T-MOBILE Correlations

The current 90-days correlation between T MOBILE INCDL and Apple Inc is 0.13 (i.e., Average diversification). The correlation of T-MOBILE 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. If the correlation is 0, the equities are not correlated; they are entirely random.

The ability to find closely correlated positions to T-MOBILE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace T-MOBILE 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 T-MOBILE - 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 T MOBILE INCDL 00001 to buy it.