Partner Correlations

PTNR Stock

ILA 2,264 23.00 1.03%

The current 90-days correlation between Partner and Tower Semiconductor is 0.09 (i.e., Significant diversification). The correlation of Partner 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.

Partner Correlation With Market

Good diversification

The correlation between Partner 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 Partner and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Partner Stock

0.89	NTML	Neto Malinda	Pair Corr
0.92	ORBI	Orbit Technologies	Pair Corr
0.83	ARYT	Aryt Industries	Pair Corr
0.92	AVIV	Mordechai Aviv Taasiot	Pair Corr

Moving against Partner Stock

0.77

SPRG

Spring Ventures

Pair Corr

Related Correlations Analysis

	TSEM	DSCT	BCOM	PHTM	YHNF	CBI	CMCT	ICL
TSEM		0.77	0.76	0.81	0.65	-0.63	-0.83	0.61	TSEM
DSCT	0.77		0.97	0.8	0.59	-0.75	-0.83	0.84	DSCT
BCOM	0.76	0.97		0.73	0.56	-0.76	-0.77	0.83	BCOM
PHTM	0.81	0.8	0.73		0.48	-0.62	-0.95	0.55	PHTM
YHNF	0.65	0.59	0.56	0.48		-0.62	-0.58	0.38	YHNF
CBI	-0.63	-0.75	-0.76	-0.62	-0.62		0.66	-0.49	CBI
CMCT	-0.83	-0.83	-0.77	-0.95	-0.58	0.66		-0.58	CMCT
ICL	0.61	0.84	0.83	0.55	0.38	-0.49	-0.58		ICL
	TSEM	DSCT	BCOM	PHTM	YHNF	CBI	CMCT	ICL

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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

BCOM	+ 0.97	DSCT
ICL	+ 0.84	DSCT
ICL	+ 0.83	BCOM
PHTM	+ 0.81	TSEM
PHTM	+ 0.8	DSCT
DSCT	+ 0.77	TSEM

High negative correlations

CMCT	- 0.95	PHTM
CMCT	- 0.83	DSCT
CMCT	- 0.83	TSEM
CMCT	- 0.77	BCOM
CBI	- 0.76	BCOM
CBI	- 0.75	DSCT

Risk-Adjusted Indicators

There is a big difference between Partner Stock performing well and Partner 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 Partner'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
TSEM	1.71	0.39	0.11	(0.69)	1.81	(1.81)	3.52	(3.20)	14.22
DSCT	1.31	0.34	0.20	0.90	1.15	(1.50)	2.59	(2.44)	7.16
BCOM	1.78	0.65	0.29	(16.04)	1.25	(2.05)	4.90	(2.98)	16.14
PHTM	1.07	0.41	0.23	(1.84)	0.76	(1.26)	2.41	(1.96)	5.27
YHNF	1.47	0.27	0.10	2.45	1.58	(1.59)	3.29	(2.86)	8.25
CBI	2.20	(0.13)	0.00	(0.50)	0.00	0.00	4.28	(3.61)	16.36
CMCT	5.93	(2.89)	0.00	(33.01)	0.00	0.00	5.09	(19.26)	58.41
ICL	1.99	0.33	0.14	0.90	1.67	(2.35)	5.63	(3.16)	11.77

Be your own money manager

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