Hironic Co Correlations

149980 Stock

KRW 6,800 20.00 0.29%

The current 90-days correlation between Hironic Co and TJ media Co is 0.24 (i.e., Modest diversification). The correlation of Hironic Co 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.

Hironic Co Correlation With Market

Good diversification

The correlation between Hironic Co and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hironic Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hironic Stock

0.81	005930	Samsung Electronics	Pair Corr
0.82	005935	Samsung Electronics	Pair Corr
0.71	005380	Hyundai Motor	Pair Corr
0.67	005387	Hyundai Motor	Pair Corr

Moving against Hironic Stock

0.46	024110	Industrial Bank	Pair Corr
0.38	032830	Samsung Life	Pair Corr

Related Correlations Analysis

	032540	049720	060540	276040	263800	036120	288980
032540		-0.06	0.47	0.83	0.0	0.82	0.41	032540
049720	-0.06		0.52	0.16	0.0	0.23	-0.48	049720
060540	0.47	0.52		0.54	0.14	0.56	-0.05	060540
276040	0.83	0.16	0.54		0.34	0.7	0.37	276040
263800	0.0	0.0	0.14	0.34		-0.23	0.41	263800
036120	0.82	0.23	0.56	0.7	-0.23		0.15	036120
288980	0.41	-0.48	-0.05	0.37	0.41	0.15		288980
	032540	049720	060540	276040	263800	036120	288980

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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

276040	+ 0.83	032540
036120	+ 0.82	032540
036120	+ 0.7	276040
036120	+ 0.56	060540
276040	+ 0.54	060540
060540	+ 0.52	049720

High negative correlations

288980	- 0.48	049720
036120	- 0.23	263800
049720	- 0.06	032540
288980	- 0.05	060540
263800	- 0.0	049720
263800	- 0.0	032540

Risk-Adjusted Indicators

There is a big difference between Hironic Stock performing well and Hironic Co 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 Hironic Co'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
032540	0.87	(0.05)	0.00	6.85	0.00	0.00	2.75	(2.04)	5.91
049720	0.62	0.01	(0.02)	(0.02)	0.70	(0.84)	1.96	(1.35)	4.10
060540	2.17	0.13	0.05	0.46	2.18	(3.01)	7.91	(4.23)	21.97
276040	2.67	0.20	0.05	(0.38)	3.06	(2.87)	8.17	(4.77)	21.90
263800	2.94	0.31	0.09	0.46	2.92	(3.55)	6.10	(4.35)	30.75
036120	1.59	(0.35)	0.00	1.04	0.00	0.00	2.78	(3.76)	10.11
288980	2.66	0.05	0.01	0.10	3.53	(2.81)	6.13	(4.69)	24.82

Be your own money manager

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