Formetal Correlations

119500 Stock

KRW 3,180 20.00 0.62%

The current 90-days correlation between Formetal and SBI Investment KOREA is 0.41 (i.e., Very weak diversification). The correlation of Formetal 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.

Formetal Correlation With Market

Significant diversification

The correlation between Formetal Co and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Formetal Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Formetal Stock

0.68	277810	Rainbow Robotics	Pair Corr
0.71	282880	COWINTECH Split	Pair Corr
0.84	297090	CS BEARING CoLtd	Pair Corr
0.63	317850	DAEMO Engineering	Pair Corr
0.72	317830	SP Systems CoLtd	Pair Corr

Moving against Formetal Stock

0.41	005380	Hyundai Motor	Pair Corr
0.35	036560	Young Poong Precision	Pair Corr

Related Correlations Analysis

	019550	021080	016610	046890	026890	020180	042700
019550		0.61	-0.68	0.63	0.67	-0.03	0.12	019550
021080	0.61		-0.13	0.31	0.45	0.11	-0.02	021080
016610	-0.68	-0.13		-0.6	-0.55	0.51	-0.08	016610
046890	0.63	0.31	-0.6		0.8	-0.32	0.58	046890
026890	0.67	0.45	-0.55	0.8		-0.21	0.22	026890
020180	-0.03	0.11	0.51	-0.32	-0.21		-0.07	020180
042700	0.12	-0.02	-0.08	0.58	0.22	-0.07		042700
	019550	021080	016610	046890	026890	020180	042700

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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

026890	+ 0.8	046890
026890	+ 0.67	019550
046890	+ 0.63	019550
021080	+ 0.61	019550
042700	+ 0.58	046890
020180	+ 0.51	016610

High negative correlations

016610	- 0.68	019550
046890	- 0.6	016610
026890	- 0.55	016610
020180	- 0.32	046890
020180	- 0.21	026890
016610	- 0.13	021080

Risk-Adjusted Indicators

There is a big difference between Formetal Stock performing well and Formetal 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 Formetal'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
019550	1.17	(0.12)	0.00	(0.59)	0.00	0.00	2.42	(2.93)	11.27
021080	1.36	0.06	0.05	0.06	1.71	(1.83)	3.01	(3.02)	21.40
016610	0.77	0.17	0.23	(0.64)	0.81	(1.02)	2.22	(1.10)	7.30
046890	1.20	(0.06)	0.00	(0.29)	0.00	0.00	2.13	(2.67)	7.75
026890	1.48	(0.06)	0.00	(0.22)	0.00	0.00	3.35	(2.93)	9.00
020180	2.58	0.19	0.07	0.58	3.23	(2.76)	6.70	(4.94)	32.57
042700	3.10	0.47	0.16	3.99	2.88	(3.60)	8.74	(6.04)	20.81

Be your own money manager

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