El Al (Israel) Market Value
ELAL Stock | 476.70 6.60 1.37% |
Symbol | ELAL |
El Al 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to El Al's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of El Al.
03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in El Al on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding El Al Israel or generate 0.0% return on investment in El Al over 30 days. El Al is related to or competes with Al Bad, Gan Shmuel, and Analyst IMS. El Al Israel Airlines Ltd., together with its subsidiaries, provides passengers and cargo transportation services More
El Al Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure El Al's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess El Al Israel upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 4.51 | |||
Information Ratio | 0.1073 | |||
Maximum Drawdown | 24.79 | |||
Value At Risk | (5.66) | |||
Potential Upside | 8.59 |
El Al Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for El Al's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as El Al's standard deviation. In reality, there are many statistical measures that can use El Al historical prices to predict the future El Al's volatility.Risk Adjusted Performance | 0.0873 | |||
Jensen Alpha | 0.5577 | |||
Total Risk Alpha | (0.01) | |||
Sortino Ratio | 0.1037 | |||
Treynor Ratio | (4.10) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of El Al's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
El Al Israel Backtested Returns
El Al appears to be very steady, given 3 months investment horizon. El Al Israel retains Efficiency (Sharpe Ratio) of 0.16, which denotes the company had a 0.16% return per unit of price deviation over the last 3 months. By reviewing El Al's technical indicators, you can evaluate if the expected return of 0.7% is justified by implied risk. Please utilize El Al's Standard Deviation of 4.36, downside deviation of 4.51, and Market Risk Adjusted Performance of (4.09) to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, El Al holds a performance score of 12. The firm owns a Beta (Systematic Risk) of -0.13, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning El Al are expected to decrease at a much lower rate. During the bear market, El Al is likely to outperform the market. Please check El Al's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to make a quick decision on whether El Al's current price history will revert.
Auto-correlation | -0.84 |
Excellent reverse predictability
El Al Israel has excellent reverse predictability. Overlapping area represents the amount of predictability between El Al time series from 24th of March 2024 to 8th of April 2024 and 8th of April 2024 to 23rd of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of El Al Israel price movement. The serial correlation of -0.84 indicates that around 84.0% of current El Al price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.84 | |
Spearman Rank Test | -0.78 | |
Residual Average | 0.0 | |
Price Variance | 379.96 |
El Al Israel lagged returns against current returns
Autocorrelation, which is El Al stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting El Al's stock expected returns. We can calculate the autocorrelation of El Al returns to help us make a trade decision. For example, suppose you find that El Al has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
Timeline |
El Al regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If El Al stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if El Al stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in El Al stock over time.
Current vs Lagged Prices |
Timeline |
El Al Lagged Returns
When evaluating El Al's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of El Al stock have on its future price. El Al autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, El Al autocorrelation shows the relationship between El Al stock current value and its past values and can show if there is a momentum factor associated with investing in El Al Israel.
Regressed Prices |
Timeline |
Pair Trading with El Al
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if El Al position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in El Al will appreciate offsetting losses from the drop in the long position's value.Moving against ELAL Stock
0.59 | ISRS | Isras Investment | PairCorr |
The ability to find closely correlated positions to El Al could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace El Al 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 El Al - 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 El Al Israel to buy it.
The correlation of El Al 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 El Al moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if El Al Israel 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.
Correlation analysis and pair trading evaluation for El Al can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out El Al Correlation, El Al Volatility and El Al Alpha and Beta module to complement your research on El Al. You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Complementary Tools for ELAL Stock analysis
When running El Al's price analysis, check to measure El Al'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 El Al is operating at the current time. Most of El Al's value examination focuses on studying past and present price action to predict the probability of El Al's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move El Al's price. Additionally, you may evaluate how the addition of El Al to your portfolios can decrease your overall portfolio volatility.
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