Korea Line Correlations

005880 Stock

1,732 54.00 3.22%

The current 90-days correlation between Korea Line and Sam Chun Dang is 0.4 (i.e., Very weak diversification). The correlation of Korea Line 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 Line Correlation With Market

Good diversification

The correlation between Korea Line and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Korea Line and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Korea Line 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 Line 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 Line - 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 Line to buy it.

Moving together with Korea Stock

0.69	950130	Access Bio	Pair Corr
0.8	124560	Taewoong Logistics CoLtd	Pair Corr
0.75	222800	SIMMTECH	Pair Corr

Moving against Korea Stock

0.37

230240

Hana Financial 7

Pair Corr

Related Correlations Analysis

	058400	351320	011390	011390	000250	115160	133820	500003	133820	005950
058400		-0.52	0.67	0.67	-0.31	-0.45	0.31	-0.28	0.31	-0.49	058400
351320	-0.52		-0.58	-0.58	0.46	0.57	-0.58	0.19	-0.58	0.67	351320
011390	0.67	-0.58		1.0	-0.72	-0.77	0.61	-0.02	0.61	-0.8	011390
011390	0.67	-0.58	1.0		-0.72	-0.77	0.61	-0.02	0.61	-0.8	011390
000250	-0.31	0.46	-0.72	-0.72		0.93	-0.72	-0.16	-0.72	0.9	000250
115160	-0.45	0.57	-0.77	-0.77	0.93		-0.75	-0.01	-0.75	0.92	115160
133820	0.31	-0.58	0.61	0.61	-0.72	-0.75		-0.19	1.0	-0.76	133820
500003	-0.28	0.19	-0.02	-0.02	-0.16	-0.01	-0.19		-0.19	-0.02	500003
133820	0.31	-0.58	0.61	0.61	-0.72	-0.75	1.0	-0.19		-0.76	133820
005950	-0.49	0.67	-0.8	-0.8	0.9	0.92	-0.76	-0.02	-0.76		005950
	058400	351320	011390	011390	000250	115160	133820	500003	133820	005950

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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

011390	+ 1.0	011390
133820	+ 1.0	133820
115160	+ 0.93	000250
005950	+ 0.92	115160
005950	+ 0.9	000250
011390	+ 0.67	058400

High negative correlations

005950	- 0.8	011390
005950	- 0.8	011390
115160	- 0.77	011390
115160	- 0.77	011390
005950	- 0.76	133820
005950	- 0.76	133820

Risk-Adjusted Indicators

There is a big difference between Korea Stock performing well and Korea Line 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 Line'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
058400	1.50	0.30	0.10	(1.22)	1.30	(2.18)	4.09	(2.96)	13.77
351320	2.24	(0.02)	(0.04)	0.00	2.90	(2.55)	5.42	(5.54)	20.21
011390	3.24	0.71	0.16	2.66	3.12	(4.02)	9.46	(4.82)	43.62
011390	3.24	0.71	0.16	2.66	3.12	(4.02)	9.46	(4.82)	43.62
000250	3.17	(0.54)	0.00	1.15	0.00	0.00	6.20	(6.49)	17.04
115160	1.90	(0.83)	0.00	(53.46)	0.00	0.00	2.76	(5.69)	10.50
133820	2.12	0.18	0.05	0.48	2.12	(2.74)	3.59	(3.69)	25.82
500003	1.50	0.05	(0.05)	(0.15)	1.75	(1.69)	2.90	(2.76)	9.46
133820	2.12	0.18	0.05	0.48	2.12	(2.74)	3.59	(3.69)	25.82
005950	1.97	(0.63)	0.00	(2.06)	0.00	0.00	3.85	(4.67)	14.50

Be your own money manager

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