Bio View Correlations

BIOV Stock

ILS 24.50 1.60 6.99%

The correlation of Bio View 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.

Bio View Correlation With Market

Good diversification

The correlation between Bio View and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bio View and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Bio Stock

0.9	LUMI	Bank Leumi Le	Pair Corr
0.86	DSCT	Israel Discount Bank	Pair Corr
0.85	MZTF	Mizrahi Tefahot	Pair Corr
0.82	FIBI	First International Bank	Pair Corr
0.81	HARL	Harel Insurance Inve	Pair Corr
0.78	MGDL	Migdal Insurance	Pair Corr
0.76	MLSR	Melisron	Pair Corr
0.69	AZRG	Azrieli Group	Pair Corr
0.66	ARPT	Airport City	Pair Corr
0.49	GZT	Gazit Globe	Pair Corr
0.43	EVGN	Evogene	Pair Corr

Related Correlations Analysis

	ONE	CBI	BLND	BVC	SARN	CMDR	MGIC	SNCM
ONE		-0.5	-0.2	0.41	-0.37	0.93	0.98	0.93	ONE
CBI	-0.5		-0.07	-0.27	0.48	-0.5	-0.5	-0.49	CBI
BLND	-0.2	-0.07		0.09	-0.05	-0.29	-0.28	-0.33	BLND
BVC	0.41	-0.27	0.09		-0.46	0.49	0.28	0.4	BVC
SARN	-0.37	0.48	-0.05	-0.46		-0.4	-0.3	-0.25	SARN
CMDR	0.93	-0.5	-0.29	0.49	-0.4		0.89	0.9	CMDR
MGIC	0.98	-0.5	-0.28	0.28	-0.3	0.89		0.94	MGIC
SNCM	0.93	-0.49	-0.33	0.4	-0.25	0.9	0.94		SNCM
	ONE	CBI	BLND	BVC	SARN	CMDR	MGIC	SNCM

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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

MGIC	+ 0.98	ONE
SNCM	+ 0.94	MGIC
CMDR	+ 0.93	ONE
SNCM	+ 0.93	ONE
SNCM	+ 0.9	CMDR
MGIC	+ 0.89	CMDR

High negative correlations

MGIC	- 0.5	CBI
CMDR	- 0.5	CBI
CBI	- 0.5	ONE
SNCM	- 0.49	CBI
SARN	- 0.46	BVC
CMDR	- 0.4	SARN

Risk-Adjusted Indicators

There is a big difference between Bio Stock performing well and Bio View 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 Bio View'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
ONE	1.76	0.48	0.17	4.64	1.52	(1.91)	5.32	(3.00)	10.71
CBI	2.40	(0.06)	0.00	0.27	0.00	0.00	4.52	(5.76)	20.91
BLND	1.91	(0.01)	(0.04)	0.07	2.51	(3.74)	4.98	(5.33)	22.58
BVC	2.00	(0.02)	(0.03)	0.09	2.41	(2.25)	3.95	(4.12)	16.18
SARN	1.63	(0.09)	0.00	(0.55)	0.00	0.00	3.02	(3.29)	13.92
CMDR	2.29	0.49	0.13	(12.97)	2.38	(2.50)	5.95	(4.03)	12.88
MGIC	1.47	0.62	0.36	132.60	0.86	(1.84)	3.56	(2.15)	7.19
SNCM	1.58	0.39	0.12	16.06	1.65	(1.77)	3.47	(2.99)	14.45

Be your own money manager

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