TR Biofab Correlations

246710 Stock

KRW 4,800 600.00 14.29%

The current 90-days correlation between TR Biofab and InnoTherapy is 0.14 (i.e., Average diversification). The correlation of TR Biofab 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.

TR Biofab Correlation With Market

Average diversification

The correlation between TR Biofab Co and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TR Biofab Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against 246710 Stock

0.79	131030	DHP Korea	Pair Corr
0.68	228670	Ray Co Earnings Call This Week	Pair Corr
0.65	226400	Osteonic	Pair Corr

Related Correlations Analysis

	246960	023450	009830	137950	020400	128660	025860	161000
246960		0.41	0.46	-0.53	0.26	0.11	0.35	-0.25	246960
023450	0.41		0.78	0.36	0.15	0.75	0.4	0.22	023450
009830	0.46	0.78		0.06	0.48	0.77	0.67	0.2	009830
137950	-0.53	0.36	0.06		-0.17	0.44	-0.07	0.47	137950
020400	0.26	0.15	0.48	-0.17		0.19	0.52	0.12	020400
128660	0.11	0.75	0.77	0.44	0.19		0.6	0.4	128660
025860	0.35	0.4	0.67	-0.07	0.52	0.6		0.4	025860
161000	-0.25	0.22	0.2	0.47	0.12	0.4	0.4		161000
	246960	023450	009830	137950	020400	128660	025860	161000

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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

009830	+ 0.78	023450
128660	+ 0.77	009830
128660	+ 0.75	023450
025860	+ 0.67	009830
025860	+ 0.6	128660
025860	+ 0.52	020400

High negative correlations

137950	- 0.53	246960
161000	- 0.25	246960
020400	- 0.17	137950
025860	- 0.07	137950

Risk-Adjusted Indicators

There is a big difference between 246710 Stock performing well and TR Biofab 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 TR Biofab'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
246960	1.41	(0.05)	0.00	(1.32)	0.00	0.00	3.16	(2.60)	10.97
023450	0.90	0.21	0.31	(0.59)	0.63	(1.29)	3.15	(1.34)	10.29
009830	2.73	0.71	0.25	0.49	2.23	(3.21)	7.89	(4.19)	21.72
137950	1.65	0.27	0.20	(5.75)	1.52	(2.15)	4.53	(3.02)	9.85
020400	2.05	0.03	0.00	(0.02)	0.00	0.00	5.64	(3.63)	15.31
128660	1.18	0.39	0.38	1.53	0.73	(1.55)	4.36	(1.25)	12.43
025860	0.89	0.14	0.16	0.37	1.05	(0.99)	2.35	(1.98)	6.56
161000	2.27	0.09	0.08	(0.21)	2.53	(2.57)	4.68	(3.66)	12.82

Be your own money manager

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