PSI 20 Correlations
| PSI20 Index | 6,418 12.55 0.20% |
The correlation of PSI 20 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.
The ability to find closely correlated positions to PSI 20 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PSI 20 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 PSI 20 - 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 PSI 20 Stock to buy it.
Moving together with PSI Index
Related Correlations Analysis
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PSI 20 Distribution of Returns
Predicted Return Density |
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