Magic Software Correlations

MGIC Stock

USD 20.70 0.37 1.82%

The current 90-days correlation between Magic Software Enter and Life360, Common Stock is 0.52 (i.e., Very weak diversification). The correlation of Magic Software 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.

Magic Software Correlation With Market

Very weak diversification

The correlation between Magic Software Enterprises and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magic Software Enterprises and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Magic Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Magic Software Enterprises. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Magic Stock

0.89	KD	Kyndryl Holdings	Pair Corr
0.89	VRRM	Verra Mobility Corp	Pair Corr
0.69	EPAM	EPAM Systems	Pair Corr
0.79	FIS	Fidelity National	Pair Corr
0.78	GDS	GDS Holdings Upward Rally	Pair Corr
0.92	IBM	International Business	Pair Corr
0.84	III	Information Services	Pair Corr
0.83	PSN	Parsons Corp	Pair Corr
0.88	VYX	NCR Voyix	Pair Corr
0.65	WIT	Wipro Limited ADR	Pair Corr
0.73	XRX	Xerox Corp	Pair Corr
0.61	CYCUW	Cycurion, Warrant Symbol Change	Pair Corr
0.83	IBEX	IBEX	Pair Corr
0.82	INFY	Infosys Ltd ADR	Pair Corr
0.84	INOD	Innodata	Pair Corr
0.73	LDOS	Leidos Holdings	Pair Corr

Moving against Magic Stock

0.69	FI	Fiserv,	Pair Corr
0.55	AUR	Aurora Innovation	Pair Corr
0.75	SLNHP	Soluna Holdings Preferred Trending	Pair Corr
0.67	GDYN	Grid Dynamics Holdings	Pair Corr
0.65	JDZG	JIADE LIMITED Common	Pair Corr
0.63	AUROW	Aurora Innovation	Pair Corr
0.54	GLOB	Globant SA	Pair Corr
0.49	HCKT	Hackett Group	Pair Corr
0.4	NOTE	FiscalNote Holdings	Pair Corr
0.33	WRD	WeRide American Depo	Pair Corr

Related Correlations Analysis

	ORI	VGRDF	LIF	PNNT	SEIC	QTWO	AEG	ASUR
ORI		0.1	0.21	0.55	0.41	0.39	0.45	0.39	ORI
VGRDF	0.1		0.91	0.71	0.83	0.82	0.82	0.41	VGRDF
LIF	0.21	0.91		0.79	0.92	0.9	0.92	0.46	LIF
PNNT	0.55	0.71	0.79		0.84	0.83	0.86	0.57	PNNT
SEIC	0.41	0.83	0.92	0.84		0.95	0.96	0.69	SEIC
QTWO	0.39	0.82	0.9	0.83	0.95		0.92	0.62	QTWO
AEG	0.45	0.82	0.92	0.86	0.96	0.92		0.63	AEG
ASUR	0.39	0.41	0.46	0.57	0.69	0.62	0.63		ASUR
	ORI	VGRDF	LIF	PNNT	SEIC	QTWO	AEG	ASUR

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Risk-Adjusted Indicators

There is a big difference between Magic Stock performing well and Magic Software 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 Magic Software'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
ORI	1.14	(0.11)	0.00	(0.04)	0.00	0.00	2.41	(2.89)	8.76
VGRDF	0.47	0.12	0.00	3.85	0.00	0.00	2.64	(1.07)	5.41
LIF	2.54	0.71	0.19	0.50	3.15	(2.70)	5.04	(3.84)	24.26
PNNT	1.48	(0.04)	(0.02)	0.06	2.63	(1.32)	2.39	(3.57)	13.40
SEIC	1.37	0.17	0.10	0.24	1.74	(1.48)	2.77	(2.73)	12.68
QTWO	2.05	0.14	0.07	0.19	2.29	(2.39)	3.71	(3.58)	16.67
AEG	1.38	0.09	0.04	0.18	2.16	(1.41)	2.65	(3.09)	12.06
ASUR	2.07	0.19	0.08	0.32	2.23	(2.43)	5.00	(3.94)	11.91

Magic Software Corporate Management

Yael Ilan	Chief Solutions	Profile
Idan Faingold	Chief Ltd	Profile
Asaf CPA	Chief Officer	Profile
Karin Netzer	Chief Officer	Profile

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