InBody CoLtd Correlations
| 041830 Stock | KRW 23,150 400.00 1.76% |
The correlation of InBody CoLtd 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.
InBody CoLtd Correlation With Market
Average diversification
The correlation between InBody CoLtd and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding InBody CoLtd and DJI in the same portfolio, assuming nothing else is changed.
InBody |
The ability to find closely correlated positions to InBody CoLtd could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace InBody CoLtd 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 InBody CoLtd - 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 InBody CoLtd to buy it.
Moving together with InBody Stock
Moving against InBody Stock
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between InBody Stock performing well and InBody CoLtd 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 InBody CoLtd'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 100120 | 1.15 | 0.30 | 0.27 | (6.78) | 1.00 | 2.73 | 6.78 | |||
| 043610 | 1.78 | 0.20 | 0.14 | 0.61 | 1.67 | 3.98 | 13.28 | |||
| 096530 | 1.78 | 0.29 | 0.21 | (14.92) | 1.41 | 4.18 | 20.97 | |||
| 086900 | 1.89 | 0.22 | 0.11 | 1.01 | 2.27 | 4.68 | 24.81 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in InBody CoLtd 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.Did you try this?
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