| SULMF Stock | | | USD 0.01 0.00 0.00% |
The correlation of Sulliden Mining 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.
Sulliden Mining Correlation With Market
Significant diversification
The correlation between Sulliden Mining Capital 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 Sulliden Mining Capital and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Sulliden Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sulliden Mining 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 Sulliden Mining - 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 Sulliden Mining Capital to buy it.
Moving together with Sulliden Pink Sheet
Moving against Sulliden Pink Sheet
Related Correlations Analysis
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Sulliden Mining Corporate Management