Korea Petro Correlations

006650 Stock

92,500 3,200 3.34%

The current 90-days correlation between Korea Petro Chemical and Mobileleader CoLtd is 0.3 (i.e., Weak diversification). The correlation of Korea Petro 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 Petro Correlation With Market

Modest diversification

The correlation between Korea Petro Chemical and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Korea Petro Chemical and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Korea Stock

0.88	009830	Hanwha Solutions	Pair Corr
0.64	004020	Hyundai Steel	Pair Corr
0.73	003030	Seah Steel Corp	Pair Corr
0.84	293780	AptaBio Therapeutics	Pair Corr
0.69	029780	Samsung Card	Pair Corr
0.87	298380	ABL Bio	Pair Corr

Moving against Korea Stock

0.7	217330	Cytogen	Pair Corr
0.66	041190	Woori Technology Inv	Pair Corr
0.41	051910	LG Chemicals	Pair Corr
0.37	215600	SillaJen	Pair Corr

Related Correlations Analysis

	100030	020760	153460	026890	020180	066670	087260	091580
100030		-0.22	0.0	0.38	0.05	-0.33	-0.21	-0.02	100030
020760	-0.22		-0.46	0.1	0.18	0.49	0.5	0.03	020760
153460	0.0	-0.46		-0.38	0.3	-0.3	-0.5	0.43	153460
026890	0.38	0.1	-0.38		-0.22	0.33	0.48	-0.23	026890
020180	0.05	0.18	0.3	-0.22		0.03	-0.19	0.55	020180
066670	-0.33	0.49	-0.3	0.33	0.03		0.79	0.0	066670
087260	-0.21	0.5	-0.5	0.48	-0.19	0.79		-0.28	087260
091580	-0.02	0.03	0.43	-0.23	0.55	0.0	-0.28		091580
	100030	020760	153460	026890	020180	066670	087260	091580

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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

087260	+ 0.79	066670
091580	+ 0.55	020180
087260	+ 0.5	020760
066670	+ 0.49	020760
087260	+ 0.48	026890
091580	+ 0.43	153460

High negative correlations

087260	- 0.5	153460
153460	- 0.46	020760
026890	- 0.38	153460
066670	- 0.33	100030
066670	- 0.3	153460
091580	- 0.28	087260

Risk-Adjusted Indicators

There is a big difference between Korea Stock performing well and Korea Petro 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 Petro'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
100030	0.86	(0.05)	0.00	(0.43)	0.00	0.00	2.08	(2.45)	10.01
020760	1.15	(0.07)	0.00	(0.67)	0.00	0.00	3.47	(2.38)	10.16
153460	1.33	(0.01)	0.00	(0.01)	0.00	0.00	3.38	(2.56)	8.57
026890	1.53	0.05	0.02	0.08	1.83	(1.69)	3.35	(2.93)	8.46
020180	2.56	0.05	0.01	0.15	3.27	(2.78)	6.70	(4.94)	32.57
066670	1.13	0.04	0.02	0.07	1.33	(1.29)	2.85	(2.39)	6.51
087260	1.37	0.01	0.00	0.02	1.83	(1.44)	2.68	(2.90)	11.22
091580	2.26	0.23	0.09	0.24	2.53	(2.58)	4.86	(4.64)	16.82

Be your own money manager

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