Cloud Air Correlations

Stocks . Korea . 
Stock . Cloud Air CoLtd
036170 Stock  KRW 856.00  45.00  4.99%   
The current 90-days correlation between Cloud Air CoLtd and Daechang Steel Co is 0.13 (i.e., Average diversification). The correlation of Cloud Air 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.

Cloud Air Correlation With Market

Significant diversification

The correlation between Cloud Air CoLtd and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cloud Air CoLtd and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Cloud Air could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cloud Air 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 Cloud Air - 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 Cloud Air CoLtd to buy it.

Moving together with Cloud Stock

  0.61222800 SIMMTECHPairCorr
  0.61082270 GemVaxKAEL CoLtdPairCorr
  0.65011200 HMM CoPairCorr
  0.7005490 POSCO HoldingsPairCorr

Related Correlations Analysis

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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   
012620
+ 0.86
140520
123750
+ 0.68
140520
123750
+ 0.62
012620
004140
+ 0.61
005010
004140
+ 0.46
140520
123750
+ 0.45
004140
  
High negative correlations   
043610
- 0.36
005010
043610
- 0.15
140520
043610
- 0.09
012620
123750
- 0.02
043610

Risk-Adjusted Indicators

There is a big difference between Cloud Stock performing well and Cloud Air 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 Cloud Air'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cloud Air 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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