Celltrion Pharm Correlations

Stocks . Korea . 
Stock . Celltrion Pharm
068760 Stock  KRW 56,100  2,757  4.68%   
The current 90-days correlation between Celltrion Pharm and Medy Tox is 0.46 (i.e., Very weak diversification). The correlation of Celltrion Pharm 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.

Celltrion Pharm Correlation With Market

Good diversification

The correlation between Celltrion Pharm 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 Celltrion Pharm and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Celltrion Pharm could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Celltrion Pharm 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 Celltrion Pharm - 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 Celltrion Pharm to buy it.

Moving together with Celltrion Stock

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Moving against Celltrion Stock

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  0.66032640 LG UplusPairCorr
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  0.46011390 Busan IndustrialPairCorr
  0.35003920 Namyang DairyPairCorr
  0.32065660 AnterogenCoLtdPairCorr
  0.7003490 Korean Air LinesPairCorr
  0.69071055 Korea Investment HoldingsPairCorr
  0.69035900 JYP EntertainmentPairCorr
  0.69035420 NaverPairCorr
  0.53014940 Oriental PrecisionPairCorr
  0.48205470 HumasisPairCorr
  0.48078160 MEDIPOSTPairCorr
  0.43153460 Nable CommunicationsPairCorr

Related Correlations Analysis

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Be your own money manager

Our tools can tell you how much better you can do entering a position in Celltrion Pharm 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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