Moonbae Steel Correlations

008420 Stock

2,525 100.00 3.81%

The current 90-days correlation between Moonbae Steel and FOODWELL Co is 0.02 (i.e., Significant 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

Average diversification

The correlation between Moonbae Steel and DJI is 0.16 (i.e., Average 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

0.86	005490	POSCO Holdings	Pair Corr
0.8	011170	Lotte Chemical Corp	Pair Corr
0.83	004020	Hyundai Steel	Pair Corr
0.8	001230	Dongkuk Steel Mill	Pair Corr
0.77	003030	Seah Steel Corp	Pair Corr
0.7	001430	SeAH Bestee	Pair Corr

Moving against Moonbae Stock

0.63	105560	KB Financial Group	Pair Corr
0.49	005387	Hyundai Motor	Pair Corr
0.46	005385	Hyundai Motor	Pair Corr
0.38	034730	SK Holdings	Pair Corr

Related Correlations Analysis

	290720	005670	005610	114090	900340	005300	003920
290720		0.18	-0.33	0.64	0.12	0.05	-0.54	290720
005670	0.18		-0.47	-0.01	-0.26	-0.2	0.29	005670
005610	-0.33	-0.47		-0.43	0.56	0.55	0.08	005610
114090	0.64	-0.01	-0.43		-0.2	-0.4	-0.41	114090
900340	0.12	-0.26	0.56	-0.2		0.77	-0.28	900340
005300	0.05	-0.2	0.55	-0.4	0.77		-0.3	005300
003920	-0.54	0.29	0.08	-0.41	-0.28	-0.3		003920
	290720	005670	005610	114090	900340	005300	003920

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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

005300	+ 0.77	900340
114090	+ 0.64	290720
900340	+ 0.56	005610
005300	+ 0.55	005610
003920	+ 0.29	005670
005670	+ 0.18	290720

High negative correlations

003920	- 0.54	290720
005610	- 0.47	005670
114090	- 0.43	005610
003920	- 0.41	114090
005300	- 0.4	114090
005610	- 0.33	290720

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
290720	2.23	(0.31)	0.00	(1.15)	0.00	0.00	4.23	(5.90)	22.80
005670	1.92	0.00	0.00	(0.08)	0.00	0.00	6.58	(4.18)	21.71
005610	1.40	0.19	0.16	(1.21)	1.49	(1.75)	3.78	(2.49)	11.47
114090	0.95	(0.08)	0.00	(0.37)	0.00	0.00	2.43	(2.56)	7.32
900340	1.76	(0.01)	0.03	0.06	2.07	(2.10)	4.36	(3.56)	12.16
005300	1.11	(0.07)	0.00	(0.68)	0.00	0.00	2.32	(2.24)	6.29
003920	1.51	0.39	0.24	2.63	1.51	(1.77)	4.35	(3.39)	13.00

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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