HAMMONIA Schiffsholding Correlations
| HHX Stock | EUR 274.00 24.00 9.60% |
The current 90-days correlation between HAMMONIA Schiffsholding and HUDSON GLOBAL INCDL 001 is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as HAMMONIA Schiffsholding moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if HAMMONIA Schiffsholding AG moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
HAMMONIA Schiffsholding Correlation With Market
Good diversification
The correlation between HAMMONIA Schiffsholding AG and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HAMMONIA Schiffsholding AG and DJI in the same portfolio, assuming nothing else is changed.
HAMMONIA |
The ability to find closely correlated positions to HAMMONIA Schiffsholding could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HAMMONIA Schiffsholding 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 HAMMONIA Schiffsholding - 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 HAMMONIA Schiffsholding AG to buy it.
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Moving against HAMMONIA Stock
Related Correlations Analysis
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