Caesarstone Correlations

CSTE Stock

USD 0.99 0.04 3.88%

The current 90-days correlation between Caesarstone and Knightscope is 0.26 (i.e., Modest diversification). The correlation of Caesarstone 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.

Caesarstone Correlation With Market

Modest diversification

The correlation between Caesarstone and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caesarstone and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Caesarstone Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Caesarstone. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For information on how to trade Caesarstone Stock refer to our How to Trade Caesarstone Stock guide.

Moving together with Caesarstone Stock

0.81	AOS	Smith AO	Pair Corr
0.63	NCL	Northann Corp	Pair Corr
0.62	CAPT	Captivision Ordinary	Pair Corr
0.85	RGVNF	Regent Ventures	Pair Corr

Moving against Caesarstone Stock

0.84	JCI	Johnson Controls Int	Pair Corr
0.81	600202	Harbin Air Conditioning	Pair Corr
0.75	600444	Sinomach General Mac	Pair Corr
0.66	002205	XinJiang GuoTong Pipeline	Pair Corr
0.57	002631	Der International Home	Pair Corr
0.43	002084	Guangzhou Seagull Kitchen	Pair Corr
0.42	TT	Trane Technologies plc	Pair Corr
0.82	ANSLF	Ansell Limited	Pair Corr
0.78	NUAI	New Era Energy Symbol Change	Pair Corr
0.6	TOELY	Tokyo Electron	Pair Corr
0.48	AAL	American Airlines	Pair Corr
0.47	IVZ	Invesco Plc Normal Trading	Pair Corr
0.41	FICO	Fair Isaac Tech Boost	Pair Corr
0.39	SIMO	Silicon Motion Technology	Pair Corr
0.32	INTAF	Intact Financial	Pair Corr

Related Correlations Analysis

	KSCP	GPUS	APWC	EDRY	SDST	NEOV	APT	UFG	BGSF	FLYY
KSCP		0.4	0.39	-0.01	0.04	0.52	0.33	0.05	0.26	-0.07	KSCP
GPUS	0.4		-0.17	-0.54	-0.05	-0.06	-0.07	-0.05	-0.29	0.68	GPUS
APWC	0.39	-0.17		0.52	-0.36	0.71	0.24	0.35	0.82	-0.51	APWC
EDRY	-0.01	-0.54	0.52		0.16	0.59	-0.15	-0.33	0.61	-0.85	EDRY
SDST	0.04	-0.05	-0.36	0.16		-0.13	-0.52	-0.75	-0.32	-0.07	SDST
NEOV	0.52	-0.06	0.71	0.59	-0.13		0.18	0.02	0.62	-0.48	NEOV
APT	0.33	-0.07	0.24	-0.15	-0.52	0.18		0.62	0.36	-0.13	APT
UFG	0.05	-0.05	0.35	-0.33	-0.75	0.02	0.62		0.32	0.13	UFG
BGSF	0.26	-0.29	0.82	0.61	-0.32	0.62	0.36	0.32		-0.57	BGSF
FLYY	-0.07	0.68	-0.51	-0.85	-0.07	-0.48	-0.13	0.13	-0.57		FLYY
	KSCP	GPUS	APWC	EDRY	SDST	NEOV	APT	UFG	BGSF	FLYY

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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

BGSF	+ 0.82	APWC
NEOV	+ 0.71	APWC
FLYY	+ 0.68	GPUS
BGSF	+ 0.62	NEOV
UFG	+ 0.62	APT
BGSF	+ 0.61	EDRY

High negative correlations

FLYY	- 0.85	EDRY
UFG	- 0.75	SDST
FLYY	- 0.57	BGSF
EDRY	- 0.54	GPUS
APT	- 0.52	SDST
FLYY	- 0.51	APWC

Risk-Adjusted Indicators

There is a big difference between Caesarstone Stock performing well and Caesarstone 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 Caesarstone'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
KSCP	4.22	(0.51)	0.00	(0.01)	0.00	0.00	8.06	(8.59)	29.62
GPUS	7.46	(1.09)	0.00	(0.13)	0.00	0.00	21.62	(13.33)	49.89
APWC	2.64	0.16	0.02	0.73	2.83	(3.01)	6.47	(4.37)	20.67
EDRY	2.16	0.33	0.10	0.82	2.27	(2.30)	5.09	(3.99)	11.34
SDST	5.98	0.15	0.07	0.16	6.04	(8.47)	14.73	(12.93)	51.90
NEOV	4.92	(0.08)	0.02	0.09	6.25	(5.02)	9.58	(11.00)	29.56
APT	0.83	(0.03)	(0.07)	0.06	0.99	(1.00)	1.54	(1.89)	7.46
UFG	8.67	(0.38)	0.00	0.77	0.00	0.00	19.91	(15.54)	123.20
BGSF	2.98	0.39	0.08	1.77	3.31	(3.41)	8.26	(5.80)	30.04
FLYY	9.21	(1.72)	0.00	1.26	0.00	0.00	14.29	(23.40)	90.07

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