GULF ENERGY Correlations
| GULF-R Stock | THB 60.50 0.00 0.00% |
The current 90-days correlation between GULF ENERGY DEVELOPMENT and Electricity Generating Public is 0.03 (i.e., Significant diversification). The correlation of GULF ENERGY 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.
GULF ENERGY Correlation With Market
Average diversification
The correlation between GULF ENERGY DEVELOPMENT NVDR and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GULF ENERGY DEVELOPMENT NVDR and DJI in the same portfolio, assuming nothing else is changed.
GULF |
The ability to find closely correlated positions to GULF ENERGY could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GULF ENERGY 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 GULF ENERGY - 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 GULF ENERGY DEVELOPMENT NVDR to buy it.
Moving together with GULF Stock
| 0.62 | SPCG | SPCG Public | PairCorr |
| 0.85 | THANI | Ratchthani Leasing Public | PairCorr |
| 0.69 | YUASA | Yuasa Battery Public | PairCorr |
| 0.68 | K | Kingsmen CMTI Public | PairCorr |
| 0.72 | CIMBT | CIMB Thai Bank | PairCorr |
Moving against GULF Stock
| 0.83 | TPCH | TPC Power Holding | PairCorr |
| 0.58 | CHOW | Chow Steel Industries | PairCorr |
| 0.57 | BGRIM-R | B GRIMM POWER | PairCorr |
| 0.51 | SUPER | Super Energy | PairCorr |
| 0.5 | EGCO | Electricity Generating | PairCorr |
| 0.5 | ASAP | Synergetic Auto Perf | PairCorr |
| 0.47 | BGRIM | BGrimm Power Public | PairCorr |
| 0.41 | ASK | Asia Sermkij Leasing | PairCorr |
| 0.31 | SDC | Samart Digital Public | PairCorr |
Related Correlations Analysis
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