WOOJUNG BIO Correlations

215380 Stock

KRW 1,648 72.00 4.19%

The current 90-days correlation between WOOJUNG BIO and KNOTUS CoLtd is 0.03 (i.e., Significant diversification). The correlation of WOOJUNG BIO 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.

WOOJUNG BIO Correlation With Market

Significant diversification

The correlation between WOOJUNG BIO and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WOOJUNG BIO and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with WOOJUNG Stock

0.79	278650	KNOTUS CoLtd	Pair Corr
0.82	293780	AptaBio Therapeutics	Pair Corr
0.9	225220	Genolution	Pair Corr
0.89	254120	Xavis Co	Pair Corr
0.86	353190	Hurum	Pair Corr
0.92	336570	Daishin Balance No8	Pair Corr
0.66	034830	Korea Real Estate	Pair Corr
0.71	030350	Dragonfly GF Split	Pair Corr

Moving against WOOJUNG Stock

0.86	035420	Naver	Pair Corr
0.86	041510	SM Entertainment	Pair Corr
0.73	032640	LG Uplus	Pair Corr
0.72	078160	MEDIPOST	Pair Corr
0.69	011390	Busan Industrial	Pair Corr
0.43	059100	i Components	Pair Corr
0.89	122870	YG Entertainment	Pair Corr
0.86	035900	JYP Entertainment	Pair Corr
0.75	071055	Korea Investment Holdings	Pair Corr
0.7	003490	Korean Air Lines	Pair Corr
0.66	230240	Hana Financial 7	Pair Corr
0.65	065660	AnterogenCoLtd	Pair Corr
0.61	012330	Hyundai Mobis	Pair Corr
0.61	003535	Hanwha InvestmentSecuri	Pair Corr
0.58	014940	Oriental Precision	Pair Corr
0.58	241840	ASTORY CoLtd	Pair Corr
0.53	005430	Korea Air Svc	Pair Corr
0.53	039240	Gyeongnam Steel	Pair Corr
0.49	153460	Nable Communications	Pair Corr
0.44	205470	Humasis	Pair Corr

Related Correlations Analysis

	278650	288330	293780	217330	225220	215380
278650		0.34	0.58	0.36	0.74	0.79	278650
288330	0.34		0.84	0.48	0.67	0.54	288330
293780	0.58	0.84		0.56	0.89	0.82	293780
217330	0.36	0.48	0.56		0.59	0.54	217330
225220	0.74	0.67	0.89	0.59		0.9	225220
215380	0.79	0.54	0.82	0.54	0.9		215380
	278650	288330	293780	217330	225220	215380

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Risk-Adjusted Indicators

There is a big difference between WOOJUNG Stock performing well and WOOJUNG BIO 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 WOOJUNG BIO'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
278650	1.91	(0.24)	0.00	1.63	0.00	0.00	3.45	(3.67)	22.28
288330	5.78	0.26	0.04	(0.36)	5.84	(7.06)	14.21	(9.94)	41.45
293780	2.76	(0.52)	0.00	1.70	0.00	0.00	5.01	(5.29)	19.84
217330	3.98	(0.12)	0.00	0.17	0.00	0.00	7.93	(9.96)	34.84
225220	1.77	(0.51)	0.00	1.44	0.00	0.00	3.70	(4.48)	9.90
215380	3.17	(0.43)	0.00	(2.27)	0.00	0.00	6.11	(7.19)	39.08

Be your own money manager

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