| OXBC Stock | | | USD 33.50 0.10 0.30% |
The current 90-days correlation between Oxford Bank and PSB Holdings is -0.28 (i.e., Very good diversification). The correlation of Oxford Bank 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.
Oxford Bank Correlation With Market
Modest diversification
The correlation between Oxford Bank and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oxford Bank and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Oxford Bank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oxford Bank 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 Oxford Bank - 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 Oxford Bank to buy it.
Moving together with Oxford Pink Sheet
Moving against Oxford Pink Sheet
Related Correlations Analysis
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Be your own money manager
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Oxford Bank Corporate Management