Abraham Bailin posted a nice write-up on tax-loss harvesting complete with an example trade of selling one fund to book a loss for tax purposes and using the proceeds to buy another fund with a 0.99 correlation to the sold fund. However, the write-up does not mention how to find these highly correlated funds.
There are no convenient sources for this data today, but Inveska will change that. Inveska will make it easy for advisors to find statistically correlated funds so they can help their clients tax-loss harvest effectively.
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