TROPHY GAMES Correlations
| 4H7 Stock | 0.96 0.03 3.23% |
The current 90-days correlation between TROPHY GAMES DEV and Sea Limited is -0.08 (i.e., Good diversification). The correlation of TROPHY GAMES 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.
TROPHY GAMES Correlation With Market
Significant diversification
The correlation between TROPHY GAMES DEV 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 TROPHY GAMES DEV and DJI in the same portfolio, assuming nothing else is changed.
TROPHY |
The ability to find closely correlated positions to TROPHY GAMES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TROPHY GAMES 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 TROPHY GAMES - 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 TROPHY GAMES DEV to buy it.
Moving against TROPHY Stock
| 0.57 | BRYN | Berkshire Hathaway | PairCorr |
| 0.57 | BRYN | Berkshire Hathaway | PairCorr |
| 0.56 | BRH | Berkshire Hathaway | PairCorr |
| 0.5 | ERT | Electronic Arts | PairCorr |
| 0.49 | TKE | Take Two Interactive | PairCorr |
| 0.45 | KBIA | KB Financial Group | PairCorr |
| 0.41 | NTO | Nintendo | PairCorr |
| 0.32 | NTOA | Nintendo | PairCorr |
Related Correlations Analysis
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