Hyunwoo Industrial Correlations

092300 Stock

KRW 2,920 10.00 0.34%

The current 90-days correlation between Hyunwoo Industrial and SCI Information Service is -0.07 (i.e., Good diversification). The correlation of Hyunwoo Industrial 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.

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

Moving together with Hyunwoo Stock

0.77	064760	Tokai Carbon Korea	Pair Corr
0.82	166090	Hana Materials	Pair Corr
0.79	222800	SIMMTECH	Pair Corr
0.69	195870	Haesung DS	Pair Corr
0.74	082270	GemVaxKAEL CoLtd	Pair Corr
0.78	101490	SS TECH	Pair Corr
0.63	005930	Samsung Electronics	Pair Corr
0.63	005935	Samsung Electronics	Pair Corr
0.7	005490	POSCO Holdings	Pair Corr
0.79	030200	KT Corporation	Pair Corr

Related Correlations Analysis

	036120	109860	036800	198940	010240	007530	115480
036120		0.23	0.05	0.47	0.03	0.23	0.65	036120
109860	0.23		-0.61	-0.03	0.12	-0.32	-0.14	109860
036800	0.05	-0.61		0.31	-0.16	0.64	0.55	036800
198940	0.47	-0.03	0.31		-0.56	0.18	0.69	198940
010240	0.03	0.12	-0.16	-0.56		-0.03	-0.23	010240
007530	0.23	-0.32	0.64	0.18	-0.03		0.57	007530
115480	0.65	-0.14	0.55	0.69	-0.23	0.57		115480
	036120	109860	036800	198940	010240	007530	115480

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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

115480	+ 0.69	198940
115480	+ 0.65	036120
007530	+ 0.64	036800
115480	+ 0.57	007530
115480	+ 0.55	036800
198940	+ 0.47	036120

High negative correlations

036800	- 0.61	109860
010240	- 0.56	198940
007530	- 0.32	109860
115480	- 0.23	010240
010240	- 0.16	036800
115480	- 0.14	109860

Risk-Adjusted Indicators

There is a big difference between Hyunwoo Stock performing well and Hyunwoo Industrial 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 Hyunwoo Industrial'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
036120	1.17	0.01	0.00	(0.07)	1.35	(1.44)	2.64	(2.46)	10.64
109860	1.41	0.08	0.04	0.17	1.75	(1.69)	4.25	(2.42)	13.30
036800	0.69	(0.08)	0.00	(18.21)	0.00	0.00	1.64	(1.43)	5.35
198940	1.33	(0.12)	0.00	(0.20)	0.00	0.00	3.60	(2.58)	9.57
010240	1.25	0.00	0.00	0.03	1.82	(1.22)	2.48	(2.90)	10.19
007530	1.89	0.10	0.04	1.96	2.36	(2.27)	5.71	(4.69)	20.15
115480	0.91	(0.08)	0.00	(0.42)	0.00	0.00	2.48	(3.16)	8.96

Be your own money manager

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