TELE2 B Correlations

Stocks . Germany . 
Stock . TELE2 B
NCYD Stock  EUR 9.77  0.09  0.91%   
The current 90-days correlation between TELE2 B and Apple Inc is 0.16 (i.e., Average diversification). The correlation of TELE2 B 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.

TELE2 B Correlation With Market

Significant diversification

The correlation between TELE2 B and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TELE2 B and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to TELE2 B could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TELE2 B 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 TELE2 B - 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 TELE2 B to buy it.

Moving together with TELE2 Stock

  0.67APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.67APC Apple IncPairCorr
  0.65AMZ Amazon IncPairCorr
  0.68KBIA KB Financial GroupPairCorr
  0.72SID State BankPairCorr

Moving against TELE2 Stock

  0.56TKDA Takeda PharmaceuticalPairCorr
  0.47DBPD Xtrackers ShortDAXPairCorr
  0.34LLD2 Lloyds Banking GroupPairCorr
  0.32OIX ORIXPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between TELE2 Stock performing well and TELE2 B 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 TELE2 B'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

Our tools can tell you how much better you can do entering a position in TELE2 B 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.

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Correlation Analysis

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