Dongkuk Steel Correlations

001230 Stock

7,520 70.00 0.92%

The current 90-days correlation between Dongkuk Steel Mill and Sewoon Medical Co is 0.26 (i.e., Modest diversification). The correlation of Dongkuk Steel 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.

Dongkuk Steel Correlation With Market

Average diversification

The correlation between Dongkuk Steel Mill and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dongkuk Steel Mill and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Dongkuk Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dongkuk Steel 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 Dongkuk Steel - 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 Dongkuk Steel Mill to buy it.

Moving together with Dongkuk Stock

0.77	005490	POSCO Holdings	Pair Corr
0.77	011170	Lotte Chemical Corp	Pair Corr
0.62	004020	Hyundai Steel	Pair Corr
0.76	001430	SeAH Bestee	Pair Corr

Moving against Dongkuk Stock

0.47	215600	SillaJen	Pair Corr
0.37	065660	AnterogenCoLtd	Pair Corr

Related Correlations Analysis

	100700	035510	001290	309960	026890	030210	005940	101160
100700		0.61	0.31	0.08	0.26	-0.01	-0.27	0.11	100700
035510	0.61		0.38	-0.04	0.14	0.46	-0.19	0.09	035510
001290	0.31	0.38		-0.52	0.58	0.23	-0.62	-0.06	001290
309960	0.08	-0.04	-0.52		-0.49	-0.09	0.72	0.61	309960
026890	0.26	0.14	0.58	-0.49		-0.17	-0.48	-0.28	026890
030210	-0.01	0.46	0.23	-0.09	-0.17		-0.22	0.09	030210
005940	-0.27	-0.19	-0.62	0.72	-0.48	-0.22		0.58	005940
101160	0.11	0.09	-0.06	0.61	-0.28	0.09	0.58		101160
	100700	035510	001290	309960	026890	030210	005940	101160

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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

005940	+ 0.72	309960
035510	+ 0.61	100700
101160	+ 0.61	309960
026890	+ 0.58	001290
101160	+ 0.58	005940
030210	+ 0.46	035510

High negative correlations

005940	- 0.62	001290
309960	- 0.52	001290
026890	- 0.49	309960
005940	- 0.48	026890
101160	- 0.28	026890
005940	- 0.27	100700

Risk-Adjusted Indicators

There is a big difference between Dongkuk Stock performing well and Dongkuk Steel 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 Dongkuk Steel'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
100700	0.76	0.00	0.03	0.02	0.94	(0.91)	1.86	(1.82)	5.20
035510	3.12	0.72	0.25	7.06	2.35	(3.76)	9.05	(4.48)	38.43
001290	0.76	0.00	0.04	(0.02)	0.84	(0.94)	1.64	(1.61)	4.00
309960	2.34	0.37	0.16	2.51	2.19	(3.11)	4.63	(4.19)	37.08
026890	1.54	(0.01)	0.00	(0.05)	0.00	0.00	3.35	(2.93)	8.46
030210	2.06	0.45	0.17	(1.45)	2.64	(2.56)	5.67	(2.91)	25.19
005940	0.98	0.10	0.11	(0.89)	1.07	(1.09)	2.71	(1.63)	7.04
101160	1.99	0.40	0.18	(2.08)	2.29	(2.18)	4.02	(3.32)	10.32

Be your own money manager

Our tools can tell you how much better you can do entering a position in Dongkuk Steel 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.

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