JUSUNG ENGINEERING Correlations
| 036930 Stock | KRW 40,200 2,250 5.30% |
The current 90-days correlation between JUSUNG ENGINEERING and Seoul Semiconductor Co is 0.24 (i.e., Modest diversification). The correlation of JUSUNG ENGINEERING 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.
JUSUNG ENGINEERING Correlation With Market
Significant diversification
The correlation between JUSUNG ENGINEERING Co 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 JUSUNG ENGINEERING Co and DJI in the same portfolio, assuming nothing else is changed.
JUSUNG |
The ability to find closely correlated positions to JUSUNG ENGINEERING could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JUSUNG ENGINEERING 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 JUSUNG ENGINEERING - 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 JUSUNG ENGINEERING Co to buy it.
Moving together with JUSUNG Stock
Moving against JUSUNG Stock
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