Seah Steel Correlations
| 306200 Stock | 118,400 1,100 0.94% |
The current 90-days correlation between Seah Steel Corp and Dong Il Steel is -0.02 (i.e., Good diversification). The correlation of Seah Steel 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.
Seah Steel Correlation With Market
Average diversification
The correlation between Seah Steel Corp and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Seah Steel Corp and DJI in the same portfolio, assuming nothing else is changed.
Seah |
The ability to find closely correlated positions to Seah Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Seah Steel 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 Seah Steel - 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 Seah Steel Corp to buy it.
Related Correlations Analysis
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