Next Entertainment Correlations

160550 Stock

KRW 2,000 5.00 0.25%

The current 90-days correlation between Next Entertainment World and Shinil Electronics Co is 0.2 (i.e., Modest diversification). The correlation of Next Entertainment 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.

Next Entertainment Correlation With Market

Good diversification

The correlation between Next Entertainment World and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Next Entertainment World and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Next Stock

0.49	086790	Hana Financial	Pair Corr
0.48	047810	Korea Aerospace Indu	Pair Corr
0.46	098460	Koh Young Technology	Pair Corr
0.44	021240	COWAY	Pair Corr
0.37	016360	Samsung Securities	Pair Corr
0.36	029780	Samsung Card	Pair Corr
0.35	014680	Hansol Chemica	Pair Corr

Related Correlations Analysis

	263810	002700	272450	005430	000890	089590	005300
263810		0.8	-0.11	-0.27	-0.38	-0.33	0.05	263810
002700	0.8		-0.1	-0.28	-0.33	-0.24	0.21	002700
272450	-0.11	-0.1		0.57	0.5	0.65	0.34	272450
005430	-0.27	-0.28	0.57		0.68	0.72	0.51	005430
000890	-0.38	-0.33	0.5	0.68		0.63	0.5	000890
089590	-0.33	-0.24	0.65	0.72	0.63		0.74	089590
005300	0.05	0.21	0.34	0.51	0.5	0.74		005300
	263810	002700	272450	005430	000890	089590	005300

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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

002700	+ 0.8	263810
005300	+ 0.74	089590
089590	+ 0.72	005430
000890	+ 0.68	005430
089590	+ 0.65	272450
089590	+ 0.63	000890

High negative correlations

000890	- 0.38	263810
000890	- 0.33	002700
089590	- 0.33	263810
005430	- 0.28	002700
005430	- 0.27	263810
089590	- 0.24	002700

Risk-Adjusted Indicators

There is a big difference between Next Stock performing well and Next Entertainment 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 Next Entertainment'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
263810	0.79	0.08	0.07	0.70	0.95	(0.92)	1.61	(1.44)	4.90
002700	0.79	0.11	0.11	0.36	0.80	(0.91)	1.97	(1.26)	4.75
272450	1.01	(0.16)	0.00	(0.46)	0.00	0.00	2.64	(2.87)	7.78
005430	1.13	(0.16)	0.00	(0.61)	0.00	0.00	2.03	(3.60)	13.02
000890	1.44	(0.23)	0.00	(0.48)	0.00	0.00	2.54	(3.75)	8.26
089590	1.06	(0.35)	0.00	(7.46)	0.00	0.00	1.81	(3.39)	10.04
005300	1.10	(0.14)	0.00	(1.42)	0.00	0.00	1.87	(2.19)	6.29

Be your own money manager

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