Woorim Machinery Correlations

101170 Stock

KRW 5,700 340.00 6.34%

The current 90-days correlation between Woorim Machinery and Pureun Mutual Savings is 0.3 (i.e., Weak diversification). The correlation of Woorim Machinery 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.

Woorim Machinery Correlation With Market

Significant diversification

The correlation between Woorim Machinery Co and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Woorim Machinery Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Woorim Stock

0.87	005935	Samsung Electronics	Pair Corr
0.88	005930	Samsung Electronics	Pair Corr

Moving against Woorim Stock

0.45	105560	KB Financial Group	Pair Corr
0.35	032830	Samsung Life	Pair Corr
0.33	024110	Industrial Bank	Pair Corr

Related Correlations Analysis

	007330	104480	001290	112290	006570	014530	003080	003670
007330		0.62	0.25	0.47	-0.25	0.47	-0.03	0.39	007330
104480	0.62		0.81	0.76	-0.06	0.73	0.64	0.69	104480
001290	0.25	0.81		0.71	0.23	0.76	0.82	0.68	001290
112290	0.47	0.76	0.71		0.08	0.77	0.6	0.81	112290
006570	-0.25	-0.06	0.23	0.08		0.29	0.38	0.23	006570
014530	0.47	0.73	0.76	0.77	0.29		0.66	0.76	014530
003080	-0.03	0.64	0.82	0.6	0.38	0.66		0.66	003080
003670	0.39	0.69	0.68	0.81	0.23	0.76	0.66		003670
	007330	104480	001290	112290	006570	014530	003080	003670

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

003080	+ 0.82	001290
001290	+ 0.81	104480
003670	+ 0.81	112290
014530	+ 0.77	112290
112290	+ 0.76	104480
014530	+ 0.76	001290

High negative correlations

006570	- 0.25	007330
006570	- 0.06	104480
003080	- 0.03	007330

Risk-Adjusted Indicators

There is a big difference between Woorim Stock performing well and Woorim Machinery 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 Woorim Machinery'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
007330	0.44	0.04	(0.13)	(0.41)	0.55	(0.50)	1.26	(1.04)	3.63
104480	1.13	(0.07)	0.00	0.56	0.00	0.00	2.38	(2.41)	6.96
001290	0.97	(0.17)	0.00	(2.01)	0.00	0.00	2.00	(2.32)	8.73
112290	3.29	(0.10)	0.00	0.26	0.00	0.00	6.64	(5.37)	28.07
006570	1.76	0.01	0.00	0.06	0.00	0.00	3.80	(3.57)	10.73
014530	0.66	(0.09)	0.00	(0.81)	0.00	0.00	1.19	(1.99)	8.21
003080	0.54	(0.13)	0.00	(1.60)	0.00	0.00	0.76	(1.12)	5.02
003670	2.97	(0.17)	0.00	(0.46)	0.00	0.00	7.05	(6.09)	24.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in Woorim Machinery 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 Portfolio Volatility Now

Portfolio Volatility

Check portfolio volatility and analyze historical return density to properly model market risk

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