Meitav Trade Correlations

Stocks . Israel . 
Stock . Meitav Trade Inv
MTRD Stock   1,075  23.00  2.09%   
The current 90-days correlation between Meitav Trade Inv and Nice is -0.12 (i.e., Good diversification). The correlation of Meitav Trade 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.

Meitav Trade Correlation With Market

Good diversification

The correlation between Meitav Trade Inv and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meitav Trade Inv and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Meitav Trade could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Meitav Trade 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 Meitav Trade - 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 Meitav Trade Inv to buy it.

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Meitav Stock performing well and Meitav Trade 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 Meitav Trade'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
NICE  1.98  0.11 (0.01)(0.17) 3.17 
(2.06)
 4.35 
(3.08)
 21.85 
GOLD  1.05  0.45  0.17 (1.25) 0.94 
(1.28)
 2.47 
(2.30)
 8.05 
LUMI  1.23  0.54  0.26 (3.91) 1.05 
(1.42)
 2.98 
(2.11)
 6.40 
ICL  2.01  0.35  0.14  1.08  1.67 
(2.39)
 5.63 
(3.16)
 11.77 
MZTF  1.19  0.39  0.23 (7.09) 0.90 
(1.51)
 2.77 
(1.86)
 5.51 
AZRG  1.53  0.37  0.13 (0.88) 1.41 
(1.90)
 3.77 
(2.93)
 9.70 
ESLT  1.28  0.39  0.19 (2.18) 0.94 
(1.47)
 4.09 
(2.03)
 8.80 
DSCT  1.32  0.50  0.25 (4.07) 1.11 
(1.54)
 2.60 
(2.44)
 7.16 
ORA  0.98  0.01  0.00  0.07  0.00 
 0.00 
 2.04 
(2.00)
 5.94 
RATI  1.49  0.49  0.24 (5.15) 1.12 
(1.83)
 3.75 
(2.45)
 8.86 

Meitav Trade 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 Meitav Trade stock to make a market-neutral strategy. Peer analysis of Meitav Trade could also be used in its relative valuation, which is a method of valuing Meitav Trade by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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