Meshek Energy Correlations
| MSKE Stock | ILA 310.30 0.30 0.1% |
The current 90-days correlation between Meshek Energy Renewable and Scope Metals Group is 0.09 (i.e., Significant diversification). The correlation of Meshek Energy 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.
Meshek Energy Correlation With Market
Significant diversification
The correlation between Meshek Energy Renewable Energi and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meshek Energy Renewable Energi and DJI in the same portfolio, assuming nothing else is changed.
Meshek |
The ability to find closely correlated positions to Meshek Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Meshek Energy 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 Meshek Energy - 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 Meshek Energy Renewable Energies to buy it.
Moving together with Meshek Stock
| 0.85 | DORL | Doral Group Renewable | PairCorr |
| 0.91 | PRIM | Prime Energy PE | PairCorr |
| 0.86 | LUMI | Bank Leumi Le | PairCorr |
| 0.83 | MZTF | Mizrahi Tefahot | PairCorr |
| 0.78 | ALHE | Alony Hetz Properties | PairCorr |
| 0.9 | DLEKG | Delek Group | PairCorr |
| 0.84 | BIG | Big Shopping Centers | PairCorr |
| 0.88 | DSCT | Israel Discount Bank | PairCorr |
| 0.84 | ABRA | Abra Information Tec | PairCorr |
| 0.75 | STRS | Strauss Group | PairCorr |
| 0.64 | PTCH | Petrochemical | PairCorr |
Moving against Meshek Stock
Related Correlations Analysis
| 0.81 | 0.08 | 0.88 | 0.75 | 0.85 | 0.74 | SCOP | ||
| 0.81 | 0.08 | 0.73 | 0.7 | 0.83 | 0.65 | RMON | ||
| 0.08 | 0.08 | 0.37 | -0.38 | -0.11 | -0.36 | TSEM | ||
| 0.88 | 0.73 | 0.37 | 0.56 | 0.71 | 0.55 | INRM | ||
| 0.75 | 0.7 | -0.38 | 0.56 | 0.91 | 0.96 | IDIN | ||
| 0.85 | 0.83 | -0.11 | 0.71 | 0.91 | 0.89 | ICL | ||
| 0.74 | 0.65 | -0.36 | 0.55 | 0.96 | 0.89 | MTRD | ||
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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
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Risk-Adjusted Indicators
There is a big difference between Meshek Stock performing well and Meshek Energy 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 Meshek Energy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SCOP | 1.47 | 0.50 | 0.34 | (1.96) | 1.24 | 3.78 | 13.46 | |||
| RMON | 1.50 | 0.34 | 0.14 | (2.33) | 2.06 | 4.33 | 15.44 | |||
| TSEM | 1.99 | (0.02) | 0.01 | 0.00 | 2.76 | 4.37 | 17.69 | |||
| INRM | 1.58 | 0.40 | 0.23 | (10.66) | 1.48 | 3.69 | 14.83 | |||
| IDIN | 1.24 | 0.47 | 0.34 | 1.55 | 1.05 | 3.07 | 9.46 | |||
| ICL | 1.85 | 0.48 | 0.27 | (1.58) | 1.57 | 4.55 | 9.47 | |||
| MTRD | 1.44 | 0.91 | 0.71 | 2.52 | 0.00 | 4.30 | 11.01 |
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