Millennium Food Correlations

MIFT Stock

ILA 180.20 3.90 2.12%

The current 90-days correlation between Millennium Food Tech and Willy Food is -0.17 (i.e., Good diversification). The correlation of Millennium Food 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.

Millennium Food Correlation With Market

Good diversification

The correlation between Millennium Food Tech LP and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Millennium Food Tech LP and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Millennium Stock

0.72	WLFD	Willy Food	Pair Corr
0.65	KRUR	Kerur Holdings	Pair Corr
0.63	PHOE	Phoenix Holdings	Pair Corr
0.62	NTML	Neto Malinda	Pair Corr
0.56	FIBIH	FIBI Holdings Earnings Call Today	Pair Corr
0.55	MMHD	Menora Miv Hld Earnings Call Today	Pair Corr
0.52	STRS	Strauss Group	Pair Corr
0.52	LUMI	Bank Leumi Le	Pair Corr
0.5	ZNKL	Zanlakol	Pair Corr
0.49	MGDL	Migdal Insurance	Pair Corr
0.49	MZTF	Mizrahi Tefahot	Pair Corr
0.48	DSCT	Israel Discount Bank	Pair Corr
0.44	FIBI	First International Bank	Pair Corr
0.44	HARL	Harel Insurance Inve	Pair Corr
0.41	CLIS	Clal Insurance Enter Earnings Call Today	Pair Corr

Related Correlations Analysis

	WLFD	MIFT	BCOM	NVMI	PTCH	ISOP-L	PHTM	ILDR	EVGN
WLFD		-0.72	0.64	-0.59	0.63	0.56	0.68	0.29	-0.7	WLFD
MIFT	-0.72		-0.39	0.38	-0.37	-0.43	-0.51	-0.14	0.58	MIFT
BCOM	0.64	-0.39		-0.61	0.65	0.29	0.66	0.73	-0.54	BCOM
NVMI	-0.59	0.38	-0.61		-0.41	-0.34	-0.46	-0.35	0.42	NVMI
PTCH	0.63	-0.37	0.65	-0.41		0.75	0.82	0.3	-0.82	PTCH
ISOP-L	0.56	-0.43	0.29	-0.34	0.75		0.62	-0.15	-0.82	ISOP-L
PHTM	0.68	-0.51	0.66	-0.46	0.82	0.62		0.37	-0.78	PHTM
ILDR	0.29	-0.14	0.73	-0.35	0.3	-0.15	0.37		-0.13	ILDR
EVGN	-0.7	0.58	-0.54	0.42	-0.82	-0.82	-0.78	-0.13		EVGN
	WLFD	MIFT	BCOM	NVMI	PTCH	ISOP-L	PHTM	ILDR	EVGN

Click cells to compare fundamentals

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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

PHTM	+ 0.82	PTCH
ISOP-L	+ 0.75	PTCH
ILDR	+ 0.73	BCOM
PHTM	+ 0.68	WLFD
PHTM	+ 0.66	BCOM
PTCH	+ 0.65	BCOM

High negative correlations

EVGN	- 0.82	ISOP-L
EVGN	- 0.82	PTCH
EVGN	- 0.78	PHTM
MIFT	- 0.72	WLFD
EVGN	- 0.7	WLFD
NVMI	- 0.61	BCOM

Risk-Adjusted Indicators

There is a big difference between Millennium Stock performing well and Millennium Food 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 Millennium Food'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
WLFD	1.88	0.40	0.15	1.16	1.82	(2.07)	4.39	(3.26)	11.46
MIFT	2.22	(0.11)	0.00	0.39	0.00	0.00	4.14	(5.59)	16.46
BCOM	1.83	0.48	0.16	(2.66)	1.56	(2.10)	4.90	(3.10)	16.14
NVMI	2.73	(0.19)	0.00	1.04	0.00	0.00	6.35	(6.67)	21.92
PTCH	2.04	0.33	0.06	(1.99)	2.76	(2.29)	5.20	(3.40)	17.02
ISOP-L	2.00	0.30	0.04	(0.46)	2.39	(2.45)	5.05	(5.33)	17.11
PHTM	1.09	0.29	0.11	(35.19)	1.08	(1.21)	2.41	(2.12)	7.08
ILDR	1.69	0.09	(0.03)	(0.21)	2.15	(2.06)	4.82	(4.49)	11.17
EVGN	3.21	(1.68)	0.00	4.34	0.00	0.00	5.18	(9.43)	30.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in Millennium Food 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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