Histeel Correlations

071090 Stock

4,465 145.00 3.15%

The current 90-days correlation between Histeel and HB Technology TD is 0.19 (i.e., Average diversification). The correlation of Histeel 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.

Histeel Correlation With Market

Modest diversification

The correlation between Histeel and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Histeel and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Histeel Stock

0.81	005490	POSCO Holdings	Pair Corr
0.74	011170	Lotte Chemical Corp	Pair Corr
0.88	004020	Hyundai Steel	Pair Corr
0.86	003030	Seah Steel Corp	Pair Corr

Moving against Histeel Stock

0.57	105560	KB Financial Group	Pair Corr
0.46	066570	LG Electronics	Pair Corr
0.37	005387	Hyundai Motor	Pair Corr
0.33	086520	Ecopro Split	Pair Corr
0.32	005380	Hyundai Motor	Pair Corr

Related Correlations Analysis

	078150	015260	036170	032560	084370	005430	019540	020180
078150		-0.67	0.14	0.6	0.75	-0.5	0.82	0.29	078150
015260	-0.67		-0.36	-0.72	-0.76	0.78	-0.79	-0.29	015260
036170	0.14	-0.36		0.63	0.39	-0.09	0.27	0.58	036170
032560	0.6	-0.72	0.63		0.73	-0.44	0.66	0.43	032560
084370	0.75	-0.76	0.39	0.73		-0.65	0.82	0.45	084370
005430	-0.5	0.78	-0.09	-0.44	-0.65		-0.62	0.0	005430
019540	0.82	-0.79	0.27	0.66	0.82	-0.62		0.43	019540
020180	0.29	-0.29	0.58	0.43	0.45	0.0	0.43		020180
	078150	015260	036170	032560	084370	005430	019540	020180

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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

019540	+ 0.82	078150
019540	+ 0.82	084370
005430	+ 0.78	015260
084370	+ 0.75	078150
084370	+ 0.73	032560
019540	+ 0.66	032560

High negative correlations

019540	- 0.79	015260
084370	- 0.76	015260
032560	- 0.72	015260
015260	- 0.67	078150
005430	- 0.65	084370
019540	- 0.62	005430

Risk-Adjusted Indicators

There is a big difference between Histeel Stock performing well and Histeel 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 Histeel'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
078150	2.83	0.60	0.19	6.73	2.98	(3.32)	9.44	(4.69)	20.90
015260	1.45	(0.36)	0.00	20.32	0.00	0.00	2.75	(4.52)	11.51
036170	1.41	0.33	0.23	2.13	1.35	(1.65)	4.23	(2.83)	10.12
032560	0.79	0.10	0.16	(0.38)	0.99	(0.94)	2.24	(1.13)	5.31
084370	2.38	0.40	0.12	0.41	2.94	(2.40)	5.30	(5.96)	16.56
005430	1.32	(0.07)	0.00	(0.57)	0.00	0.00	2.88	(3.98)	13.02
019540	1.62	0.13	0.06	10.17	2.76	(1.41)	2.53	(4.55)	13.02
020180	2.72	0.36	0.11	1.25	3.20	(2.89)	7.58	(4.94)	32.57

Be your own money manager

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