| MS-PP Preferred Stock | | | 26.09 0.06 0.23% |
The current 90-days correlation between Morgan Stanley and Morgan Stanley is 0.62 (i.e., Poor diversification). The correlation of Morgan Stanley 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.
Morgan Stanley Correlation With Market
Significant diversification
The correlation between Morgan Stanley and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Morgan Stanley and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Morgan Stanley could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Morgan Stanley 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 Morgan Stanley - 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 Morgan Stanley to buy it.
Moving together with Morgan Preferred Stock
Moving against Morgan Preferred Stock
Related Correlations Analysis
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Morgan Stanley Corporate Management