Totens Sparebank Correlations

The current 90-days correlation between Totens Sparebank and Sparebank 1 SMN is -0.14 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Totens Sparebank moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Totens Sparebank moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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