| SOIEF Stock | | | USD 25.25 0.43 1.67% |
The current 90-days correlation between Stolt Nielsen Limited and COSCO SHIPPING Holdings is 0.35 (i.e., Weak diversification). The correlation of Stolt Nielsen 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.
Stolt Nielsen Correlation With Market
Significant diversification
The correlation between Stolt Nielsen Limited and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stolt Nielsen Limited and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Stolt Nielsen could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Stolt Nielsen 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 Stolt Nielsen - 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 Stolt Nielsen Limited to buy it.
Moving together with Stolt Pink Sheet
Moving against Stolt Pink Sheet
Related Correlations Analysis
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Be your own money manager
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Stolt Nielsen Corporate Management