SOLOCAL GROUP Correlations

Stocks . Germany . 
Stock . SOLOCAL GROUP
QS3 Stock   2.43  0.02  0.83%   
The current 90-days correlation between SOLOCAL GROUP and Apple Inc is -0.09 (i.e., Good diversification). The correlation of SOLOCAL GROUP 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.

SOLOCAL GROUP Correlation With Market

Good diversification

The correlation between SOLOCAL GROUP and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SOLOCAL GROUP and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SOLOCAL GROUP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SOLOCAL GROUP 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 SOLOCAL GROUP - 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 SOLOCAL GROUP to buy it.

Moving together with SOLOCAL Stock

  0.61APC Apple IncPairCorr
  0.61APC Apple IncPairCorr
  0.61APC Apple IncPairCorr
  0.61MSF MicrosoftPairCorr
  0.61MSF MicrosoftPairCorr
  0.62MSF MicrosoftPairCorr
  0.686GAA Grupo Aval AccionesPairCorr
  0.676GAA Grupo Aval AccionesPairCorr
  0.82MFZA Mitsubishi UFJ FinancialPairCorr

Moving against SOLOCAL Stock

  0.86HYU Hyundai MotorPairCorr
  0.86HYU Hyundai MotorPairCorr
  0.84HYU Hyundai MotorPairCorr
  0.62ECHA Ecopetrol SAPairCorr
  0.57ECHA Ecopetrol SAPairCorr
  0.31DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between SOLOCAL Stock performing well and SOLOCAL GROUP 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 SOLOCAL GROUP'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

Our tools can tell you how much better you can do entering a position in SOLOCAL GROUP 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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