Nabtesco Correlations
| NCTKY Stock | USD 10.85 2.23 25.87% |
The current 90-days correlation between Nabtesco and Nidec is 0.16 (i.e., Average diversification). The correlation of Nabtesco 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Nabtesco Correlation With Market
Good diversification
The correlation between Nabtesco and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nabtesco and DJI in the same portfolio, assuming nothing else is changed.
Nabtesco |
The ability to find closely correlated positions to Nabtesco could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nabtesco 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 Nabtesco - 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 Nabtesco to buy it.
Moving against Nabtesco OTC Stock
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Related Correlations Analysis
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