BYON Correlations
| 032980 Stock | KRW 302.00 24.00 8.63% |
The current 90-days correlation between BYON and ChipsMedia is 0.15 (i.e., Average diversification). The correlation of BYON 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.
BYON Correlation With Market
Significant diversification
The correlation between BYON Co and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BYON Co and DJI in the same portfolio, assuming nothing else is changed.
BYON |
The ability to find closely correlated positions to BYON could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BYON 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 BYON - 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 BYON Co to buy it.
Moving together with BYON Stock
Moving against BYON Stock
| 0.9 | 003030 | Seah Steel Corp | PairCorr |
| 0.85 | 009830 | Hanwha Solutions | PairCorr |
| 0.85 | 006650 | Korea Petro Chemical | PairCorr |
| 0.75 | 004020 | Hyundai Steel | PairCorr |
| 0.68 | 293780 | AptaBio Therapeutics | PairCorr |
| 0.54 | 033240 | Jahwa Electron | PairCorr |
| 0.45 | 302430 | Innometry | PairCorr |
| 0.41 | 053080 | Wonbang Tech | PairCorr |
| 0.38 | 005490 | POSCO Holdings | PairCorr |
| 0.35 | 011170 | Lotte Chemical Corp | PairCorr |
| 0.92 | 065680 | UJU Electronics | PairCorr |
| 0.87 | 100840 | SNTEnergy | PairCorr |
| 0.85 | 098460 | Koh Young Technology | PairCorr |
| 0.85 | 196170 | ALTEOGEN | PairCorr |
| 0.83 | 050760 | Spolytech | PairCorr |
| 0.83 | 018470 | Choil Aluminum | PairCorr |
| 0.83 | 122870 | YG Entertainment | PairCorr |
| 0.82 | 004560 | Hyundai BNG Steel | PairCorr |
| 0.82 | 139130 | Dgb Financial | PairCorr |
| 0.8 | 019770 | Seoyon Topmetal | PairCorr |
| 0.77 | 072950 | Vissem Electronics | PairCorr |
| 0.77 | 214150 | CLASSYS | PairCorr |
| 0.74 | 128660 | PJ Metal | PairCorr |
| 0.69 | 071670 | A Tech Solution | PairCorr |
| 0.63 | 281740 | Lake Materials | PairCorr |
| 0.59 | 036930 | JUSUNG ENGINEERING | PairCorr |
| 0.46 | 013580 | Kyeryong Construction | PairCorr |
| 0.89 | 009680 | Motonic | PairCorr |
| 0.87 | 024110 | Industrial Bank | PairCorr |
| 0.85 | 068050 | Pan Entertainment | PairCorr |
| 0.84 | 083450 | Global Standard Tech | PairCorr |
| 0.84 | 048910 | Daewon Media | PairCorr |
| 0.83 | 036000 | YeaRimDang Publishing | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between BYON Stock performing well and BYON 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 BYON'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 094360 | 3.20 | 0.69 | 0.19 | 0.37 | 3.09 | 7.86 | 20.65 | |||
| 173940 | 1.93 | (0.07) | 0.00 | (0.99) | 0.00 | 4.57 | 12.91 | |||
| 110990 | 3.32 | 0.59 | 0.15 | 0.47 | 3.50 | 6.59 | 23.99 | |||
| 006910 | 1.79 | 0.17 | 0.08 | 0.12 | 2.22 | 4.49 | 9.75 | |||
| 448710 | 2.54 | 0.43 | 0.18 | (11.72) | 2.51 | 6.85 | 12.29 | |||
| 299030 | 3.16 | 0.52 | 0.14 | 0.38 | 3.28 | 7.82 | 23.05 | |||
| 263720 | 2.32 | 0.08 | 0.04 | 0.06 | 2.74 | 7.03 | 18.93 | |||
| 032540 | 0.68 | 0.08 | 0.19 | 0.64 | 0.68 | 1.68 | 5.11 |
BYON Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BYON stock to make a market-neutral strategy. Peer analysis of BYON could also be used in its relative valuation, which is a method of valuing BYON by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
BYON Corporate Management
Elected by the shareholders, the BYON's board of directors comprises two types of representatives: BYON inside directors who are chosen from within the company, and outside directors, selected externally and held independent of BYON. The board's role is to monitor BYON's management team and ensure that shareholders' interests are well served. BYON's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, BYON's outside directors are responsible for providing unbiased perspectives on the board's policies.