Sungwoo Techron Correlations

045300 Stock

KRW 2,565 50.00 1.91%

The current 90-days correlation between Sungwoo Techron CoLtd and Cube Entertainment is 0.34 (i.e., Weak diversification). The correlation of Sungwoo Techron 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.

Sungwoo Techron Correlation With Market

Good diversification

The correlation between Sungwoo Techron CoLtd and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sungwoo Techron CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sungwoo Stock

0.83	005930	Samsung Electronics	Pair Corr
0.74	005935	Samsung Electronics	Pair Corr
0.87	034730	SK Holdings	Pair Corr
0.85	005490	POSCO Holdings	Pair Corr
0.76	005387	Hyundai Motor	Pair Corr
0.76	005380	Hyundai Motor	Pair Corr
0.77	005385	Hyundai Motor	Pair Corr

Moving against Sungwoo Stock

0.83	122870	YG Entertainment	Pair Corr
0.74	032640	LG Uplus	Pair Corr
0.66	012330	Hyundai Mobis	Pair Corr
0.54	078160	MEDIPOST	Pair Corr
0.43	065660	AnterogenCoLtd	Pair Corr
0.31	241840	ASTORY CoLtd	Pair Corr
0.78	035900	JYP Entertainment	Pair Corr
0.77	041510	SM Entertainment	Pair Corr
0.76	035420	Naver	Pair Corr
0.74	003535	Hanwha InvestmentSecuri	Pair Corr
0.66	071055	Korea Investment Holdings	Pair Corr
0.48	205470	Humasis	Pair Corr
0.47	011390	Busan Industrial	Pair Corr
0.43	153460	Nable Communications	Pair Corr
0.39	230240	Hana Financial 7	Pair Corr
0.36	003920	Namyang Dairy	Pair Corr

Related Correlations Analysis

	182360	060570	373220	014820	000400	111710	329180	023760
182360		-0.47	-0.46	-0.58	-0.4	0.35	0.75	-0.19	182360
060570	-0.47		0.36	0.42	0.55	-0.23	-0.52	0.39	060570
373220	-0.46	0.36		0.5	0.37	-0.12	-0.54	0.17	373220
014820	-0.58	0.42	0.5		0.19	0.0	-0.5	0.23	014820
000400	-0.4	0.55	0.37	0.19		-0.62	-0.74	0.64	000400
111710	0.35	-0.23	-0.12	0.0	-0.62		0.44	-0.66	111710
329180	0.75	-0.52	-0.54	-0.5	-0.74	0.44		-0.26	329180
023760	-0.19	0.39	0.17	0.23	0.64	-0.66	-0.26		023760
	182360	060570	373220	014820	000400	111710	329180	023760

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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

329180	+ 0.75	182360
023760	+ 0.64	000400
000400	+ 0.55	060570
014820	+ 0.5	373220
329180	+ 0.44	111710
014820	+ 0.42	060570

High negative correlations

329180	- 0.74	000400
023760	- 0.66	111710
111710	- 0.62	000400
014820	- 0.58	182360
329180	- 0.54	373220
329180	- 0.52	060570

Risk-Adjusted Indicators

There is a big difference between Sungwoo Stock performing well and Sungwoo Techron 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 Sungwoo Techron'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
182360	2.43	0.12	0.03	0.53	2.88	(3.11)	6.21	(5.37)	14.80
060570	2.89	0.03	0.00	(0.02)	3.35	(3.43)	7.28	(5.85)	39.46
373220	2.22	(0.18)	0.00	0.50	0.00	0.00	4.09	(3.90)	17.72
014820	2.46	0.04	0.00	(0.06)	2.99	(2.50)	5.37	(4.82)	18.79
000400	1.86	(0.36)	0.00	(5.50)	0.00	0.00	3.39	(3.77)	14.28
111710	1.19	0.16	0.08	0.80	1.46	(1.44)	2.84	(2.74)	8.50
329180	2.62	0.59	0.19	0.31	2.46	(2.87)	6.56	(4.60)	20.71
023760	0.55	(0.02)	0.00	0.52	0.00	0.00	1.44	(1.06)	6.01

Be your own money manager

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