Sungwoo Hitech Correlations

015750 Stock   5,020  80.00  1.57%   
The current 90-days correlation between Sungwoo Hitech and Samsung Biologics Co is -0.02 (i.e., Good diversification). The correlation of Sungwoo Hitech 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.

Sungwoo Hitech Correlation With Market

Significant diversification

The correlation between Sungwoo Hitech Co and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sungwoo Hitech Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Sungwoo Hitech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sungwoo Hitech 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 Sungwoo Hitech - 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 Sungwoo Hitech Co to buy it.

Moving together with Sungwoo Stock

  0.82005935 Samsung ElectronicsPairCorr
  0.84005930 Samsung ElectronicsPairCorr
  0.65373220 LG Energy SolutionPairCorr
  0.68207940 Samsung BiologicsPairCorr
  0.94051915 LG ChemPairCorr
  0.95051910 LG ChemicalsPairCorr
  0.93006400 Samsung SDIPairCorr
  0.85005387 Hyundai MotorPairCorr
  0.82005385 Hyundai MotorPairCorr
  0.86293780 AptaBio TherapeuticsPairCorr
  0.87147760 MicrofriendPairCorr
  0.95302430 InnometryPairCorr
  0.97033240 Jahwa ElectronPairCorr
  0.97053080 Wonbang TechPairCorr

Moving against Sungwoo Stock

  0.44203650 Dream Security coPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Sungwoo Stock performing well and Sungwoo Hitech 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 Sungwoo Hitech'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
005935  1.62 (0.23) 0.00  0.91  0.00 
 2.74 
 10.84 
005930  1.63 (0.24) 0.00  2.37  0.00 
 3.52 
 10.64 
373220  2.18 (0.19) 0.00 (1.93) 0.00 
 4.09 
 17.72 
000660  2.43  0.04  0.01  0.11  2.93 
 4.89 
 11.89 
207940  0.91 (0.09) 0.00 (4.31) 0.00 
 2.57 
 7.43 
051915  2.07 (0.59) 0.00 (1.36) 0.00 
 4.34 
 14.51 
051910  1.88 (0.50) 0.00 (1.84) 0.00 
 4.14 
 12.83 
006400  2.45 (0.64) 0.00  2.16  0.00 
 4.45 
 15.04 
005387  1.35 (0.24) 0.00 (1.18) 0.00 
 2.58 
 7.99 
005385  1.19 (0.22) 0.00 (2.62) 0.00 
 2.87 
 7.51 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sungwoo Hitech 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.

Did you try this?

Run Risk-Return Analysis Now

   

Risk-Return Analysis

View associations between returns expected from investment and the risk you assume
All  Next Launch Module