Medivie Therapeutic Correlations

MDVI Stock

ILA 40.50 3.80 10.35%

The current 90-days correlation between Medivie Therapeutic and Netz Hotels is 0.02 (i.e., Significant diversification). The correlation of Medivie Therapeutic 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.

Medivie Therapeutic Correlation With Market

Average diversification

The correlation between Medivie Therapeutic and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Medivie Therapeutic and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Medivie Stock

0.71	BVC	Batm Advanced Commun	Pair Corr
0.99	STRG	Storage Drop Storage	Pair Corr

Moving against Medivie Stock

0.91	AVIV	Mordechai Aviv Taasiot	Pair Corr
0.9	LUMI	Bank Leumi Le	Pair Corr
0.89	DSCT	Israel Discount Bank	Pair Corr
0.88	RATI	Ratio Oil Explorations	Pair Corr
0.87	BEZQ	Bezeq Israeli Teleco	Pair Corr
0.86	ARPT	Airport City	Pair Corr
0.85	ASHG	Ashtrom Group	Pair Corr
0.84	FIBI	First International Bank	Pair Corr
0.84	ACRO	Kvutzat Acro	Pair Corr
0.83	MZTF	Mizrahi Tefahot	Pair Corr
0.83	MTDS	Meitav Dash Investments	Pair Corr
0.83	ALRPR	Alrov Properties Lodgings	Pair Corr
0.82	SHVA	Automatic Bank Services	Pair Corr
0.82	ILX	Ilex Medical	Pair Corr
0.81	AMRK	Amir Marketing	Pair Corr
0.78	AZRG	Azrieli Group	Pair Corr
0.78	ESLT	Elbit Systems	Pair Corr
0.78	WLFD	Willy Food	Pair Corr
0.76	ICL	ICL Israel Chemicals	Pair Corr
0.72	GOLD	Gold Bond	Pair Corr
0.69	STCM	Satcom Systems	Pair Corr
0.62	YHNF	M Yochananof	Pair Corr
0.56	ARAN	Aran Research	Pair Corr
0.41	APLY	Aerodrome Group	Pair Corr
0.9	ONE	One Software Technologies	Pair Corr
0.9	BCOM	B Communications	Pair Corr
0.89	ALMA	Almogim Holdings	Pair Corr
0.89	LEVI	Levinstein Eng	Pair Corr
0.88	MLSR	Melisron	Pair Corr
0.88	MDTR	Mediterranean Towers	Pair Corr
0.88	ELTR	Electra	Pair Corr
0.86	SPEN	Shapir Engineering	Pair Corr
0.86	SKBN	Shikun Binui	Pair Corr

Related Correlations Analysis

	NZHT	LUMI	BLND	BVC	ICL	IDIN	BCOM
NZHT		0.9	-0.44	-0.76	0.88	0.79	0.88	NZHT
LUMI	0.9		-0.64	-0.87	0.92	0.93	0.98	LUMI
BLND	-0.44	-0.64		0.68	-0.37	-0.6	-0.61	BLND
BVC	-0.76	-0.87	0.68		-0.73	-0.84	-0.82	BVC
ICL	0.88	0.92	-0.37	-0.73		0.89	0.92	ICL
IDIN	0.79	0.93	-0.6	-0.84	0.89		0.94	IDIN
BCOM	0.88	0.98	-0.61	-0.82	0.92	0.94		BCOM
	NZHT	LUMI	BLND	BVC	ICL	IDIN	BCOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

BCOM	+ 0.98	LUMI
BCOM	+ 0.94	IDIN
IDIN	+ 0.93	LUMI
ICL	+ 0.92	LUMI
BCOM	+ 0.92	ICL
LUMI	+ 0.9	NZHT

High negative correlations

BVC	- 0.87	LUMI
IDIN	- 0.84	BVC
BCOM	- 0.82	BVC
BVC	- 0.76	NZHT
ICL	- 0.73	BVC
BLND	- 0.64	LUMI

Risk-Adjusted Indicators

There is a big difference between Medivie Stock performing well and Medivie Therapeutic 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 Medivie Therapeutic'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
NZHT	3.02	0.77	0.22	(6.50)	2.50	(4.30)	9.70	(4.84)	22.43
LUMI	1.22	0.44	0.33	1.86	0.91	(1.45)	2.58	(1.94)	5.36
BLND	2.69	(0.01)	(0.01)	0.00	3.45	(3.56)	6.50	(6.31)	22.27
BVC	1.44	(0.28)	0.00	1.69	0.00	0.00	2.59	(3.29)	10.34
ICL	1.98	0.48	0.24	(7.13)	1.68	(2.34)	4.75	(3.11)	11.77
IDIN	1.61	0.32	0.15	1.08	1.82	(1.72)	3.33	(2.58)	8.86
BCOM	1.97	0.85	0.50	2.15	1.05	(2.47)	5.45	(2.48)	16.14

Be your own money manager

Our tools can tell you how much better you can do entering a position in Medivie Therapeutic 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.

Did you try this?

Run Idea Breakdown Now

Idea Breakdown

Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC