TANGANDA TEA Correlations
| TANG Stock | 294.80 0.00 0.00% |
The current 90-days correlation between TANGANDA TEA PANY and FIRST MUTUAL PROPERTIES is -0.07 (i.e., Good diversification). The correlation of TANGANDA TEA 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.
TANGANDA TEA Correlation With Market
Significant diversification
The correlation between TANGANDA TEA PANY and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TANGANDA TEA PANY and DJI in the same portfolio, assuming nothing else is changed.
TANGANDA |
The ability to find closely correlated positions to TANGANDA TEA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TANGANDA TEA 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 TANGANDA TEA - 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 TANGANDA TEA PANY to buy it.
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between TANGANDA Stock performing well and TANGANDA TEA 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 TANGANDA TEA'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.TANGANDA TEA Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with TANGANDA TEA stock to make a market-neutral strategy. Peer analysis of TANGANDA TEA could also be used in its relative valuation, which is a method of valuing TANGANDA TEA by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |