Goobit Group Correlations
| BTCX Stock | SEK 0.15 0.02 15.38% |
The current 90-days correlation between Goobit Group AB and Media and Games is -0.02 (i.e., Good diversification). The correlation of Goobit 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Goobit Group Correlation With Market
Very good diversification
The correlation between Goobit Group AB and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goobit Group AB and DJI in the same portfolio, assuming nothing else is changed.
Goobit |
The ability to find closely correlated positions to Goobit 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 Goobit 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 Goobit 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 Goobit Group AB to buy it.
Moving together with Goobit Stock
| 0.66 | CS | CoinShares International | PairCorr |
| 0.71 | MANG | Mangold Fondkommission | PairCorr |
| 0.72 | NP3-PREF | NP3 Fastigheter AB | PairCorr |
Moving against Goobit Stock
Related Correlations Analysis
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