HOME AFRIKA Correlations
| HAL Stock | 0.34 0.02 5.56% |
The current 90-days correlation between HOME AFRIKA LTD and CO OPERATIVE BANK OF is 0.11 (i.e., Average diversification). The correlation of HOME AFRIKA 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.
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The ability to find closely correlated positions to HOME AFRIKA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HOME AFRIKA 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 HOME AFRIKA - 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 HOME AFRIKA LTD to buy it.
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HOME AFRIKA 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 HOME AFRIKA stock to make a market-neutral strategy. Peer analysis of HOME AFRIKA could also be used in its relative valuation, which is a method of valuing HOME AFRIKA by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |