Ajusteel Correlations

139990 Stock

4,350 10.00 0.23%

The current 90-days correlation between Ajusteel and Nice Information Telecommunication is 0.25 (i.e., Modest diversification). The correlation of Ajusteel 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.

Ajusteel Correlation With Market

Modest diversification

The correlation between Ajusteel Co and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ajusteel Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ajusteel Stock

0.8	002690	Dong Il Steel	Pair Corr
0.63	007280	Korea Steel	Pair Corr
0.7	026940	Bookook Steel	Pair Corr
0.9	254120	Xavis	Pair Corr
0.87	353190	Hurum	Pair Corr
0.65	336570	Daishin Balance No8	Pair Corr

Moving against Ajusteel Stock

0.45

133820

Finebesteel

Pair Corr

Related Correlations Analysis

	004140	089590	036800	073490	033830	100030	293490	068290
004140		-0.11	0.75	-0.23	-0.68	0.74	0.53	0.54	004140
089590	-0.11		0.07	0.58	0.11	0.05	0.47	-0.03	089590
036800	0.75	0.07		-0.05	-0.37	0.59	0.66	0.57	036800
073490	-0.23	0.58	-0.05		0.26	-0.05	0.27	0.04	073490
033830	-0.68	0.11	-0.37	0.26		-0.28	0.01	-0.12	033830
100030	0.74	0.05	0.59	-0.05	-0.28		0.6	0.68	100030
293490	0.53	0.47	0.66	0.27	0.01	0.6		0.47	293490
068290	0.54	-0.03	0.57	0.04	-0.12	0.68	0.47		068290
	004140	089590	036800	073490	033830	100030	293490	068290

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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

036800	+ 0.75	004140
100030	+ 0.74	004140
068290	+ 0.68	100030
293490	+ 0.66	036800
293490	+ 0.6	100030
100030	+ 0.59	036800

High negative correlations

033830	- 0.68	004140
033830	- 0.37	036800
100030	- 0.28	033830
073490	- 0.23	004140
068290	- 0.12	033830
089590	- 0.11	004140

Risk-Adjusted Indicators

There is a big difference between Ajusteel Stock performing well and Ajusteel 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 Ajusteel'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
004140	1.69	(0.30)	0.00	(1.17)	0.00	0.00	3.26	(4.33)	9.96
089590	1.35	0.02	(0.04)	0.19	1.51	(1.55)	3.33	(2.49)	9.12
036800	0.41	(0.12)	0.00	(1.19)	0.00	0.00	0.80	(0.87)	2.94
073490	1.76	0.02	(0.04)	0.29	1.90	(2.06)	4.04	(2.95)	11.01
033830	1.12	0.13	0.01	(1.43)	1.10	(1.46)	2.96	(2.10)	8.34
100030	1.53	0.01	0.00	0.11	0.00	0.00	3.13	(3.75)	14.57
293490	2.04	0.07	(0.01)	0.61	2.25	(2.26)	4.06	(3.67)	12.61
068290	2.03	(0.11)	0.00	(0.51)	0.00	0.00	3.35	(4.88)	26.33

Be your own money manager

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