Kelt Exploration Correlations
| KEL Stock | CAD 7.80 0.26 3.23% |
The current 90-days correlation between Kelt Exploration and Parex Resources is 0.44 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Kelt Exploration moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kelt Exploration moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Kelt Exploration Correlation With Market
Modest diversification
The correlation between Kelt Exploration and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kelt Exploration and DJI in the same portfolio, assuming nothing else is changed.
Kelt |
The ability to find closely correlated positions to Kelt Exploration could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kelt Exploration 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 Kelt Exploration - 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 Kelt Exploration to buy it.
Moving against Kelt Stock
| 0.64 | MSFT | Microsoft CDR | PairCorr |
| 0.64 | MSFT | Microsoft Corp CDR | PairCorr |
| 0.61 | SAGE | Sage Potash Corp | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Kelt Exploration 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.Did you try this?
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