OLIPASS Correlations

244460 Stock

KRW 2,790 410.00 17.23%

The current 90-days correlation between OLIPASS and Korean Drug Co is 0.05 (i.e., Significant diversification). The correlation of OLIPASS 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.

OLIPASS Correlation With Market

Average diversification

The correlation between OLIPASS and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OLIPASS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with OLIPASS Stock

0.65	302440	SK Bioscience	Pair Corr
0.82	235980	MedPacto	Pair Corr
0.62	334970	Prestige Biologics	Pair Corr

Moving against OLIPASS Stock

0.92	052690	KEPCO Engineering	Pair Corr
0.85	298380	ABL Bio	Pair Corr
0.82	024110	Industrial Bank	Pair Corr
0.8	034830	Korea Real Estate	Pair Corr
0.78	207940	Samsung Biologics	Pair Corr
0.61	053080	Wonbang Tech	Pair Corr
0.59	262840	IQuest Co	Pair Corr
0.57	086890	ISU Abxis	Pair Corr
0.55	326030	Sk Biopharmaceuticals	Pair Corr
0.51	226950	OliX PharmaceuticalsInc	Pair Corr
0.48	034950	Korea Ratings	Pair Corr
0.88	353810	Easy Bio	Pair Corr
0.86	064820	Cape Industries	Pair Corr
0.85	048910	Daewon Media	Pair Corr
0.85	009680	Motonic	Pair Corr
0.83	083450	Global Standard Tech	Pair Corr
0.82	251630	V One Tech	Pair Corr
0.82	265520	Advanced Process Systems	Pair Corr
0.81	000150	Doosan	Pair Corr
0.76	094170	Dongwoon Anatech Split	Pair Corr
0.75	122870	YG Entertainment	Pair Corr
0.74	068050	Pan Entertainment	Pair Corr
0.68	036930	JUSUNG ENGINEERING	Pair Corr
0.65	104830	WONIK Materials CoLtd	Pair Corr
0.59	099410	Dongbang Ship Machinery	Pair Corr
0.37	048470	Daedong Steel	Pair Corr
0.88	272290	INNOX Advanced Materials	Pair Corr
0.87	100840	SNTEnergy	Pair Corr
0.85	050760	Spolytech	Pair Corr
0.83	019770	Seoyon Topmetal	Pair Corr
0.82	018470	Choil Aluminum	Pair Corr
0.81	128660	PJ Metal	Pair Corr
0.79	008060	Daeduck Electronics	Pair Corr
0.75	122870	YG Entertainment	Pair Corr

Related Correlations Analysis

	014570	016380	277070	023790	058730	001290	026940
014570		0.43	0.67	0.47	0.82	0.09	0.81	014570
016380	0.43		0.39	0.59	0.47	-0.53	0.53	016380
277070	0.67	0.39		0.32	0.53	-0.04	0.51	277070
023790	0.47	0.59	0.32		0.5	-0.52	0.57	023790
058730	0.82	0.47	0.53	0.5		0.09	0.84	058730
001290	0.09	-0.53	-0.04	-0.52	0.09		0.03	001290
026940	0.81	0.53	0.51	0.57	0.84	0.03		026940
	014570	016380	277070	023790	058730	001290	026940

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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

026940	+ 0.84	058730
058730	+ 0.82	014570
026940	+ 0.81	014570
277070	+ 0.67	014570
023790	+ 0.59	016380
026940	+ 0.57	023790

High negative correlations

001290	- 0.53	016380
001290	- 0.52	023790
001290	- 0.04	277070

Risk-Adjusted Indicators

There is a big difference between OLIPASS Stock performing well and OLIPASS 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 OLIPASS'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
014570	1.28	0.25	0.20	0.55	1.21	(1.72)	3.25	(2.27)	19.20
016380	1.61	0.26	0.12	0.25	2.09	(1.72)	3.07	(3.48)	11.58
277070	3.46	0.63	0.21	0.83	2.81	(4.80)	8.01	(5.05)	36.54
023790	1.80	0.23	0.13	0.33	2.01	(1.93)	4.70	(3.36)	13.03
058730	1.72	0.19	0.10	0.21	2.24	(1.86)	3.48	(4.14)	15.14
001290	0.89	(0.04)	0.00	0.36	0.00	0.00	1.69	(1.86)	5.11
026940	1.77	0.25	0.15	0.23	1.74	(2.36)	4.82	(3.12)	10.11

Be your own money manager

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