QINGCI GAMES Correlations
| Z56 Stock | 0.27 0.00 0.00% |
The current 90-days correlation between QINGCI GAMES INC and Sea Limited is 0.06 (i.e., Significant diversification). The correlation of QINGCI GAMES 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.
QINGCI GAMES Correlation With Market
Average diversification
The correlation between QINGCI GAMES INC and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding QINGCI GAMES INC and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to QINGCI GAMES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace QINGCI GAMES 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 QINGCI GAMES - 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 QINGCI GAMES INC to buy it.
Moving against QINGCI Stock
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