Tele2 AB Correlations

TLTZF Stock  USD 14.10  0.00  0.00%   
The current 90-days correlation between Tele2 AB and PLDT Inc ADR is -0.04 (i.e., Good diversification). The correlation of Tele2 AB 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.

Tele2 AB Correlation With Market

Average diversification

The correlation between Tele2 AB and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tele2 AB and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Tele2 AB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tele2 AB 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 Tele2 AB - 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 Tele2 AB to buy it.

Moving together with Tele2 Pink Sheet

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Moving against Tele2 Pink Sheet

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  0.4307274NBG7 BAYNGR 5 15PairCorr
  0.38372546AW1 GEORGE WASH UNIVPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
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CSXXYTEF
SBHGFKORE
TEFKORE
DTEGFDNTUY
  
High negative correlations   
SBHGFPHI
TEFPHI
DNTUYKORE
CSXXYPHI
DNTUYSBHGF
PHIKORE

Risk-Adjusted Indicators

There is a big difference between Tele2 Pink Sheet performing well and Tele2 AB 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 Tele2 AB'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 Tele2 AB 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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Tele2 AB Corporate Management