HAMMONIA Schiffsholding Correlations

Stocks Germany . 
Stock . HAMMONIA Schiffsholding AG
HHX Stock  EUR 258.00  2.00  0.78%   
The current 90-days correlation between HAMMONIA Schiffsholding and HUDSON GLOBAL INCDL 001 is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as HAMMONIA Schiffsholding moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if HAMMONIA Schiffsholding AG moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

HAMMONIA Schiffsholding Correlation With Market

Significant diversification

The correlation between HAMMONIA Schiffsholding AG and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HAMMONIA Schiffsholding AG and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to HAMMONIA Schiffsholding could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HAMMONIA Schiffsholding 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 HAMMONIA Schiffsholding - 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 HAMMONIA Schiffsholding AG to buy it.

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Related Correlations Analysis

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Our tools can tell you how much better you can do entering a position in HAMMONIA Schiffsholding 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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