PH Tech Correlations

Stocks . Korea . 
Stock . PH Tech Co
239890 Stock   7,850  170.00  2.21%   
The current 90-days correlation between PH Tech and Wave Electronics Co is 0.32 (i.e., Weak diversification). The correlation of PH Tech 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.

PH Tech Correlation With Market

Significant diversification

The correlation between PH Tech Co and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PH Tech Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to PH Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PH Tech 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 PH Tech - 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 PH Tech Co to buy it.

Moving together with 239890 Stock

  0.67000270 Kia CorpPairCorr

Moving against 239890 Stock

  0.39051915 LG ChemPairCorr
  0.38034220 LG DisplayPairCorr
  0.37005490 POSCO HoldingsPairCorr
  0.35357550 Sukgyung ATPairCorr

Related Correlations Analysis

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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   
095270
+ 0.61
35320K
027040
+ 0.54
35320K
095270
+ 0.53
033240
095270
+ 0.47
027040
033240
+ 0.35
35320K
003690
+ 0.22
35320K
  
High negative correlations   
033240
- 0.19
032830
027040
- 0.05
032830
003690
- 0.05
032830
35320K
- 0.05
032830

Risk-Adjusted Indicators

There is a big difference between 239890 Stock performing well and PH Tech 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 PH Tech'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.

Be your own money manager

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