More Mutual Correlations

MORE-S8 Stock

6,663 251.00 3.63%

The current 90-days correlation between More Mutual Funds and Payment Financial Technologies is 0.32 (i.e., Weak diversification). The correlation of More Mutual 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.

More Mutual Correlation With Market

Good diversification

The correlation between More Mutual Funds and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding More Mutual Funds and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with More Stock

0.64	LUMI	Bank Leumi Le	Pair Corr
0.85	ICL	ICL Israel Chemicals	Pair Corr
0.83	MZTF	Mizrahi Tefahot	Pair Corr
0.83	DSCT	Israel Discount Bank	Pair Corr
0.77	RATI	Ratio Oil Explorations Earnings Call Today	Pair Corr
0.62	ITYF	Itay Financial AA	Pair Corr
0.69	TUZA	Teuza A Fairchild	Pair Corr

Moving against More Stock

0.69	ORA	Ormat Technologies	Pair Corr
0.61	ICON	Icon Group	Pair Corr
0.6	NICE	Nice	Pair Corr

Related Correlations Analysis

	PMNT	RTLS	WSMK	STEC	KTOV	PRTC	CMDR	WESR
PMNT		0.12	-0.33	0.43	-0.44	0.48	-0.35	-0.23	PMNT
RTLS	0.12		-0.59	-0.25	-0.41	-0.42	0.47	-0.45	RTLS
WSMK	-0.33	-0.59		0.08	0.49	0.48	0.13	0.47	WSMK
STEC	0.43	-0.25	0.08		-0.27	0.42	0.09	0.11	STEC
KTOV	-0.44	-0.41	0.49	-0.27		0.06	-0.05	0.45	KTOV
PRTC	0.48	-0.42	0.48	0.42	0.06		-0.22	0.31	PRTC
CMDR	-0.35	0.47	0.13	0.09	-0.05	-0.22		-0.03	CMDR
WESR	-0.23	-0.45	0.47	0.11	0.45	0.31	-0.03		WESR
	PMNT	RTLS	WSMK	STEC	KTOV	PRTC	CMDR	WESR

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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

KTOV	+ 0.49	WSMK
PRTC	+ 0.48	PMNT
PRTC	+ 0.48	WSMK
CMDR	+ 0.47	RTLS
WESR	+ 0.47	WSMK
WESR	+ 0.45	KTOV

High negative correlations

WSMK	- 0.59	RTLS
WESR	- 0.45	RTLS
KTOV	- 0.44	PMNT
PRTC	- 0.42	RTLS
KTOV	- 0.41	RTLS
CMDR	- 0.35	PMNT

Risk-Adjusted Indicators

There is a big difference between More Stock performing well and More Mutual 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 More Mutual'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
PMNT	2.56	0.24	0.08	0.46	2.89	(2.79)	6.48	(4.67)	21.11
RTLS	1.81	0.07	0.05	(38.97)	1.93	(2.47)	4.77	(3.82)	10.38
WSMK	3.24	(0.31)	0.00	0.49	0.00	0.00	7.62	(5.76)	19.22
STEC	1.97	0.32	0.10	(1.13)	2.22	(3.13)	7.03	(4.55)	20.09
KTOV	5.73	0.56	0.11	(0.45)	5.34	(8.50)	8.57	(10.00)	105.74
PRTC	2.27	(0.03)	0.00	0.05	0.00	0.00	4.30	(4.33)	20.25
CMDR	1.68	(0.04)	0.00	(0.24)	0.00	0.00	3.82	(4.25)	9.42
WESR	2.40	0.07	0.03	0.33	3.07	(2.55)	5.62	(5.09)	16.40

More Mutual 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 More Mutual stock to make a market-neutral strategy. Peer analysis of More Mutual could also be used in its relative valuation, which is a method of valuing More Mutual by comparing valuation metrics with similar companies.

Payment Financial Technologies Retailors WhiteSmoke Software Sure Tech Investments LP Purple Biotech Priortech Computer Direct Wesure Global Tech American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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