UMWELTBANK Correlations

Stocks . Germany . 
Stock . UMWELTBANK
UBK Stock  EUR 6.04  0.06  0.98%   
The current 90-days correlation between UMWELTBANK and Apple Inc is 0.05 (i.e., Significant diversification). The correlation of UMWELTBANK 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.
  
The ability to find closely correlated positions to UMWELTBANK could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace UMWELTBANK 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 UMWELTBANK - 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 UMWELTBANK to buy it.

Moving together with UMWELTBANK Stock

  0.73APC Apple IncPairCorr
  0.73APC Apple IncPairCorr
  0.73APC Apple IncPairCorr
  0.74APC Apple IncPairCorr
  0.69MSF MicrosoftPairCorr
  0.68MSF MicrosoftPairCorr
  0.67MSF MicrosoftPairCorr
  0.67MSF MicrosoftPairCorr
  0.68MSF MicrosoftPairCorr
  0.72AMZ Amazon IncPairCorr
  0.8CYL CryoLifePairCorr
  0.79UFH US FOODS HOLDINGPairCorr
  0.762T9A TRAINLINE PLC LSPairCorr
  0.65D2V PARKEN Sport EntertaPairCorr
  0.75HXL HexcelPairCorr
  0.62SK3 Smurfit Kappa GroupPairCorr
  0.83WX7 Corporate Office ProPairCorr
  0.7AZ5 AutoZonePairCorr
  0.83EQN2 EquinixPairCorr
  0.73PPB Flutter Entertainment PLCPairCorr
  0.842WY Wyndham Hotels ResortsPairCorr
  0.77TSFA Taiwan SemiconductorPairCorr
  0.93WX1 Acadia Realty TrustPairCorr
  0.73APC Apple IncPairCorr
  0.650XHR Xenia Hotels ResortsPairCorr
  0.86FFH Fifth Third BancorpPairCorr
  0.78PTX Palantir TechnologiesPairCorr
  0.76LIE Sun Life FinancialPairCorr

Moving against UMWELTBANK Stock

  0.81EII EisaiPairCorr
  0.41AXI Atos SEPairCorr
  0.3618V CHINA VANKE TDPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between UMWELTBANK Stock performing well and UMWELTBANK 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 UMWELTBANK'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 UMWELTBANK 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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