| 8BU Stock | | | EUR 103.30 1.40 1.37% |
The current 90-days correlation between Brunello Cucinelli SpA and LVMH Mot Hennessy is 0.22 (i.e., Modest diversification). The correlation of Brunello Cucinelli 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.
Brunello Cucinelli Correlation With Market
Average diversification
The correlation between Brunello Cucinelli SpA and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brunello Cucinelli SpA and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Brunello Cucinelli could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Brunello Cucinelli 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 Brunello Cucinelli - 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 Brunello Cucinelli SpA to buy it.
Moving together with Brunello Stock
Moving against Brunello Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Brunello Stock performing well and Brunello Cucinelli Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Brunello Cucinelli's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Be your own money manager
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