| AMIGY Stock | | | USD 32.47 1.08 3.44% |
The current 90-days correlation between Admiral Group PLC and AmTrust Financial Services is -0.07 (i.e., Good diversification). The correlation of Admiral Group 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Admiral Group Correlation With Market
Average diversification
The correlation between Admiral Group PLC and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Admiral Group PLC and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Admiral Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Admiral Group 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 Admiral Group - 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 Admiral Group PLC to buy it.
Moving together with Admiral Pink Sheet
Moving against Admiral Pink Sheet
Related Correlations Analysis
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Admiral Group Corporate Management