Ray Co Correlations

228670 Stock

KRW 8,620 180.00 2.13%

The current 90-days correlation between Ray Co and ECSTELECOM Co is 0.3 (i.e., Weak diversification). The correlation of Ray 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.

Ray Co Correlation With Market

Modest diversification

The correlation between Ray Co and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ray Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Ray 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 Ray 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 Ray 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 Ray Co to buy it.

Moving together with Ray Stock

0.74	131030	DHP Korea	Pair Corr
0.73	226400	Osteonic	Pair Corr
0.89	230240	Hana Financial 7	Pair Corr
0.75	222800	SIMMTECH	Pair Corr
0.77	104830	WONIK Materials CoLtd	Pair Corr
0.71	026940	Bookook Steel	Pair Corr
0.76	003920	Namyang Dairy	Pair Corr
0.88	052690	KEPCO Engineering	Pair Corr
0.74	200130	Mirae Asset No2	Pair Corr
0.78	004560	Hyundai BNG Steel	Pair Corr
0.77	019770	Seoyon Topmetal	Pair Corr
0.79	083450	Global Standard Tech	Pair Corr
0.87	064760	Tokai Carbon Korea	Pair Corr
0.75	040910	ICD Co	Pair Corr
0.68	217270	Daishin Balance 1	Pair Corr
0.69	018120	Jinro Distillers	Pair Corr
0.8	038110	Ecoplastic	Pair Corr
0.78	122870	YG Entertainment	Pair Corr
0.76	265560	Young Hwa Tech	Pair Corr
0.76	029780	Samsung Card	Pair Corr
0.78	195870	Haesung DS	Pair Corr
0.64	353810	Easy Bio	Pair Corr
0.92	196170	ALTEOGEN	Pair Corr
0.73	166090	Hana Materials	Pair Corr
0.82	057050	Hyundai Home Shopping	Pair Corr

Moving against Ray Stock

0.72	246710	TR Biofab	Pair Corr
0.43	205470	Humasis	Pair Corr

Related Correlations Analysis

	293490	017670	282330	051910	153460	134380	067010	286940
293490		0.25	-0.11	0.65	-0.08	-0.02	-0.05	-0.13	293490
017670	0.25		0.27	0.36	0.55	-0.18	-0.03	0.1	017670
282330	-0.11	0.27		0.11	0.3	0.31	0.27	0.21	282330
051910	0.65	0.36	0.11		0.0	0.31	0.13	-0.02	051910
153460	-0.08	0.55	0.3	0.0		-0.27	-0.07	0.05	153460
134380	-0.02	-0.18	0.31	0.31	-0.27		0.37	0.31	134380
067010	-0.05	-0.03	0.27	0.13	-0.07	0.37		0.57	067010
286940	-0.13	0.1	0.21	-0.02	0.05	0.31	0.57		286940
	293490	017670	282330	051910	153460	134380	067010	286940

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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

051910	+ 0.65	293490
286940	+ 0.57	067010
153460	+ 0.55	017670
067010	+ 0.37	134380
051910	+ 0.36	017670
134380	+ 0.31	282330

High negative correlations

134380	- 0.27	153460
134380	- 0.18	017670
286940	- 0.13	293490
282330	- 0.11	293490
153460	- 0.08	293490
067010	- 0.07	153460

Risk-Adjusted Indicators

There is a big difference between Ray Stock performing well and Ray 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 Ray 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
293490	1.90	(0.22)	0.00	1.03	0.00	0.00	2.15	(4.14)	25.94
017670	0.84	(0.06)	0.00	0.20	0.00	0.00	1.63	(1.75)	4.56
282330	1.07	0.13	0.15	2.70	1.24	(1.14)	2.20	(2.66)	8.52
051910	2.27	(0.13)	0.00	(0.40)	0.00	0.00	4.54	(4.75)	15.30
153460	1.38	0.15	0.10	0.11	1.47	(1.92)	3.38	(2.56)	8.57
134380	0.72	0.03	0.13	(0.29)	0.85	(0.84)	1.72	(1.26)	5.09
067010	1.41	0.06	0.06	0.02	1.64	(1.52)	2.82	(2.36)	7.87
286940	1.54	0.07	0.05	0.05	2.02	(1.62)	3.83	(3.37)	8.85

Be your own money manager

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