Lgerin Egill Correlations
| OLGERD Stock | 17.70 0.20 1.12% |
The current 90-days correlation between lgerin Egill Skallag and Alvotech is 0.38 (i.e., Weak diversification). The correlation of Lgerin Egill 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.
Lgerin Egill Correlation With Market
Good diversification
The correlation between lgerin Egill Skallagrmsson and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding lgerin Egill Skallagrmsson and DJI in the same portfolio, assuming nothing else is changed.
Lgerin |
The ability to find closely correlated positions to Lgerin Egill could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Lgerin Egill 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 Lgerin Egill - 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 lgerin Egill Skallagrmsson to buy it.
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Lgerin Stock performing well and Lgerin Egill 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 Lgerin Egill'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.Lgerin Egill Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Lgerin Egill stock to make a market-neutral strategy. Peer analysis of Lgerin Egill could also be used in its relative valuation, which is a method of valuing Lgerin Egill by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |