President Bakery Correlations
| PB Stock | THB 59.75 0.25 0.42% |
The current 90-days correlation between President Bakery Public and Minor International Public is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as President Bakery moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if President Bakery Public moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
President Bakery Correlation With Market
Good diversification
The correlation between President Bakery Public and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding President Bakery Public and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to President Bakery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace President Bakery 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 President Bakery - 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 President Bakery Public to buy it.
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