GemVaxKAEL CoLtd Correlations

082270 Stock

KRW 39,700 300.00 0.75%

The current 90-days correlation between GemVaxKAEL CoLtd and AurosTechnology is -0.04 (i.e., Good diversification). The correlation of GemVaxKAEL CoLtd 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.

GemVaxKAEL CoLtd Correlation With Market

Average diversification

The correlation between GemVaxKAEL CoLtd and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GemVaxKAEL CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with GemVaxKAEL Stock

0.62	293780	AptaBio Therapeutics	Pair Corr
0.64	036030	KT Hitel	Pair Corr
0.84	029780	Samsung Card	Pair Corr
0.79	298380	ABL Bio	Pair Corr

Moving against GemVaxKAEL Stock

0.83	041190	Woori Technology Inv	Pair Corr
0.62	215600	SillaJen	Pair Corr
0.62	217330	Cytogen	Pair Corr

Related Correlations Analysis

	322310	006910	109860	009190	004105	032560	120240	500007
322310		0.76	0.71	-0.8	0.49	0.78	0.52	-0.69	322310
006910	0.76		0.8	-0.52	0.46	0.47	0.49	-0.44	006910
109860	0.71	0.8		-0.46	0.48	0.53	0.59	-0.26	109860
009190	-0.8	-0.52	-0.46		-0.46	-0.79	-0.33	0.71	009190
004105	0.49	0.46	0.48	-0.46		0.21	0.12	-0.53	004105
032560	0.78	0.47	0.53	-0.79	0.21		0.55	-0.51	032560
120240	0.52	0.49	0.59	-0.33	0.12	0.55		0.06	120240
500007	-0.69	-0.44	-0.26	0.71	-0.53	-0.51	0.06		500007
	322310	006910	109860	009190	004105	032560	120240	500007

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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

109860	+ 0.8	006910
032560	+ 0.78	322310
006910	+ 0.76	322310
109860	+ 0.71	322310
500007	+ 0.71	009190
120240	+ 0.59	109860

High negative correlations

009190	- 0.8	322310
032560	- 0.79	009190
500007	- 0.69	322310
500007	- 0.53	004105
009190	- 0.52	006910
500007	- 0.51	032560

Risk-Adjusted Indicators

There is a big difference between GemVaxKAEL Stock performing well and GemVaxKAEL CoLtd 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 GemVaxKAEL CoLtd'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
322310	3.60	0.83	0.22	0.64	3.32	(4.33)	7.62	(4.98)	26.15
006910	1.57	0.25	0.16	0.28	1.48	(2.00)	3.94	(2.93)	9.75
109860	1.43	0.17	0.11	0.39	1.67	(1.72)	4.25	(2.42)	13.30
009190	1.36	(0.16)	0.00	(0.87)	0.00	0.00	2.99	(3.28)	12.76
004105	2.82	(0.30)	0.00	(2.58)	0.00	0.00	4.68	(4.80)	27.69
032560	0.68	0.18	0.32	3.34	0.45	(0.87)	1.95	(0.97)	4.82
120240	0.78	0.08	0.13	0.81	0.92	(0.81)	1.72	(1.63)	6.19
500007	1.28	(0.04)	0.00	(0.60)	0.00	0.00	3.27	(2.53)	9.46

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