Hwasung Industrial Correlations

002460 Stock

9,810 70.00 0.72%

The current 90-days correlation between Hwasung Industrial and Wonbang Tech Co is 0.48 (i.e., Very weak diversification). The correlation of Hwasung Industrial 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.

Hwasung Industrial Correlation With Market

Significant diversification

The correlation between Hwasung Industrial Co 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 Hwasung Industrial Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Hwasung Stock

0.65	005490	POSCO Holdings	Pair Corr
0.61	034220	LG Display	Pair Corr
0.58	005935	Samsung Electronics	Pair Corr
0.51	005930	Samsung Electronics	Pair Corr
0.46	034730	SK Holdings	Pair Corr

Related Correlations Analysis

	053080	009190	351320	011390	025440	133820	133820	005950	005950	293580
053080		0.61	0.76	-0.77	0.82	-0.64	-0.64	0.97	0.97	-0.41	053080
009190	0.61		0.55	-0.19	0.42	-0.55	-0.55	0.6	0.6	0.16	009190
351320	0.76	0.55		-0.65	0.59	-0.43	-0.43	0.81	0.81	-0.36	351320
011390	-0.77	-0.19	-0.65		-0.78	0.38	0.38	-0.76	-0.76	0.82	011390
025440	0.82	0.42	0.59	-0.78		-0.6	-0.6	0.85	0.85	-0.51	025440
133820	-0.64	-0.55	-0.43	0.38	-0.6		1.0	-0.63	-0.63	0.05	133820
133820	-0.64	-0.55	-0.43	0.38	-0.6	1.0		-0.63	-0.63	0.05	133820
005950	0.97	0.6	0.81	-0.76	0.85	-0.63	-0.63		1.0	-0.39	005950
005950	0.97	0.6	0.81	-0.76	0.85	-0.63	-0.63	1.0		-0.39	005950
293580	-0.41	0.16	-0.36	0.82	-0.51	0.05	0.05	-0.39	-0.39		293580
	053080	009190	351320	011390	025440	133820	133820	005950	005950	293580

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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

133820	+ 1.0	133820
005950	+ 1.0	005950
005950	+ 0.97	053080
005950	+ 0.97	053080
005950	+ 0.85	025440
005950	+ 0.85	025440

High negative correlations

025440	- 0.78	011390
011390	- 0.77	053080
005950	- 0.76	011390
005950	- 0.76	011390
011390	- 0.65	351320
133820	- 0.64	053080

Risk-Adjusted Indicators

There is a big difference between Hwasung Stock performing well and Hwasung Industrial 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 Hwasung Industrial'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
053080	2.21	(0.39)	0.00	(2.17)	0.00	0.00	3.97	(4.65)	13.42
009190	2.14	(0.19)	0.00	(0.43)	0.00	0.00	3.95	(5.49)	15.65
351320	1.89	(0.46)	0.00	(1.20)	0.00	0.00	2.92	(4.87)	15.07
011390	3.65	0.79	0.20	2.43	3.35	(4.75)	10.02	(5.41)	43.62
025440	2.15	(0.42)	0.00	0.61	0.00	0.00	3.03	(6.02)	24.20
133820	2.16	0.14	0.06	0.18	2.28	(2.80)	3.59	(4.37)	25.82
133820	2.16	0.14	0.06	0.18	2.28	(2.80)	3.59	(4.37)	25.82
005950	2.05	(0.53)	0.00	(1.88)	0.00	0.00	3.85	(4.67)	14.50
005950	2.05	(0.53)	0.00	(1.88)	0.00	0.00	3.85	(4.67)	14.50
293580	3.38	0.63	0.17	(0.75)	2.86	(4.24)	14.61	(6.31)	41.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hwasung Industrial 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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