Keum Kang Correlations

053260 Stock

KRW 4,105 35.00 0.85%

The current 90-days correlation between Keum Kang Steel and Seoyon Topmetal Co is 0.18 (i.e., Average diversification). The correlation of Keum Kang 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.

Keum Kang Correlation With Market

Significant diversification

The correlation between Keum Kang Steel and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Keum Kang Steel and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Keum Stock

0.74	005490	POSCO Holdings	Pair Corr
0.68	011170	Lotte Chemical Corp	Pair Corr
0.79	004020	Hyundai Steel	Pair Corr
0.76	003030	Seah Steel Corp	Pair Corr

Moving against Keum Stock

0.5	041190	Woori Technology Inv	Pair Corr
0.49	215600	SillaJen	Pair Corr
0.36	217330	Cytogen	Pair Corr

Related Correlations Analysis

	034120	019770	460850	120240	284740	060480	004140
034120		0.28	0.13	0.61	0.15	0.55	0.02	034120
019770	0.28		0.93	0.43	0.76	0.22	0.52	019770
460850	0.13	0.93		0.31	0.76	0.15	0.58	460850
120240	0.61	0.43	0.31		0.26	0.77	0.29	120240
284740	0.15	0.76	0.76	0.26		-0.08	0.61	284740
060480	0.55	0.22	0.15	0.77	-0.08		0.06	060480
004140	0.02	0.52	0.58	0.29	0.61	0.06		004140
	034120	019770	460850	120240	284740	060480	004140

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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

460850	+ 0.93	019770
060480	+ 0.77	120240
284740	+ 0.76	019770
284740	+ 0.76	460850
120240	+ 0.61	034120
004140	+ 0.61	284740

High negative correlations

060480

- 0.08

284740

Risk-Adjusted Indicators

There is a big difference between Keum Stock performing well and Keum Kang 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 Keum Kang'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
034120	3.22	0.50	0.17	(4.02)	3.02	(4.26)	6.03	(5.09)	43.20
019770	1.05	0.29	0.24	0.59	1.02	(1.17)	2.87	(1.67)	7.33
460850	1.04	0.30	0.30	1.29	0.91	(1.29)	2.55	(1.64)	6.95
120240	0.78	0.08	0.13	0.81	0.92	(0.81)	1.72	(1.63)	6.19
284740	1.10	0.18	0.29	(0.47)	0.73	(1.55)	2.66	(1.48)	8.09
060480	0.86	0.10	0.16	(0.95)	0.99	(0.92)	3.01	(2.12)	6.32
004140	1.53	0.17	0.10	0.28	2.04	(1.60)	2.84	(2.65)	14.61

Be your own money manager

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