Korea New Correlations

058400 Stock

764.00 6.00 0.78%

The current 90-days correlation between Korea New Network and Bookook Steel is 0.21 (i.e., Modest diversification). The correlation of Korea New 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.

Korea New Correlation With Market

Modest diversification

The correlation between Korea New Network and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Korea New Network and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Korea Stock

0.78	373220	LG Energy Solution	Pair Corr
0.78	051915	LG Chem	Pair Corr
0.61	051910	LG Chemicals	Pair Corr
0.8	006400	Samsung SDI	Pair Corr
0.79	014820	Dongwon System	Pair Corr
0.61	000400	Lotte Non Life	Pair Corr

Moving against Korea Stock

0.77	329180	Hyundai Heavy Industries	Pair Corr
0.49	000660	SK Hynix	Pair Corr
0.48	207940	Samsung Biologics	Pair Corr
0.45	023760	Han Kook Capital	Pair Corr
0.38	060570	Dreamus Company	Pair Corr

Related Correlations Analysis

	026940	017890	139990	007330	007280
026940		0.64	0.19	-0.38	0.61	026940
017890	0.64		0.5	-0.32	0.83	017890
139990	0.19	0.5		-0.07	0.38	139990
007330	-0.38	-0.32	-0.07		-0.34	007330
007280	0.61	0.83	0.38	-0.34		007280
	026940	017890	139990	007330	007280

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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

007280	+ 0.83	017890
017890	+ 0.64	026940
007280	+ 0.61	026940
139990	+ 0.5	017890
007280	+ 0.38	139990
139990	+ 0.19	026940

High negative correlations

007330	- 0.38	026940
007280	- 0.34	007330
007330	- 0.32	017890
007330	- 0.07	139990

Risk-Adjusted Indicators

There is a big difference between Korea Stock performing well and Korea New 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 Korea New'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
026940	1.54	0.18	0.11	0.18	1.50	(2.04)	3.77	(2.97)	9.81
017890	0.69	0.29	0.37	1.39	0.42	(0.85)	2.41	(1.04)	5.10
139990	1.02	0.07	0.09	0.88	1.04	(1.38)	2.79	(1.90)	8.68
007330	0.78	0.07	0.06	0.17	1.31	(0.92)	0.98	(1.06)	19.70
007280	1.34	0.43	0.35	2.46	0.82	(1.67)	4.38	(2.52)	12.43

Be your own money manager

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