WISE ITech Correlations

065370 Stock

KRW 6,220 310.00 4.75%

The current 90-days correlation between WISE iTech and Seoam Machinery Industry is 0.25 (i.e., Modest 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

Good diversification

The correlation between WISE iTech Co 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 WISE iTech Co and DJI in the same portfolio, assuming nothing else is changed.

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

0.72	300080	FLITTO Inc	Pair Corr
0.74	203650	Dream Security co	Pair Corr
0.69	050960	SOOSAN INT	Pair Corr
0.72	053800	AhnLab Inc	Pair Corr
0.66	004590	Hankook Furniture	Pair Corr

Moving against WISE Stock

0.71	055550	Shinhan Financial	Pair Corr
0.61	105560	KB Financial Group	Pair Corr
0.59	060850	Younglimwon Soft Lab	Pair Corr
0.58	066570	LG Electronics	Pair Corr
0.38	005380	Hyundai Motor	Pair Corr

Related Correlations Analysis

	005610	100660	000720	100130	101530	003230	290720
005610		0.17	-0.15	0.8	0.66	0.5	-0.4	005610
100660	0.17		0.54	0.15	0.25	0.13	-0.19	100660
000720	-0.15	0.54		-0.12	0.26	0.5	-0.47	000720
100130	0.8	0.15	-0.12		0.79	0.56	-0.33	100130
101530	0.66	0.25	0.26	0.79		0.77	-0.4	101530
003230	0.5	0.13	0.5	0.56	0.77		-0.71	003230
290720	-0.4	-0.19	-0.47	-0.33	-0.4	-0.71		290720
	005610	100660	000720	100130	101530	003230	290720

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

100130	+ 0.8	005610
101530	+ 0.79	100130
003230	+ 0.77	101530
101530	+ 0.66	005610
003230	+ 0.56	100130
000720	+ 0.54	100660

High negative correlations

290720	- 0.71	003230
290720	- 0.47	000720
290720	- 0.4	101530
290720	- 0.4	005610
290720	- 0.33	100130
290720	- 0.19	100660

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
005610	1.27	0.12	0.07	(0.57)	1.56	(1.49)	2.45	(2.49)	11.47
100660	1.69	0.00	0.00	0.00	2.34	(1.93)	4.11	(3.27)	13.11
000720	1.93	0.29	0.15	1.07	1.68	(2.65)	5.34	(3.18)	11.17
100130	1.78	0.21	0.08	(1.41)	2.45	(1.90)	4.59	(3.31)	14.52
101530	1.33	0.21	0.11	(2.68)	1.54	(1.46)	3.83	(3.06)	9.72
003230	2.42	0.79	0.38	4.00	1.59	(3.16)	6.36	(3.40)	17.34
290720	1.89	(0.17)	0.00	(5.98)	0.00	0.00	4.23	(3.85)	14.77

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?

Run Equity Search Now

Equity Search

Search for actively traded equities including funds and ETFs from over 30 global markets

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC