TECK RESOURCES Correlations

Stocks Germany . 
Stock . TECK RESOURCES B
TEKB Stock  EUR 37.18  0.10  0.27%   
The current 90-days correlation between TECK RESOURCES B and TELECOM ITALRISP ADR10 is -0.09 (i.e., Good diversification). The correlation of TECK RESOURCES 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.

TECK RESOURCES Correlation With Market

Significant diversification

The correlation between TECK RESOURCES B and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TECK RESOURCES B and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to TECK RESOURCES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TECK RESOURCES 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 TECK RESOURCES - 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 TECK RESOURCES B to buy it.

Moving together with TECK Stock

  0.69APC Apple IncPairCorr
  0.7APC Apple IncPairCorr
  0.69APC Apple IncPairCorr
  0.69APC Apple IncPairCorr
  0.82SSU Samsung ElectronicsPairCorr
  0.82SSUN Samsung ElectronicsPairCorr
  0.82SSUN Samsung ElectronicsPairCorr
  0.84SSU Samsung ElectronicsPairCorr

Moving against TECK Stock

  0.51TCID Telkom Indonesia TbkPairCorr
  0.49E908 Lyxor 1PairCorr
  0.41AMZ Amazon IncPairCorr
  0.4TCID Telkom Indonesia TbkPairCorr
  0.34TCID Telkom Indonesia TbkPairCorr

Related Correlations Analysis


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

US8
+ 0.92
CC6
US8
+ 0.76
5TJ
CC6
+ 0.74
5TJ
US8
+ 0.66
TQI1
CAC1
+ 0.57
CVB
CC6
+ 0.57
TQI1
  

High negative correlations

CC6
- 0.21
CAC1
US8
- 0.04
CAC1
CAC1
- 0.04
TQI1
M8Z
- 0.0
US8
M8Z
- 0.0
CC6
M8Z
- 0.0
CAC1

Risk-Adjusted Indicators

There is a big difference between TECK Stock performing well and TECK RESOURCES 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 TECK RESOURCES'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 TECK RESOURCES 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?

Run Volatility Analysis Now

   

Volatility Analysis

Get historical volatility and risk analysis based on latest market data
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY