TAIGA BUILDING Correlations

4T7 Stock  EUR 2.26  0.02  0.88%   
The current 90-days correlation between TAIGA BUILDING PRODS and PARKEN Sport Entertainment is -0.18 (i.e., Good diversification). The correlation of TAIGA BUILDING 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.

TAIGA BUILDING Correlation With Market

Significant diversification

The correlation between TAIGA BUILDING PRODS and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TAIGA BUILDING PRODS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to TAIGA BUILDING could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TAIGA BUILDING 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 TAIGA BUILDING - 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 TAIGA BUILDING PRODS to buy it.

Moving together with TAIGA Stock

  0.76S1L SILICOM LTD ISPairCorr
  0.83ALK Alaska Air GroupPairCorr

Moving against TAIGA Stock

  0.58WUW Wstenrot WrttembergischePairCorr
  0.5TBT TOKUYAMAPairCorr
  0.46W25 West African ResourcesPairCorr
  0.45FGR FirstGroup plcPairCorr
  0.46DZJ Country Garden HoldingsPairCorr
  0.45PNE3 PNE AGPairCorr
  0.43NI9 NIPPON SHEET GLASSPairCorr
  0.4GOB Compagnie de SaintPairCorr
  0.37GOB Compagnie de SaintPairCorr

Related Correlations Analysis

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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   
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1IZ1KEC
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1IZ1P4Q
  
High negative correlations   
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SC3P4Q
SC3KEC
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Risk-Adjusted Indicators

There is a big difference between TAIGA Stock performing well and TAIGA BUILDING 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 TAIGA BUILDING'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in TAIGA BUILDING 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.

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