Eltek Ltd (ELTK) — Stock Correlations & Overview
Over the past year, ELTK has moved most closely with CEVA, THRV, TDAQ. Explore the stocks most correlated and inversely correlated with ELTK below, along with its price, financials, and company profile.
Stocks correlated with ELTK
Correlation of daily returns. Higher positive values move with ELTK; negative values move opposite it. Informational only, not investment advice.
Most correlated with ELTK
| Symbol | Company | Correlation |
|---|---|---|
| CEVA | CEVA Inc.SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. | 0.35 |
| THRV | Prospera Income ETF | 0.34 |
| TDAQ | TappAlpha Innovation 100 Growth & Daily Income ETF | 0.31 |
| MVLL | GraniteShares 2x Long MRVL Daily ETF | 0.30 |
| TRUG | TruGolf Holdings, Inc. Class A Common StockSPORTING & ATHLETIC GOODS, NEC | 0.30 |
Most inversely correlated with ELTK
| Symbol | Company | Correlation |
|---|---|---|
| OLMA | Olema Pharmaceuticals, Inc. Common StockPHARMACEUTICAL PREPARATIONS | -0.38 |
| TECS | Direxion Daily Technology Bear 3x ETF | -0.26 |
| AIBD | Direxion Daily AI and Big Data Bear 2X ETF | -0.26 |
| REGN | Regeneron Pharmaceuticals IncPHARMACEUTICAL PREPARATIONS | -0.26 |
| YQQQ | YieldMax Short N100 Option Income Strategy ETF | -0.25 |
Frequently asked questions about ELTK correlations
- Which stocks are most correlated with ELTK?
- Based on one year of daily returns, the stocks most correlated with Eltek Ltd (ELTK) are CEVA (0.35), THRV (0.34) and TDAQ (0.31). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with ELTK?
- Over the past year, the stocks most inversely correlated with Eltek Ltd (ELTK) are OLMA (-0.38), TECS (-0.26) and AIBD (-0.26). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these ELTK correlations calculated?
- We compute the correlation of daily returns between ELTK and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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