Oriental Precision Correlations

014940 Stock

KRW 5,260 415.00 8.57%

The current 90-days correlation between Oriental Precision and Sungchang Autotech Co is -0.12 (i.e., Good diversification). The correlation of Oriental Precision 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.

Oriental Precision Correlation With Market

Significant diversification

The correlation between Oriental Precision Engineering and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oriental Precision Engineering and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Oriental Precision could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oriental Precision 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 Oriental Precision - 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 Oriental Precision Engineering to buy it.

Moving together with Oriental Stock

0.63	041510	SM Entertainment	Pair Corr
0.79	035420	Naver	Pair Corr
0.69	078160	MEDIPOST	Pair Corr
0.64	230240	Hana Financial 7	Pair Corr
0.85	032640	LG Uplus	Pair Corr
0.63	241840	ASTORY CoLtd	Pair Corr
0.65	122870	YG Entertainment	Pair Corr
0.84	035900	JYP Entertainment	Pair Corr

Moving against Oriental Stock

0.63	000660	SK Hynix	Pair Corr
0.55	055550	Shinhan Financial	Pair Corr
0.47	005930	Samsung Electronics	Pair Corr
0.43	005387	Hyundai Motor	Pair Corr
0.41	005935	Samsung Electronics	Pair Corr
0.4	005385	Hyundai Motor	Pair Corr
0.36	005380	Hyundai Motor	Pair Corr
0.33	066570	LG Electronics	Pair Corr
0.53	227100	Design	Pair Corr
0.36	179290	MITECH CoLtd	Pair Corr

Related Correlations Analysis

	053080	080470	037350	091590	006360	137080	237750	101490
053080		0.75	0.77	-0.16	0.0	0.51	0.95	0.19	053080
080470	0.75		0.42	-0.2	-0.23	0.11	0.69	-0.19	080470
037350	0.77	0.42		0.11	0.05	0.82	0.83	0.53	037350
091590	-0.16	-0.2	0.11		-0.04	0.25	-0.03	0.26	091590
006360	0.0	-0.23	0.05	-0.04		0.08	0.05	0.16	006360
137080	0.51	0.11	0.82	0.25	0.08		0.64	0.79	137080
237750	0.95	0.69	0.83	-0.03	0.05	0.64		0.28	237750
101490	0.19	-0.19	0.53	0.26	0.16	0.79	0.28		101490
	053080	080470	037350	091590	006360	137080	237750	101490

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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

237750	+ 0.95	053080
237750	+ 0.83	037350
137080	+ 0.82	037350
101490	+ 0.79	137080
037350	+ 0.77	053080
080470	+ 0.75	053080

High negative correlations

006360	- 0.23	080470
091590	- 0.2	080470
101490	- 0.19	080470
091590	- 0.16	053080
006360	- 0.04	091590
237750	- 0.03	091590

Risk-Adjusted Indicators

There is a big difference between Oriental Stock performing well and Oriental Precision 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 Oriental Precision'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
053080	2.23	(0.35)	0.00	1.36	0.00	0.00	3.98	(4.65)	15.14
080470	1.47	(0.20)	0.00	1.33	0.00	0.00	4.05	(4.09)	14.78
037350	1.80	(0.19)	0.00	4.35	0.00	0.00	4.06	(3.43)	11.29
091590	1.54	0.16	0.04	0.63	2.64	(1.75)	3.51	(3.00)	28.82
006360	1.85	(0.05)	0.00	(0.40)	0.00	0.00	3.65	(3.60)	13.07
137080	2.39	0.19	0.05	(0.37)	2.77	(2.65)	5.14	(5.18)	11.87
237750	1.49	(0.17)	0.00	0.93	0.00	0.00	4.09	(3.10)	10.77
101490	2.37	0.05	0.01	(0.11)	2.68	(2.74)	5.63	(4.64)	13.14

Be your own money manager

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