Skanska AB Correlations
| SKSBF Stock | USD 20.10 0.10 0.50% |
The correlation of Skanska AB 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.
Skanska AB Correlation With Market
Significant diversification
The correlation between Skanska AB and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Skanska AB and DJI in the same portfolio, assuming nothing else is changed.
Skanska |
The ability to find closely correlated positions to Skanska AB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Skanska AB 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 Skanska AB - 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 Skanska AB to buy it.
Moving together with Skanska Pink Sheet
Moving against Skanska Pink Sheet
| 0.44 | EC | Ecopetrol SA ADR | PairCorr |
| 0.35 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.4 | NTRR | Neutra Corp | PairCorr |
| 0.4 | 458140AK6 | INTEL P 48 | PairCorr |
Related Correlations Analysis
Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Skanska AB 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.Did you try this?
Run Idea Analyzer Now
Idea AnalyzerAnalyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |
| All Next | Launch Module |