More Provident Correlations

MPP Stock

764.80 60.10 7.29%

The current 90-days correlation between More Provident Funds and Hiron Trade Investments Industrial is 0.32 (i.e., Weak diversification). The correlation of More Provident 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 Provident Correlation With Market

Good diversification

The correlation between More Provident Funds and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding More Provident Funds and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to More Provident 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 Provident 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 Provident - 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 Provident Funds to buy it.

Moving together with More Stock

0.68	GNRS	Generation Capital	Pair Corr
0.92	MTDS	Meitav Dash Investments	Pair Corr
0.91	IBI	IBI Inv House	Pair Corr
0.93	MISH	Mivtach Shamir	Pair Corr
0.86	EMDV	Emilia Devel	Pair Corr
0.86	MRIN	YD More Investments	Pair Corr
0.89	ANLT	Analyst IMS Investment	Pair Corr
0.83	MRG	Multi Retail Group	Pair Corr
0.71	GOSS	G1 Secure Solutions	Pair Corr
0.92	PCBT	PCB Tec	Pair Corr
0.69	NVMI	Nova	Pair Corr
0.91	BSEN	Bet Shemesh Engines	Pair Corr

Moving against More Stock

0.61	ALTF	Altshuler Shaham Fin	Pair Corr
0.55	ORA	Ormat Technologies	Pair Corr

Related Correlations Analysis

	RTLS	AURA	AMOT	WSMK	MTRD	HRON	GKL	MORE-S8
RTLS		-0.43	-0.6	-0.59	0.66	-0.39	-0.22	0.5	RTLS
AURA	-0.43		0.78	0.46	-0.21	0.8	0.75	0.45	AURA
AMOT	-0.6	0.78		0.75	-0.67	0.55	0.5	0.03	AMOT
WSMK	-0.59	0.46	0.75		-0.83	0.32	0.16	-0.37	WSMK
MTRD	0.66	-0.21	-0.67	-0.83		0.0	0.11	0.64	MTRD
HRON	-0.39	0.8	0.55	0.32	0.0		0.78	0.42	HRON
GKL	-0.22	0.75	0.5	0.16	0.11	0.78		0.62	GKL
MORE-S8	0.5	0.45	0.03	-0.37	0.64	0.42	0.62		MORE-S8
	RTLS	AURA	AMOT	WSMK	MTRD	HRON	GKL	MORE-S8

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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

HRON	+ 0.8	AURA
AMOT	+ 0.78	AURA
GKL	+ 0.78	HRON
GKL	+ 0.75	AURA
WSMK	+ 0.75	AMOT
MTRD	+ 0.66	RTLS

High negative correlations

MTRD	- 0.83	WSMK
MTRD	- 0.67	AMOT
AMOT	- 0.6	RTLS
WSMK	- 0.59	RTLS
AURA	- 0.43	RTLS
HRON	- 0.39	RTLS

Risk-Adjusted Indicators

There is a big difference between More Stock performing well and More Provident 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 Provident'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
RTLS	1.81	0.07	0.05	(38.97)	1.93	(2.47)	4.77	(3.82)	10.38
AURA	1.91	(0.02)	0.00	(0.18)	0.00	0.00	4.27	(3.40)	10.10
AMOT	1.13	(0.13)	0.00	(9.55)	0.00	0.00	2.59	(2.00)	7.11
WSMK	3.24	(0.31)	0.00	0.49	0.00	0.00	7.62	(5.76)	19.22
MTRD	1.69	0.94	0.56	5.54	0.98	(2.34)	4.90	(2.16)	15.13
HRON	0.86	0.02	0.02	0.09	1.18	(1.69)	2.27	(2.89)	9.41
GKL	1.17	0.16	0.10	0.43	1.21	(2.00)	3.79	(2.69)	10.67
MORE-S8	0.96	0.07	0.08	(1.57)	1.18	(0.95)	2.26	(2.20)	6.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in More Provident 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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