GALP ENERGIA Correlations

Stocks . Germany . 
Stock . GALP ENERGIA B
GZ5 Stock  EUR 16.55  0.10  0.61%   
The current 90-days correlation between GALP ENERGIA B and Apple Inc is 0.02 (i.e., Significant diversification). The correlation of GALP ENERGIA 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.

GALP ENERGIA Correlation With Market

Significant diversification

The correlation between GALP ENERGIA B and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GALP ENERGIA B and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to GALP ENERGIA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GALP ENERGIA 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 GALP ENERGIA - 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 GALP ENERGIA B to buy it.

Moving against GALP Stock

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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between GALP Stock performing well and GALP ENERGIA 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 GALP ENERGIA'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 GALP ENERGIA 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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