Taekwang Ind Correlations

003240 Stock

753,000 8,000 1.07%

The current 90-days correlation between Taekwang Ind and GAMEVIL is 0.11 (i.e., Average diversification). The correlation of Taekwang Ind 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.

Taekwang Ind Correlation With Market

Good diversification

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

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

Moving together with Taekwang Stock

0.71	005490	POSCO Holdings	Pair Corr
0.64	009830	Hanwha Solutions	Pair Corr
0.8	011170	Lotte Chemical Corp	Pair Corr
0.91	004020	Hyundai Steel	Pair Corr
0.62	001230	Dongkuk Steel Mill	Pair Corr
0.72	006650	Korea Petro Chemical	Pair Corr
0.92	003030	Seah Steel Corp	Pair Corr
0.75	036030	KT Hitel	Pair Corr
0.83	029780	Samsung Card	Pair Corr
0.76	298380	ABL Bio	Pair Corr

Moving against Taekwang Stock

0.82	041190	Woori Technology Inv	Pair Corr
0.67	215600	SillaJen	Pair Corr
0.67	217330	Cytogen	Pair Corr
0.36	065660	AnterogenCoLtd	Pair Corr

Related Correlations Analysis

	058730	109960	063080	014680	014440	026940	007280
058730		-0.09	-0.17	-0.04	0.15	0.61	-0.08	058730
109960	-0.09		0.46	-0.05	-0.5	-0.13	-0.11	109960
063080	-0.17	0.46		-0.75	-0.94	-0.4	-0.51	063080
014680	-0.04	-0.05	-0.75		0.66	0.25	0.75	014680
014440	0.15	-0.5	-0.94	0.66		0.42	0.45	014440
026940	0.61	-0.13	-0.4	0.25	0.42		0.11	026940
007280	-0.08	-0.11	-0.51	0.75	0.45	0.11		007280
	058730	109960	063080	014680	014440	026940	007280

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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

007280	+ 0.75	014680
014440	+ 0.66	014680
026940	+ 0.61	058730
063080	+ 0.46	109960
007280	+ 0.45	014440
026940	+ 0.42	014440

High negative correlations

014440	- 0.94	063080
014680	- 0.75	063080
007280	- 0.51	063080
014440	- 0.5	109960
026940	- 0.4	063080
063080	- 0.17	058730

Risk-Adjusted Indicators

There is a big difference between Taekwang Stock performing well and Taekwang Ind 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 Taekwang Ind'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
058730	1.42	0.04	0.06	(0.38)	1.80	(1.53)	3.14	(3.29)	8.91
109960	2.35	(0.31)	0.00	3.34	0.00	0.00	5.54	(8.28)	16.93
063080	1.94	(0.73)	0.00	(10.31)	0.00	0.00	2.84	(4.84)	10.71
014680	2.47	0.53	0.24	(0.82)	2.27	(3.12)	7.55	(4.96)	16.23
014440	1.36	0.39	0.27	1.39	1.21	(1.72)	4.56	(2.47)	11.53
026940	1.52	0.07	0.09	(0.85)	1.58	(2.01)	4.44	(3.12)	9.81
007280	1.14	0.12	0.16	(0.43)	1.08	(1.42)	2.94	(2.67)	12.43

Be your own money manager

Our tools can tell you how much better you can do entering a position in Taekwang Ind 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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