Korea Steel Correlations

007280 Stock

1,733 12.00 0.69%

The current 90-days correlation between Korea Steel and RF Materials Co is -0.17 (i.e., Good diversification). The correlation of Korea Steel 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 Steel Correlation With Market

Significant diversification

The correlation between Korea Steel Co and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Korea Steel Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Korea Stock

0.67	023000	Samwon Steel	Pair Corr
0.67	026940	Bookook Steel	Pair Corr

Moving against Korea Stock

0.7	373220	LG Energy Solution	Pair Corr
0.58	025890	Han Kook Steel	Pair Corr
0.53	055550	Shinhan Financial	Pair Corr
0.5	002690	Dong Il Steel	Pair Corr
0.34	105560	KB Financial Group	Pair Corr

Related Correlations Analysis

	138490	272290	327260	007070	036170	417200	050090
138490		0.66	0.89	-0.66	0.51	0.18	-0.36	138490
272290	0.66		0.8	-0.77	-0.15	0.59	0.05	272290
327260	0.89	0.8		-0.81	0.21	0.45	-0.21	327260
007070	-0.66	-0.77	-0.81		-0.02	-0.48	0.04	007070
036170	0.51	-0.15	0.21	-0.02		-0.27	-0.26	036170
417200	0.18	0.59	0.45	-0.48	-0.27		0.57	417200
050090	-0.36	0.05	-0.21	0.04	-0.26	0.57		050090
	138490	272290	327260	007070	036170	417200	050090

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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

327260	+ 0.89	138490
327260	+ 0.8	272290
272290	+ 0.66	138490
417200	+ 0.59	272290
050090	+ 0.57	417200
036170	+ 0.51	138490

High negative correlations

007070	- 0.81	327260
007070	- 0.77	272290
007070	- 0.66	138490
417200	- 0.48	007070
050090	- 0.36	138490
417200	- 0.27	036170

Risk-Adjusted Indicators

There is a big difference between Korea Stock performing well and Korea Steel 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 Steel'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
138490	1.34	0.34	0.23	0.39	1.21	(1.58)	3.09	(2.21)	10.84
272290	2.35	0.53	0.22	0.95	2.23	(2.85)	6.90	(3.37)	16.39
327260	2.13	0.60	0.23	0.75	2.12	(2.38)	6.16	(4.17)	19.10
007070	1.45	(0.30)	0.00	(2.70)	0.00	0.00	2.59	(4.01)	16.16
036170	1.43	0.14	0.09	0.93	1.86	(1.56)	3.94	(3.05)	13.51
417200	2.56	0.47	0.17	0.25	2.35	(3.17)	6.43	(3.62)	26.41
050090	2.30	0.01	0.00	(0.06)	0.00	0.00	3.03	(7.23)	40.12

Be your own money manager

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