Korea Air Correlations

005430 Stock

50,700 100.00 0.20%

The current 90-days correlation between Korea Air Svc and PJ Metal Co is 0.13 (i.e., Average diversification). The correlation of Korea Air 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.

Korea Air Correlation With Market

Significant diversification

The correlation between Korea Air Svc and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Korea Air Svc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Korea Stock

0.68

005380

Hyundai Motor

Pair Corr

Moving against Korea Stock

0.61	035420	Naver	Pair Corr
0.49	011200	HMM Co	Pair Corr
0.43	000660	SK Hynix	Pair Corr
0.36	005930	Samsung Electronics	Pair Corr
0.35	005935	Samsung Electronics	Pair Corr

Related Correlations Analysis

	128660	051910	28513K	134380	003080	109860	004105	004140
128660		-0.39	0.26	0.1	0.07	0.48	0.25	0.34	128660
051910	-0.39		0.49	0.45	-0.3	-0.23	-0.24	0.19	051910
28513K	0.26	0.49		0.17	-0.48	-0.09	-0.02	0.15	28513K
134380	0.1	0.45	0.17		0.14	-0.06	-0.29	0.54	134380
003080	0.07	-0.3	-0.48	0.14		0.46	-0.03	0.14	003080
109860	0.48	-0.23	-0.09	-0.06	0.46		0.48	0.21	109860
004105	0.25	-0.24	-0.02	-0.29	-0.03	0.48		-0.07	004105
004140	0.34	0.19	0.15	0.54	0.14	0.21	-0.07		004140
	128660	051910	28513K	134380	003080	109860	004105	004140

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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

004140	+ 0.54	134380
28513K	+ 0.49	051910
109860	+ 0.48	128660
004105	+ 0.48	109860
109860	+ 0.46	003080
134380	+ 0.45	051910

High negative correlations

003080	- 0.48	28513K
051910	- 0.39	128660
003080	- 0.3	051910
004105	- 0.29	134380
004105	- 0.24	051910
109860	- 0.23	051910

Risk-Adjusted Indicators

There is a big difference between Korea Stock performing well and Korea Air 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 Korea Air'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
128660	1.04	0.28	0.28	0.95	0.85	(1.32)	3.90	(1.25)	9.73
051910	2.22	0.03	0.02	(0.01)	2.76	(2.36)	4.54	(4.74)	12.25
28513K	1.11	0.10	0.12	(3.06)	1.26	(1.33)	3.44	(2.17)	11.94
134380	0.70	0.04	0.12	(0.38)	0.81	(0.86)	1.72	(1.26)	5.09
003080	0.54	0.01	0.07	0.66	0.77	(0.59)	1.20	(1.37)	5.45
109860	1.43	0.17	0.11	0.39	1.67	(1.72)	4.25	(2.42)	13.30
004105	2.82	(0.30)	0.00	(2.58)	0.00	0.00	4.68	(4.80)	27.69
004140	1.53	0.17	0.10	0.28	2.04	(1.60)	2.84	(2.65)	14.61

Be your own money manager

Our tools can tell you how much better you can do entering a position in Korea Air 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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