Jinro Distillers Correlations

018120 Stock

KRW 17,090 80.00 0.47%

The current 90-days correlation between Jinro Distillers and Samsung Electronics Co is -0.03 (i.e., Good diversification). The correlation of Jinro Distillers 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.

Jinro Distillers Correlation With Market

Modest diversification

The correlation between Jinro Distillers Co and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jinro Distillers Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Jinro Stock

0.67	005380	Hyundai Motor	Pair Corr
0.59	000270	Kia Corp	Pair Corr
0.5	005930	Samsung Electronics	Pair Corr
0.39	005387	Hyundai Motor	Pair Corr
0.37	005490	POSCO Holdings	Pair Corr

Related Correlations Analysis

	005930	005935	000660	034730	005490	005387	005380	005385	000270
005930		0.64	0.34	0.0	0.48	0.19	0.14	0.07	0.03	005930
005935	0.64		0.17	0.01	0.38	-0.01	-0.06	-0.08	-0.13	005935
000660	0.34	0.17		0.64	0.12	0.39	-0.02	0.31	0.07	000660
034730	0.0	0.01	0.64		-0.28	0.53	-0.31	0.56	-0.44	034730
005490	0.48	0.38	0.12	-0.28		-0.33	0.09	-0.42	0.26	005490
005387	0.19	-0.01	0.39	0.53	-0.33		0.23	0.78	-0.03	005387
005380	0.14	-0.06	-0.02	-0.31	0.09	0.23		0.0	0.83	005380
005385	0.07	-0.08	0.31	0.56	-0.42	0.78	0.0		-0.23	005385
000270	0.03	-0.13	0.07	-0.44	0.26	-0.03	0.83	-0.23		000270
	005930	005935	000660	034730	005490	005387	005380	005385	000270

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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

000270	+ 0.83	005380
005385	+ 0.78	005387
005935	+ 0.64	005930
034730	+ 0.64	000660
005385	+ 0.56	034730
005387	+ 0.53	034730

High negative correlations

000270	- 0.44	034730
005385	- 0.42	005490
005387	- 0.33	005490
005380	- 0.31	034730
005490	- 0.28	034730
000270	- 0.23	005385

Risk-Adjusted Indicators

There is a big difference between Jinro Stock performing well and Jinro Distillers 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 Jinro Distillers' 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
005930	1.31	0.21	0.14	1.34	1.09	(1.83)	3.43	(2.42)	7.25
005935	1.34	0.10	0.05	0.82	1.72	(1.41)	2.99	(2.79)	10.27
000660	2.40	0.44	0.15	(1.70)	2.60	(2.83)	5.95	(4.52)	19.70
034730	1.15	0.03	0.01	(0.14)	1.97	(1.08)	3.10	(3.06)	10.65
005490	2.32	0.37	0.15	7.37	2.17	(2.81)	6.87	(4.80)	12.64
005387	1.15	0.09	0.05	0.21	1.35	(1.19)	2.91	(2.59)	7.60
005380	1.38	0.08	0.05	0.13	1.52	(1.61)	3.90	(3.01)	9.84
005385	0.92	0.04	0.03	2.70	1.10	(1.04)	2.10	(2.15)	5.34
000270	1.29	0.09	0.05	0.34	1.67	(1.36)	2.84	(2.33)	8.06

Be your own money manager

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