SeAH Bestee Correlations

001430 Stock

19,560 190.00 0.96%

The current 90-days correlation between SeAH Bestee and Air Busan Co is 0.27 (i.e., Modest diversification). The correlation of SeAH Bestee 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.

SeAH Bestee Correlation With Market

Average diversification

The correlation between SeAH Bestee and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SeAH Bestee and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SeAH Stock

0.69	005490	POSCO Holdings	Pair Corr
0.76	011170	Lotte Chemical Corp	Pair Corr
0.65	004020	Hyundai Steel	Pair Corr
0.76	001230	Dongkuk Steel Mill	Pair Corr

Moving against SeAH Stock

0.58	005387	Hyundai Motor	Pair Corr
0.49	005385	Hyundai Motor	Pair Corr
0.42	034730	SK Holdings	Pair Corr
0.42	105560	KB Financial Group	Pair Corr

Related Correlations Analysis

	034810	002700	298690	090370	033530	023590	299030
034810		0.72	-0.47	0.72	0.87	0.91	0.46	034810
002700	0.72		-0.46	0.65	0.84	0.82	0.31	002700
298690	-0.47	-0.46		-0.36	-0.54	-0.53	0.01	298690
090370	0.72	0.65	-0.36		0.71	0.7	0.13	090370
033530	0.87	0.84	-0.54	0.71		0.85	0.43	033530
023590	0.91	0.82	-0.53	0.7	0.85		0.29	023590
299030	0.46	0.31	0.01	0.13	0.43	0.29		299030
	034810	002700	298690	090370	033530	023590	299030

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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

023590	+ 0.91	034810
033530	+ 0.87	034810
023590	+ 0.85	033530
033530	+ 0.84	002700
023590	+ 0.82	002700
002700	+ 0.72	034810

High negative correlations

033530	- 0.54	298690
023590	- 0.53	298690
298690	- 0.47	034810
298690	- 0.46	002700
090370	- 0.36	298690

Risk-Adjusted Indicators

There is a big difference between SeAH Stock performing well and SeAH Bestee 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 SeAH Bestee'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
034810	1.10	0.33	0.28	0.62	0.93	(1.34)	3.58	(2.19)	8.66
002700	0.70	0.07	0.15	0.27	0.71	(0.84)	1.97	(1.12)	3.32
298690	0.91	(0.04)	0.00	(0.29)	0.00	0.00	2.23	(1.72)	6.90
090370	1.36	0.17	0.11	0.85	1.68	(1.41)	3.83	(2.51)	8.75
033530	0.82	0.15	0.16	1.53	0.90	(0.98)	2.15	(1.86)	9.66
023590	1.20	0.33	0.31	(3.05)	1.01	(1.55)	3.10	(2.24)	15.47
299030	2.91	0.50	0.16	0.49	2.78	(3.28)	7.82	(5.09)	23.05

Be your own money manager

Our tools can tell you how much better you can do entering a position in SeAH Bestee 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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