Moonbae Steel Correlations

008420 Stock

2,490 25.00 1.01%

The current 90-days correlation between Moonbae Steel and Union Materials Corp is 0.25 (i.e., Modest diversification). The correlation of Moonbae 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.

Moonbae Steel Correlation With Market

Good diversification

The correlation between Moonbae Steel and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Moonbae Steel and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Moonbae 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 Moonbae 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 Moonbae 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 Moonbae Steel to buy it.

Moving together with Moonbae Stock

0.73	051910	LG Chemicals	Pair Corr
0.84	005490	POSCO Holdings	Pair Corr
0.61	011170	Lotte Chemical Corp	Pair Corr
0.65	086520	Ecopro Co Split	Pair Corr
0.69	001430	SeAH Bestee	Pair Corr
0.67	066570	LG Electronics	Pair Corr

Moving against Moonbae Stock

0.36

000660

SK Hynix

Pair Corr

Related Correlations Analysis

	047400	28513K	001390	011780	023450	104830	166090	298050
047400		-0.31	0.24	0.14	0.18	-0.03	-0.01	0.07	047400
28513K	-0.31		0.34	0.22	0.0	0.53	0.5	0.44	28513K
001390	0.24	0.34		0.53	0.33	0.58	0.59	0.37	001390
011780	0.14	0.22	0.53		0.46	0.81	0.8	0.75	011780
023450	0.18	0.0	0.33	0.46		0.53	0.57	0.66	023450
104830	-0.03	0.53	0.58	0.81	0.53		0.95	0.82	104830
166090	-0.01	0.5	0.59	0.8	0.57	0.95		0.84	166090
298050	0.07	0.44	0.37	0.75	0.66	0.82	0.84		298050
	047400	28513K	001390	011780	023450	104830	166090	298050

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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

166090	+ 0.95	104830
298050	+ 0.84	166090
298050	+ 0.82	104830
104830	+ 0.81	011780
166090	+ 0.8	011780
298050	+ 0.75	011780

High negative correlations

28513K	- 0.31	047400
104830	- 0.03	047400
166090	- 0.01	047400
023450	- 0.0	28513K

Risk-Adjusted Indicators

There is a big difference between Moonbae Stock performing well and Moonbae 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 Moonbae 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
047400	2.12	0.01	0.02	(0.05)	2.97	(2.16)	4.47	(4.18)	19.15
28513K	1.29	0.00	0.02	(0.03)	1.46	(1.54)	3.44	(2.39)	11.94
001390	1.54	0.12	0.06	1.94	1.86	(1.77)	3.82	(2.82)	12.18
011780	2.36	0.13	0.06	(0.17)	2.76	(2.85)	7.53	(5.16)	15.80
023450	0.94	0.16	0.18	(0.98)	0.73	(1.41)	3.15	(1.47)	10.29
104830	2.13	0.29	0.14	(0.48)	2.02	(2.49)	4.12	(3.32)	17.17
166090	2.96	0.36	0.12	(0.27)	3.16	(3.35)	6.57	(5.11)	22.01
298050	2.12	0.12	0.06	(0.55)	2.35	(2.39)	5.64	(4.62)	15.47

Be your own money manager

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