Eltek Correlations
| ELTK Stock | USD 10.86 0.19 1.78% |
The correlation of Eltek 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eltek moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eltek moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Modest diversification
The correlation between Eltek and NYA is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eltek and NYA in the same portfolio, assuming nothing else is changed.
Eltek |
The ability to find closely correlated positions to Eltek could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eltek 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 Eltek - 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 Eltek to buy it.
Moving together with Eltek Stock
| 0.78 | LPL | LG Display Financial Report 20th of May 2024 | PairCorr |
| 0.73 | ZEPP | Zepp Health Corp | PairCorr |
| 0.67 | NTIP | Network 1 Technologies | PairCorr |
| 0.85 | AAPL | Apple Inc Earnings Call Tomorrow | PairCorr |
| 0.66 | BOXL | Boxlight Corp Class Financial Report 8th of May 2024 | PairCorr |
Moving against Eltek Stock
| 0.76 | CLRO | ClearOne | PairCorr |
| 0.71 | WDC | Western Digital Report 13th of May 2024 | PairCorr |
| 0.63 | CDW | CDW Corp | PairCorr |
| 0.62 | DGII | Digi International Earnings Call Tomorrow | PairCorr |
| 0.59 | KULR | KULR Technology Group Financial Report 20th of May 2024 | PairCorr |
| 0.45 | NTGR | NETGEAR | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Eltek Stock performing well and Eltek 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 Eltek'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| UI | 2.08 | (0.37) | 0.00 | (0.13) | 0.00 | 4.66 | 16.42 | |||
| VIAV | 1.83 | (0.39) | 0.00 | (0.25) | 0.00 | 2.67 | 21.19 | |||
| VISL | 2.93 | 0.32 | 0.07 | (4.72) | 3.39 | 5.06 | 36.52 | |||
| DZSI | 3.54 | (0.82) | 0.00 | (0.38) | 0.00 | 6.98 | 20.30 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Eltek 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.Did you try this?
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Eltek Corporate Directors
Eltek corporate directors refer to members of an Eltek board of directors. The board of directors generally takes responsibility for the Eltek's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Eltek's board members must vote for the resolution. The Eltek board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Gavriel Meron | Director | Profile | |
| Ophira RosolioAharonson | Outside Independent Director | Profile | |
| Mordechai Marmorstein | Director | Profile | |
| David Rubner | Director | Profile |
Already Invested in Eltek?
The danger of trading Eltek is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Eltek is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Eltek. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Eltek is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Eltek is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Eltek Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Eltek Stock. Highlighted below are key reports to facilitate an investment decision about Eltek Stock: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eltek. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. For more information on how to buy Eltek Stock please use our How to buy in Eltek Stock guide.You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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When running Eltek's price analysis, check to measure Eltek's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Eltek is operating at the current time. Most of Eltek's value examination focuses on studying past and present price action to predict the probability of Eltek's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Eltek's price. Additionally, you may evaluate how the addition of Eltek to your portfolios can decrease your overall portfolio volatility.
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Is Eltek's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Eltek. If investors know Eltek will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Eltek listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.598 | Dividend Share 0.22 | Earnings Share 1.07 | Revenue Per Share 7.911 | Quarterly Revenue Growth 0.176 |
The market value of Eltek is measured differently than its book value, which is the value of Eltek that is recorded on the company's balance sheet. Investors also form their own opinion of Eltek's value that differs from its market value or its book value, called intrinsic value, which is Eltek's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Eltek's market value can be influenced by many factors that don't directly affect Eltek's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Eltek's value and its price as these two are different measures arrived at by different means. Investors typically determine if Eltek is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eltek's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.