Rainbow Robotics Correlations

277810 Stock

KRW 342,500 50,000 12.74%

The current 90-days correlation between Rainbow Robotics and BNK Financial Group is 0.16 (i.e., Average diversification). The correlation of Rainbow Robotics 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.

Rainbow Robotics Correlation With Market

Significant diversification

The correlation between Rainbow Robotics 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 Rainbow Robotics and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Rainbow Stock

0.92	282880	COWINTECH Split	Pair Corr
0.9	297090	CS BEARING CoLtd	Pair Corr
0.62	317850	DAEMO Engineering	Pair Corr
0.98	317830	SP Systems CoLtd	Pair Corr
0.91	059270	Haisung TPC	Pair Corr
0.77	000660	SK Hynix	Pair Corr
0.63	053800	AhnLab Inc	Pair Corr
0.79	004590	Hankook Furniture	Pair Corr

Moving against Rainbow Stock

0.8	036560	Young Poong Precision	Pair Corr
0.79	066570	LG Electronics	Pair Corr
0.63	005380	Hyundai Motor	Pair Corr
0.52	008470	Booster Co	Pair Corr
0.51	105560	KB Financial Group	Pair Corr
0.5	055550	Shinhan Financial	Pair Corr

Related Correlations Analysis

	001390	138930	032830	039290	139130	088350	049720	023450
001390		0.09	-0.12	0.17	0.37	0.37	-0.25	0.33	001390
138930	0.09		-0.5	0.07	0.81	-0.12	-0.43	0.52	138930
032830	-0.12	-0.5		-0.23	-0.21	0.63	0.23	-0.69	032830
039290	0.17	0.07	-0.23		-0.1	-0.38	0.08	0.53	039290
139130	0.37	0.81	-0.21	-0.1		0.36	-0.6	0.36	139130
088350	0.37	-0.12	0.63	-0.38	0.36		-0.19	-0.34	088350
049720	-0.25	-0.43	0.23	0.08	-0.6	-0.19		-0.33	049720
023450	0.33	0.52	-0.69	0.53	0.36	-0.34	-0.33		023450
	001390	138930	032830	039290	139130	088350	049720	023450

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

139130	+ 0.81	138930
088350	+ 0.63	032830
023450	+ 0.53	039290
023450	+ 0.52	138930
139130	+ 0.37	001390
088350	+ 0.37	001390

High negative correlations

023450	- 0.69	032830
049720	- 0.6	139130
032830	- 0.5	138930
049720	- 0.43	138930
088350	- 0.38	039290
023450	- 0.34	088350

Risk-Adjusted Indicators

There is a big difference between Rainbow Stock performing well and Rainbow Robotics 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 Rainbow Robotics' 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
001390	1.54	0.12	0.06	1.94	1.86	(1.77)	3.82	(2.82)	12.18
138930	1.52	0.31	0.18	1.30	1.50	(1.78)	3.60	(3.11)	12.02
032830	2.03	(0.19)	0.00	(0.34)	0.00	0.00	4.37	(4.67)	15.17
039290	2.81	0.06	0.03	(0.13)	3.13	(3.39)	9.55	(4.62)	23.72
139130	1.11	0.25	0.15	1.10	1.40	(1.16)	2.37	(2.26)	8.14
088350	1.38	(0.05)	0.00	0.37	0.00	0.00	2.65	(3.45)	11.07
049720	0.63	(0.02)	0.02	0.02	0.74	(0.67)	1.45	(1.10)	4.58
023450	0.94	0.16	0.18	(0.98)	0.73	(1.41)	3.15	(1.47)	10.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in Rainbow Robotics 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.

Did you try this?

Run Instant Ratings Now

Instant Ratings

Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC