GODM Investments 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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