Haesung Industrial Correlations

034810 Stock

6,550 40.00 0.61%

The current 90-days correlation between Haesung Industrial and Kbi Metal Co is 0.31 (i.e., Weak diversification). The correlation of Haesung Industrial 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.

Haesung Industrial Correlation With Market

Modest diversification

The correlation between Haesung Industrial Co and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Haesung Industrial Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Haesung Stock

0.64	005930	Samsung Electronics	Pair Corr
0.67	005935	Samsung Electronics	Pair Corr
0.76	011200	HMM Co	Pair Corr
0.8	005490	POSCO Holdings	Pair Corr
0.84	030200	KT Corporation	Pair Corr

Related Correlations Analysis

	024840	003230	009190	198940	005610	100700	077360
024840		-0.12	-0.01	0.33	-0.21	0.45	0.23	024840
003230	-0.12		-0.81	-0.82	0.4	-0.17	0.72	003230
009190	-0.01	-0.81		0.63	-0.37	0.01	-0.62	009190
198940	0.33	-0.82	0.63		-0.49	0.25	-0.49	198940
005610	-0.21	0.4	-0.37	-0.49		0.12	0.39	005610
100700	0.45	-0.17	0.01	0.25	0.12		0.14	100700
077360	0.23	0.72	-0.62	-0.49	0.39	0.14		077360
	024840	003230	009190	198940	005610	100700	077360

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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

077360	+ 0.72	003230
198940	+ 0.63	009190
100700	+ 0.45	024840
005610	+ 0.4	003230
077360	+ 0.39	005610
198940	+ 0.33	024840

High negative correlations

198940	- 0.82	003230
009190	- 0.81	003230
077360	- 0.62	009190
077360	- 0.49	198940
005610	- 0.49	198940
005610	- 0.37	009190

Risk-Adjusted Indicators

There is a big difference between Haesung Stock performing well and Haesung Industrial 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 Haesung Industrial'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
024840	2.57	0.11	0.04	0.11	2.98	(2.86)	5.96	(4.86)	14.41
003230	2.16	0.42	0.20	2.07	1.77	(2.62)	6.08	(3.28)	18.08
009190	1.28	(0.23)	0.00	(1.05)	0.00	0.00	2.66	(3.28)	11.11
198940	1.33	(0.12)	0.00	(0.20)	0.00	0.00	3.60	(2.58)	9.57
005610	1.53	0.42	0.25	31.17	1.31	(2.00)	5.71	(2.16)	11.47
100700	0.77	(0.04)	0.00	(0.30)	0.00	0.00	1.86	(1.86)	5.20
077360	2.14	0.24	0.10	0.28	2.19	(2.60)	4.29	(3.71)	10.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in Haesung Industrial 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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