LEGAL GENERAL Correlations

Stocks . Germany . 
Stock . LEGAL GENERAL
LGI Stock  EUR 2.96  0.04  1.37%   
The current 90-days correlation between LEGAL GENERAL and SEKISUI CHEMICAL is 0.01 (i.e., Significant diversification). The correlation of LEGAL GENERAL 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.

LEGAL GENERAL Correlation With Market

Average diversification

The correlation between LEGAL GENERAL and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LEGAL GENERAL and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to LEGAL GENERAL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LEGAL GENERAL 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 LEGAL GENERAL - 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 LEGAL GENERAL to buy it.

Moving together with LEGAL Stock

  0.84DBPE Xtrackers LevDAXPairCorr
  0.85E908 Lyxor 1PairCorr

Moving against LEGAL Stock

  0.85DBPD Xtrackers ShortDAXPairCorr
  0.76BZG2 BANK CENTRAL ASIAPairCorr
  0.72PQ9 BANK MANDIRIPairCorr
  0.69BZG2 BANK CENTRAL ASIAPairCorr
  0.68PQ9 PT Bank MandiriPairCorr
  0.65MSF MicrosoftPairCorr
  0.65MSF MicrosoftPairCorr
  0.64MSF MicrosoftPairCorr
  0.64MSF MicrosoftPairCorr
  0.63MSF MicrosoftPairCorr
  0.59PQ9 BANK MANDIRIPairCorr
  0.55PQ9 BANK MANDIRIPairCorr
  0.47BYRA BANK RAKYAT INDPairCorr
  0.43BYRA PT Bank RakyatPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between LEGAL Stock performing well and LEGAL GENERAL 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 LEGAL GENERAL'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 LEGAL GENERAL 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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