WISE ITech Correlations
| 065370 Stock | KRW 7,050 300.00 4.08% |
The current 90-days correlation between WISE iTech and Seoyon Topmetal Co is 0.18 (i.e., Average diversification). The correlation of WISE ITech 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.
WISE ITech Correlation With Market
Very good diversification
The correlation between WISE iTech Co and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WISE iTech Co and DJI in the same portfolio, assuming nothing else is changed.
WISE |
The ability to find closely correlated positions to WISE ITech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WISE ITech 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 WISE ITech - 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 WISE iTech Co to buy it.
Moving together with WISE Stock
| 0.62 | 029780 | Samsung Card | PairCorr |
| 0.73 | 014680 | Hansol Chemica | PairCorr |
| 0.61 | 086790 | Hana Financial | PairCorr |
| 0.8 | 047810 | Korea Aerospace Indu | PairCorr |
Moving against WISE Stock
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between WISE Stock performing well and WISE ITech 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 WISE ITech'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 002320 | 0.49 | 0.13 | 0.32 | (1.25) | 0.40 | 1.26 | 3.56 | |||
| 034810 | 1.11 | 0.36 | 0.30 | 0.74 | 0.85 | 3.58 | 8.66 | |||
| 000390 | 1.06 | 0.11 | 0.10 | 0.28 | 1.37 | 1.83 | 6.18 | |||
| 032560 | 0.68 | 0.18 | 0.32 | 3.34 | 0.45 | 1.95 | 4.82 | |||
| 004140 | 1.53 | 0.17 | 0.10 | 0.28 | 2.04 | 2.84 | 14.61 | |||
| 019770 | 1.05 | 0.29 | 0.24 | 0.59 | 1.02 | 2.87 | 7.33 | |||
| 026940 | 1.59 | 0.24 | 0.16 | 0.25 | 1.48 | 4.44 | 9.81 | |||
| 005010 | 2.57 | 0.77 | 0.29 | (4.11) | 2.20 | 7.84 | 21.81 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in WISE ITech 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.Did you try this?
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