International Business Correlations

Stocks . Germany . 
Stock . International Business Machines
IBM Stock  EUR 216.00  0.20  0.09%   
The current 90-days correlation between International Business and Apple Inc is 0.27 (i.e., Modest diversification). The correlation of International Business 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.

International Business Correlation With Market

Weak diversification

The correlation between International Business Machine and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Business Machine and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to International Business could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace International Business 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 International Business - 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 International Business Machines to buy it.

Moving together with International Stock

  0.8APC Apple IncPairCorr
  0.79APC Apple IncPairCorr
  0.8APC Apple IncPairCorr
  0.8APC Apple IncPairCorr
  0.67MSF MicrosoftPairCorr
  0.65MSF MicrosoftPairCorr
  0.66MSF MicrosoftPairCorr
  0.65MSF MicrosoftPairCorr
  0.67MSF MicrosoftPairCorr
  0.61CYL CryoLifePairCorr
  0.61CYL CRYOLIFEPairCorr
  0.66UFH US FOODS HOLDINGPairCorr
  0.66KOMA KOMATSU LTD SPONSPairCorr
  0.72HXL HexcelPairCorr
  0.62WX7 Corporate Office ProPairCorr
  0.62LGI LEGAL GENERALPairCorr
  0.73AZ5 AutoZonePairCorr
  0.64EQN2 EquinixPairCorr
  0.63PPB Flutter Entertainment PLCPairCorr
  0.8APC Apple IncPairCorr
  0.814GE Grupo Mxico SABPairCorr
  0.730XHR Xenia Hotels ResortsPairCorr
  0.64PTX Palantir TechnologiesPairCorr

Moving against International Stock

  0.54EII EisaiPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between International Stock performing well and International Business 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 International Business' 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

Our tools can tell you how much better you can do entering a position in International Business without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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