Byggmstare Anders Correlations
AJA-B Stock | SEK 266.00 3.00 1.14% |
The correlation of Byggmstare Anders 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 Byggmstare Anders moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Byggmstare Anders J 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.
Significant diversification
The correlation between Byggmstare Anders J and NYA is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Byggmstare Anders J and NYA in the same portfolio, assuming nothing else is changed.
Byggmstare |
The ability to find closely correlated positions to Byggmstare Anders could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Byggmstare Anders 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 Byggmstare Anders - 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 Byggmstare Anders J to buy it.
Moving together with Byggmstare Stock
0.85 | SAGA-D | AB Sagax | PairCorr |
0.79 | SAGA-B | AB Sagax | PairCorr |
0.79 | SAGA-A | AB Sagax | PairCorr |
0.85 | SBB-D | Samhaellsbyggnadsbol | PairCorr |
0.8 | WIHL | Wihlborgs Fastigheter | PairCorr |
0.85 | CORE-PREF | Corem Property Group | PairCorr |
0.83 | CATE | Catena AB | PairCorr |
0.88 | NP3 | NP3 Fastigheter AB | PairCorr |
0.65 | ERIC-A | Telefonaktiebolaget | PairCorr |
0.9 | HM-B | H M Hennes | PairCorr |
0.72 | TELIA | Telia Company | PairCorr |
0.87 | NDA-SE | Nordea Bank Abp | PairCorr |
0.71 | ATCO-B | Atlas Copco AB | PairCorr |
Moving against Byggmstare Stock
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Risk-Adjusted Indicators
There is a big difference between Byggmstare Stock performing well and Byggmstare Anders 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 Byggmstare Anders' 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.Be your own money manager
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Additional Tools for Byggmstare Stock Analysis
When running Byggmstare Anders' price analysis, check to measure Byggmstare Anders' 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 Byggmstare Anders is operating at the current time. Most of Byggmstare Anders' value examination focuses on studying past and present price action to predict the probability of Byggmstare Anders' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Byggmstare Anders' price. Additionally, you may evaluate how the addition of Byggmstare Anders to your portfolios can decrease your overall portfolio volatility.