| BKUT Stock | | | USD 488.00 0.00 0.00% |
The current 90-days correlation between Bank of Utica and PSB Holdings is -0.07 (i.e., Good diversification). The correlation of Bank of Utica 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Bank of Utica Correlation With Market
Significant diversification
The correlation between Bank of Utica and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank of Utica and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Bank of Utica could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of Utica 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 Bank of Utica - 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 Bank of Utica to buy it.
Moving together with Bank Pink Sheet
Moving against Bank Pink Sheet
Related Correlations Analysis
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Be your own money manager
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Bank of Utica Corporate Management