The current 90-days correlation between Aspo Oyj and Tokmanni Group Oyj is 0.28 (i.e., Modest diversification). The correlation of Aspo Oyj 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.
Aspo Oyj Correlation With Market
Significant diversification
The correlation between Aspo Oyj and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aspo Oyj and DJI in the same portfolio, assuming nothing else is changed.
Aspo
The ability to find closely correlated positions to Aspo Oyj could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aspo Oyj 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 Aspo Oyj - 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 Aspo Oyj to buy it.
There is a big difference between Aspo Stock performing well and Aspo Oyj 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 Aspo Oyj'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.
Our tools can tell you how much better you can do entering a position in Aspo Oyj 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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Elected by the shareholders, the Aspo Oyj's board of directors comprises two types of representatives: Aspo Oyj inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Aspo. The board's role is to monitor Aspo Oyj's management team and ensure that shareholders' interests are well served. Aspo Oyj's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Aspo Oyj's outside directors are responsible for providing unbiased perspectives on the board's policies.