Union Bank Correlations
| UBP Stock | 36.80 0.10 0.27% |
The current 90-days correlation between Union Bank and Metropolitan Bank Trust is 0.32 (i.e., Weak diversification). The correlation of Union Bank 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.
Union Bank Correlation With Market
Good diversification
The correlation between Union Bank of and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Union Bank of and DJI in the same portfolio, assuming nothing else is changed.
Union |
The ability to find closely correlated positions to Union Bank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Union Bank 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 Union Bank - 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 Union Bank of to buy it.
Moving together with Union Stock
| 0.79 | MBT | Metropolitan Bank Trust | PairCorr |
| 0.86 | SECB | Security Bank Corp | PairCorr |
| 0.74 | PNB | Philippine National Bank | PairCorr |
| 0.7 | EW | East West Banking | PairCorr |
| 0.63 | SM | SM Investments Corp | PairCorr |
| 0.86 | AC | Ayala Corp | PairCorr |
| 0.75 | BPI | Bank of the | PairCorr |
| 0.63 | MER | Manila Electric | PairCorr |
| 0.73 | AEV | Aboitiz Equity Ventures | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Union Bank 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.Did you try this?
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