Daewon Media Correlations

048910 Stock

KRW 10,940 480.00 4.59%

The current 90-days correlation between Daewon Media and iNtRON Biotechnology is 0.28 (i.e., Modest diversification). The correlation of Daewon Media 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.

Daewon Media Correlation With Market

Very good diversification

The correlation between Daewon Media Co and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Daewon Media Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Daewon Stock

0.61	029780	Samsung Card	Pair Corr
0.63	098460	Koh Young Technology	Pair Corr
0.79	014680	Hansol Chemica	Pair Corr
0.82	021240	COWAY	Pair Corr
0.75	086790	Hana Financial	Pair Corr
0.75	047810	Korea Aerospace Indu	Pair Corr

Moving against Daewon Stock

0.48	105560	KB Financial Group	Pair Corr
0.35	078020	EBEST Investment Sec	Pair Corr
0.35	003530	Hanwha InvestmentSecuri	Pair Corr

Related Correlations Analysis

	048530	005945	142280	071055	002810	100700	289080
048530		-0.78	0.01	-0.81	-0.87	0.22	-0.32	048530
005945	-0.78		-0.09	0.93	0.69	-0.11	0.45	005945
142280	0.01	-0.09		0.01	0.24	0.73	0.18	142280
071055	-0.81	0.93	0.01		0.71	-0.02	0.47	071055
002810	-0.87	0.69	0.24	0.71		0.03	0.33	002810
100700	0.22	-0.11	0.73	-0.02	0.03		0.31	100700
289080	-0.32	0.45	0.18	0.47	0.33	0.31		289080
	048530	005945	142280	071055	002810	100700	289080

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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

071055	+ 0.93	005945
100700	+ 0.73	142280
002810	+ 0.71	071055
002810	+ 0.69	005945
289080	+ 0.47	071055
289080	+ 0.45	005945

High negative correlations

002810	- 0.87	048530
071055	- 0.81	048530
005945	- 0.78	048530
289080	- 0.32	048530
100700	- 0.11	005945
142280	- 0.09	005945

Risk-Adjusted Indicators

There is a big difference between Daewon Stock performing well and Daewon Media 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 Daewon Media'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
048530	1.92	(0.26)	0.00	0.90	0.00	0.00	5.22	(3.97)	23.52
005945	0.54	0.13	0.30	(1.47)	0.44	(0.62)	1.61	(0.88)	3.37
142280	2.08	0.30	0.14	0.90	2.17	(2.42)	5.81	(3.58)	20.03
071055	1.10	0.18	0.15	2.58	1.30	(1.15)	2.33	(2.20)	6.49
002810	0.51	0.15	0.32	(3.66)	0.34	(0.58)	1.53	(0.96)	3.42
100700	0.77	0.06	0.12	0.56	0.88	(0.95)	1.86	(1.82)	5.20
289080	1.48	0.15	0.12	0.23	1.38	(1.86)	3.23	(2.60)	10.89

Be your own money manager

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