Wooyang Correlations

103840 Stock

KRW 3,120 100.00 3.11%

The current 90-days correlation between Wooyang and System and Application is 0.44 (i.e., Very weak diversification). The correlation of Wooyang 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.

Wooyang Correlation With Market

Significant diversification

The correlation between Wooyang Co and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wooyang Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Wooyang Stock

0.84	267980	Maeil Dairies	Pair Corr
0.9	088910	Dongwoo Farm To	Pair Corr
0.79	154030	Asia Seed CoLtd	Pair Corr
0.73	336260	Doosan Fuel Cell	Pair Corr
0.71	217270	Daishin Balance 1	Pair Corr
0.75	293780	AptaBio Therapeutics	Pair Corr
0.96	215480	Daewoo SBI SPAC	Pair Corr
0.68	187870	DeviceENGCOLtd	Pair Corr
0.86	050960	SOOSAN INT	Pair Corr
0.94	106240	Finetechnix CoLtd	Pair Corr

Moving against Wooyang Stock

0.84	311390	Neo Cremar	Pair Corr
0.52	900340	Wing Yip Food	Pair Corr

Related Correlations Analysis

	035510	286940	060540	030190	033230	042370	020180
035510		0.36	0.16	0.12	0.13	-0.03	0.6	035510
286940	0.36		0.82	-0.57	0.83	0.12	0.69	286940
060540	0.16	0.82		-0.59	0.88	0.06	0.66	060540
030190	0.12	-0.57	-0.59		-0.71	0.2	-0.36	030190
033230	0.13	0.83	0.88	-0.71		-0.08	0.56	033230
042370	-0.03	0.12	0.06	0.2	-0.08		0.1	042370
020180	0.6	0.69	0.66	-0.36	0.56	0.1		020180
	035510	286940	060540	030190	033230	042370	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

033230	+ 0.88	060540
033230	+ 0.83	286940
060540	+ 0.82	286940
020180	+ 0.69	286940
020180	+ 0.66	060540
020180	+ 0.6	035510

High negative correlations

033230	- 0.71	030190
030190	- 0.59	060540
030190	- 0.57	286940
020180	- 0.36	030190
042370	- 0.08	033230
042370	- 0.03	035510

Risk-Adjusted Indicators

There is a big difference between Wooyang Stock performing well and Wooyang 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 Wooyang'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
035510	1.22	(0.11)	0.00	(1.16)	0.00	0.00	2.71	(2.49)	9.39
286940	2.11	(0.39)	0.00	0.74	0.00	0.00	4.04	(5.96)	23.89
060540	1.46	(0.34)	0.00	(1.45)	0.00	0.00	3.96	(3.25)	10.45
030190	1.36	0.32	0.07	(0.50)	1.47	(1.49)	3.51	(2.47)	8.79
033230	2.44	(0.28)	0.00	22.06	0.00	0.00	5.00	(5.37)	26.13
042370	1.66	(0.17)	0.00	(0.12)	0.00	0.00	3.25	(2.62)	8.85
020180	0.87	(0.11)	0.00	(0.81)	0.00	0.00	1.70	(1.89)	5.57

Be your own money manager

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