Voss Veksel Correlations
| VVL Stock | | | NOK 388.00 2.00 0.51% |
The current 90-days correlation between Voss Veksel og and Melhus Sparebank is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Voss Veksel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Voss Veksel og moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Voss Veksel Correlation With Market
Significant diversification
The correlation between Voss Veksel og and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voss Veksel og and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Voss Veksel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Voss Veksel 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 Voss Veksel - 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 Voss Veksel og to buy it.
Moving together with Voss Stock
Moving against Voss Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Voss Stock performing well and Voss Veksel 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 Voss Veksel'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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