| HELG Stock | | | NOK 144.00 1.00 0.69% |
The current 90-days correlation between Helgeland Sparebank and Sparebanken Mre is 0.3 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Helgeland Sparebank moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Helgeland Sparebank moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Helgeland Sparebank Correlation With Market
Significant diversification
The correlation between Helgeland Sparebank and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Helgeland Sparebank and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Helgeland Sparebank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Helgeland Sparebank 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 Helgeland Sparebank - 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 Helgeland Sparebank to buy it.
Moving against Helgeland Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Helgeland Stock performing well and Helgeland Sparebank 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 Helgeland Sparebank'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.
Be your own money manager
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