Colliers International Correlations
| CIGI Stock | | | CAD 189.61 1.18 0.62% |
The current 90-days correlation between Colliers International and FirstService Corp is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Colliers International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Colliers International Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Colliers International Correlation With Market
Significant diversification
The correlation between Colliers International Group and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Colliers International Group and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Colliers International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Colliers International 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 Colliers International - 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 Colliers International Group to buy it.
Moving together with Colliers Stock
Moving against Colliers Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Colliers Stock performing well and Colliers International 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 Colliers International'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
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