| KEL Stock | | | EUR 77.12 0.42 0.54% |
The current 90-days correlation between KELLOGG Dusseldorf and Apple Inc is -0.17 (i.e., Good diversification). The correlation of KELLOGG Dusseldorf 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.
KELLOGG Dusseldorf Correlation With Market
Weak diversification
The correlation between KELLOGG Dusseldorf and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KELLOGG Dusseldorf and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to KELLOGG Dusseldorf could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KELLOGG Dusseldorf 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 KELLOGG Dusseldorf - 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 KELLOGG Dusseldorf to buy it.
Moving together with KELLOGG Stock
Moving against KELLOGG Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between KELLOGG Stock performing well and KELLOGG Dusseldorf 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 KELLOGG Dusseldorf'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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