ACCESS BANK Correlations
| ACCESS Stock | 4.75 0.00 0.00% |
The correlation of ACCESS BANK 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.
ACCESS BANK Correlation With Market
Good diversification
The correlation between ACCESS BANK GHANA and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ACCESS BANK GHANA and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to ACCESS BANK could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ACCESS BANK 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 ACCESS BANK - 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 ACCESS BANK GHANA to buy it.
Related Correlations Analysis
Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.
ACCESS BANK Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ACCESS BANK stock to make a market-neutral strategy. Peer analysis of ACCESS BANK could also be used in its relative valuation, which is a method of valuing ACCESS BANK by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |