Electreon Wireless Correlations

ELWSF Stock  USD 14.50  0.00  0.00%   
The current 90-days correlation between Electreon Wireless and Arcadis NV is -0.58 (i.e., Excellent diversification). The correlation of Electreon Wireless 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.

Electreon Wireless Correlation With Market

Excellent diversification

The correlation between Electreon Wireless and DJI is -0.66 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electreon Wireless and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Electreon Wireless could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Electreon Wireless 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 Electreon Wireless - 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 Electreon Wireless to buy it.

Moving against Electreon Pink Sheet

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Related Correlations Analysis

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Our tools can tell you how much better you can do entering a position in Electreon Wireless 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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