HMCIB SPAC Correlations

226340 Stock

KRW 1,458 8.00 0.55%

The current 90-days correlation between HMCIB SPAC 3 and SEOWONINTECHCoLtd is 0.05 (i.e., Significant diversification). The correlation of HMCIB SPAC 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.

HMCIB SPAC Correlation With Market

Modest diversification

The correlation between HMCIB SPAC 3 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 HMCIB SPAC 3 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to HMCIB SPAC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HMCIB SPAC 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 HMCIB SPAC - 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 HMCIB SPAC 3 to buy it.

Moving together with HMCIB Stock

0.75	055550	Shinhan Financial	Pair Corr
0.61	005935	Samsung Electronics	Pair Corr
0.65	005387	Hyundai Motor Earnings Call This Week	Pair Corr

Moving against HMCIB Stock

0.9	035900	JYP Entertainment Corp	Pair Corr
0.9	035900	JYP Entertainment	Pair Corr
0.86	078160	MEDIPOST	Pair Corr
0.79	402030	Konan Technology	Pair Corr
0.76	006040	Dongwon Ind	Pair Corr
0.65	083650	BHI Co	Pair Corr
0.62	285490	NOVATECH	Pair Corr
0.52	031860	NSN Co	Pair Corr
0.31	024110	Industrial Bank	Pair Corr

Related Correlations Analysis

	251630	093920	048430	046120	050760	137080	042370	036800
251630		0.64	0.49	0.3	0.13	0.22	0.72	-0.19	251630
093920	0.64		0.34	0.19	0.33	0.25	0.49	0.03	093920
048430	0.49	0.34		-0.51	-0.22	0.72	0.15	-0.42	048430
046120	0.3	0.19	-0.51		0.4	-0.51	0.57	0.22	046120
050760	0.13	0.33	-0.22	0.4		-0.03	-0.01	0.77	050760
137080	0.22	0.25	0.72	-0.51	-0.03		-0.15	-0.07	137080
042370	0.72	0.49	0.15	0.57	-0.01	-0.15		-0.16	042370
036800	-0.19	0.03	-0.42	0.22	0.77	-0.07	-0.16		036800
	251630	093920	048430	046120	050760	137080	042370	036800

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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	+ 0.77	050760
042370	+ 0.72	251630
137080	+ 0.72	048430
093920	+ 0.64	251630
042370	+ 0.57	046120
048430	+ 0.49	251630

High negative correlations

137080	- 0.51	046120
046120	- 0.51	048430
036800	- 0.42	048430
050760	- 0.22	048430
036800	- 0.19	251630
036800	- 0.16	042370

Risk-Adjusted Indicators

There is a big difference between HMCIB Stock performing well and HMCIB SPAC 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 HMCIB SPAC'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
251630	2.58	0.06	0.01	(2.07)	3.07	(2.82)	5.64	(4.84)	17.52
093920	0.59	0.01	(0.02)	(0.02)	0.76	(0.74)	1.23	(1.41)	5.21
048430	1.75	0.32	0.14	(0.76)	1.71	(2.23)	4.06	(3.04)	20.29
046120	2.36	0.11	0.02	0.79	3.41	(2.22)	5.86	(6.00)	17.66
050760	1.47	(0.09)	0.00	(0.30)	0.00	0.00	2.36	(3.67)	9.37
137080	3.09	(0.09)	0.00	(3.74)	0.00	0.00	5.57	(5.41)	20.25
042370	1.97	0.14	0.05	2.56	2.24	(2.31)	4.64	(3.91)	12.62
036800	0.60	(0.10)	0.00	(0.98)	0.00	0.00	1.35	(1.06)	7.73

HMCIB SPAC Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with HMCIB SPAC stock to make a market-neutral strategy. Peer analysis of HMCIB SPAC could also be used in its relative valuation, which is a method of valuing HMCIB SPAC by comparing valuation metrics with similar companies.

V One Tech Co SEOWONINTECHCoLtd Yura Tech Co Orbitech Co Spolytech Co Narae Nanotech Corp Vitzro Tech Co Nice Information Telecommunication American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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