LPN Development Correlations
| LPN Stock | THB 2.84 0.02 0.71% |
The current 90-days correlation between LPN Development Public and WHA Public is -0.17 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as LPN Development moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if LPN Development Public moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
LPN Development Correlation With Market
Modest diversification
The correlation between LPN Development Public and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LPN Development Public and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to LPN Development could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LPN Development 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 LPN Development - 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 LPN Development Public to buy it.
Moving together with LPN Stock
Related Correlations Analysis
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