Sappe Public Correlations
| SAPPE Stock | THB 79.50 0.75 0.95% |
The current 90-days correlation between Sappe Public and Minor International Public is 0.13 (i.e., Average diversification). The correlation of Sappe Public 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.
Sappe Public Correlation With Market
Good diversification
The correlation between Sappe Public and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sappe Public and DJI in the same portfolio, assuming nothing else is changed.
Sappe |
The ability to find closely correlated positions to Sappe Public could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sappe Public 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 Sappe Public - 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 Sappe Public to buy it.
Moving against Sappe Stock
| 0.48 | ACC | Advanced Connection | PairCorr |
| 0.4 | CFRESH | Seafresh Industry Public | PairCorr |
| 0.33 | AMANAH | Amanah Leasing Public | PairCorr |
Related Correlations Analysis
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