Itay Financial Correlations

ITYF Stock

ILS 687.60 12.40 1.77%

The current 90-days correlation between Itay Financial AA and Isras Investment is 0.01 (i.e., Significant diversification). The correlation of Itay Financial 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.

Itay Financial Correlation With Market

Average diversification

The correlation between Itay Financial AA and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Itay Financial AA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Itay Stock

0.67	NZHT	Netz Hotels	Pair Corr
0.88	ISCD	Isracard	Pair Corr
0.76	MGDL	Migdal Insurance	Pair Corr
0.79	CLIS	Clal Insurance Enter Earnings Call This Week	Pair Corr
0.88	LUMI	Bank Leumi Le	Pair Corr
0.87	PHOE	Phoenix Holdings	Pair Corr
0.86	DSCT	Israel Discount Bank	Pair Corr
0.73	MZTF	Mizrahi Tefahot	Pair Corr
0.76	DLEKG	Delek Group Earnings Call Tomorrow	Pair Corr
0.69	BEZQ	Bezeq Israeli Teleco	Pair Corr
0.85	EMTC-M	Elbit Medical Techno	Pair Corr
0.63	TUZA	Teuza A Fairchild	Pair Corr

Moving against Itay Stock

0.58

DCI

Direct Capital Inves

Pair Corr

Related Correlations Analysis

	ISRS	ORON	CLIS	DISI	HARL	MTAV	AMOT	HRON
ISRS		0.0	-0.11	0.09	-0.38	-0.34	0.74	0.3	ISRS
ORON	0.0		0.81	0.4	0.74	0.81	0.11	0.42	ORON
CLIS	-0.11	0.81		0.35	0.94	0.94	-0.17	0.43	CLIS
DISI	0.09	0.4	0.35		0.31	0.32	-0.34	-0.41	DISI
HARL	-0.38	0.74	0.94	0.31		0.96	-0.38	0.27	HARL
MTAV	-0.34	0.81	0.94	0.32	0.96		-0.3	0.34	MTAV
AMOT	0.74	0.11	-0.17	-0.34	-0.38	-0.3		0.53	AMOT
HRON	0.3	0.42	0.43	-0.41	0.27	0.34	0.53		HRON
	ISRS	ORON	CLIS	DISI	HARL	MTAV	AMOT	HRON

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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

MTAV	+ 0.96	HARL
HARL	+ 0.94	CLIS
MTAV	+ 0.94	CLIS
CLIS	+ 0.81	ORON
MTAV	+ 0.81	ORON
AMOT	+ 0.74	ISRS

High negative correlations

HRON	- 0.41	DISI
AMOT	- 0.38	HARL
HARL	- 0.38	ISRS
AMOT	- 0.34	DISI
MTAV	- 0.34	ISRS
AMOT	- 0.3	MTAV

Risk-Adjusted Indicators

There is a big difference between Itay Stock performing well and Itay Financial 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 Itay Financial'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
ISRS	1.36	(0.13)	0.00	1.09	0.00	0.00	2.57	(3.05)	9.21
ORON	1.38	0.22	0.14	1.51	1.84	(1.45)	3.53	(2.75)	10.45
CLIS	1.49	0.37	0.22	(7.38)	1.63	(1.73)	3.55	(2.75)	12.46
DISI	2.43	(0.03)	0.00	0.05	0.00	0.00	6.76	(4.24)	25.43
HARL	1.69	0.61	0.41	(6.57)	1.27	(2.20)	4.28	(2.69)	9.00
MTAV	1.65	0.77	0.43	3.06	1.19	(1.88)	4.23	(3.07)	9.65
AMOT	1.10	(0.09)	0.00	(1.03)	0.00	0.00	2.59	(1.95)	7.11
HRON	0.84	0.06	0.05	0.18	1.10	(1.69)	2.27	(2.74)	9.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in Itay Financial 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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