| FIRRY Stock | | | USD 12.35 0.00 0.00% |
The current 90-days correlation between First Tractor and KION GROUP AG is 0.01 (i.e., Significant diversification). The correlation of First Tractor 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.
First Tractor Correlation With Market
Significant diversification
The correlation between First Tractor Co and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Tractor Co and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to First Tractor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Tractor 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 First Tractor - 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 First Tractor Co to buy it.
Moving together with First Pink Sheet
Moving against First Pink Sheet
Related Correlations Analysis
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First Tractor Corporate Management