Tax-loss harvesting using correlated positions

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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    CRM + 0.86 UBER JPM + 0.74 A XOM + 0.73 JPM MSFT + 0.71 META CRM + 0.66 META CRM + 0.63 MSFT

High negative correlations    MRK - 0.42 UBER XOM - 0.41 UBER MRK - 0.4 CRM MRK - 0.37 META XOM - 0.32 CRM MRK - 0.22 A

Risk-Adjusted Indicators

There is a big difference between a company's stock performing well and the company itself 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 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.