Winix Correlations

044340 Stock

KRW 6,030 140.00 2.27%

The current 90-days correlation between Winix Inc and AfreecaTV Co is 0.02 (i.e., Significant diversification). The correlation of Winix 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.

Winix Correlation With Market

Average diversification

The correlation between Winix Inc and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Winix Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Winix Stock

0.61	034730	SK Holdings	Pair Corr
0.72	026940	Bookook Steel	Pair Corr
0.63	071670	A Tech Solution	Pair Corr
0.64	094360	ChipsMedia	Pair Corr
0.68	048910	Daewon Media	Pair Corr
0.73	017890	Korea Alcohol Industrial	Pair Corr
0.64	018470	Choil Aluminum	Pair Corr
0.65	100840	SNTEnergy	Pair Corr
0.62	128660	PJ Metal	Pair Corr
0.67	123750	Alton Sports CoLtd	Pair Corr
0.75	272290	INNOX Advanced Materials	Pair Corr

Moving against Winix Stock

0.5	032830	Samsung Life	Pair Corr
0.33	179900	UTI Inc	Pair Corr

Related Correlations Analysis

	067160	054780	069080	060250	036830
067160		-0.06	0.33	-0.02	0.06	067160
054780	-0.06		0.55	0.28	0.69	054780
069080	0.33	0.55		-0.22	0.65	069080
060250	-0.02	0.28	-0.22		-0.05	060250
036830	0.06	0.69	0.65	-0.05		036830
	067160	054780	069080	060250	036830

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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

036830	+ 0.69	054780
036830	+ 0.65	069080
069080	+ 0.55	054780
069080	+ 0.33	067160
060250	+ 0.28	054780
036830	+ 0.06	067160

High negative correlations

060250	- 0.22	069080
054780	- 0.06	067160
036830	- 0.05	060250
060250	- 0.02	067160

Risk-Adjusted Indicators

There is a big difference between Winix Stock performing well and Winix 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 Winix'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
067160	2.58	(0.25)	0.00	4.94	0.00	0.00	4.98	(4.86)	38.81
054780	2.22	(0.11)	0.00	0.06	0.00	0.00	6.18	(4.15)	38.09
069080	1.43	(0.21)	0.00	(1.04)	0.00	0.00	2.75	(3.46)	13.65
060250	1.90	0.16	0.12	1.70	1.77	(2.77)	6.62	(3.14)	13.99
036830	2.63	(0.13)	0.00	(0.90)	0.00	0.00	4.95	(6.10)	18.43

Be your own money manager

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