More Mutual Correlations
| MORE-S8 Stock | 6,708 26.00 0.39% |
The current 90-days correlation between More Mutual Funds and Nice is 0.24 (i.e., Modest 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
Significant diversification
The correlation between More Mutual Funds and DJI is 0.03 (i.e., Significant 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.
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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
| 0.94 | GOLD | Gold Bond | PairCorr |
| 0.99 | LUMI | Bank Leumi Le | PairCorr |
| 0.86 | ICL | ICL Israel Chemicals | PairCorr |
| 0.96 | MZTF | Mizrahi Tefahot | PairCorr |
| 0.92 | AZRG | Azrieli Group | PairCorr |
| 0.92 | ESLT | Elbit Systems | PairCorr |
| 0.99 | DSCT | Israel Discount Bank | PairCorr |
| 0.98 | RATI | Ratio Oil Explorations | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NICE | 2.03 | 0.17 | 0.01 | (0.30) | 3.16 | 4.35 | 21.85 | |||
| GOLD | 1.08 | 0.46 | 0.19 | (1.51) | 0.91 | 2.83 | 8.05 | |||
| LUMI | 1.23 | 0.43 | 0.21 | (4.31) | 1.10 | 2.58 | 6.28 | |||
| ICL | 1.99 | 0.35 | 0.14 | 1.45 | 1.67 | 5.63 | 11.77 | |||
| MZTF | 1.16 | 0.30 | 0.17 | (10.88) | 0.94 | 2.77 | 5.51 | |||
| AZRG | 1.49 | 0.28 | 0.09 | (0.89) | 1.46 | 3.76 | 9.70 | |||
| ESLT | 1.24 | 0.37 | 0.18 | (1.71) | 0.97 | 4.09 | 8.80 | |||
| DSCT | 1.31 | 0.38 | 0.19 | (5.89) | 1.15 | 2.59 | 7.16 | |||
| ORA | 1.00 | (0.03) | 0.00 | 0.44 | 0.00 | 2.04 | 5.94 | |||
| RATI | 1.43 | 0.36 | 0.16 | (5.44) | 1.25 | 3.55 | 8.86 |
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.
| Risk & Return | Correlation |