Ingevec Correlations
| INGEVEC Stock | | | CLP 175.00 0.19 0.11% |
The current 90-days correlation between Ingevec and Multiexport Foods SA is -0.04 (i.e., Good diversification). The correlation of Ingevec 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.
The ability to find closely correlated positions to Ingevec could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ingevec 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 Ingevec - 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 Ingevec to buy it.
Moving together with Ingevec Stock
Moving against Ingevec Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Ingevec Stock performing well and Ingevec 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 Ingevec'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.
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