Philippine Business Correlations
| PBB Stock | 9.30 0.10 1.09% |
The current 90-days correlation between Philippine Business Bank and Metropolitan Bank Trust is -0.01 (i.e., Good diversification). The correlation of Philippine Business 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.
Philippine Business Correlation With Market
Good diversification
The correlation between Philippine Business Bank and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Philippine Business Bank and DJI in the same portfolio, assuming nothing else is changed.
Philippine |
The ability to find closely correlated positions to Philippine Business could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Philippine Business 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 Philippine Business - 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 Philippine Business Bank to buy it.
Moving together with Philippine Stock
Moving against Philippine Stock
| 0.83 | ALI | Ayala Land | PairCorr |
| 0.76 | TEL | PLDT Inc | PairCorr |
| 0.58 | BDO | BDO Unibank | PairCorr |
| 0.54 | AEV | Aboitiz Equity Ventures | PairCorr |
| 0.52 | SM | SM Investments Corp | PairCorr |
Related Correlations Analysis
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