Kakao Games Correlations
| 293490 Stock | KRW 15,510 170.00 1.08% |
The correlation of Kakao Games 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.
Kakao Games Correlation With Market
Good diversification
The correlation between Kakao Games Corp and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kakao Games Corp and DJI in the same portfolio, assuming nothing else is changed.
Kakao |
The ability to find closely correlated positions to Kakao Games could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kakao Games 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 Kakao Games - 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 Kakao Games Corp to buy it.
Moving together with Kakao Stock
| 0.78 | 036800 | Nice Information Tel | PairCorr |
| 0.73 | 373220 | LG Energy Solution | PairCorr |
| 0.75 | 051915 | LG Chem | PairCorr |
| 0.75 | 006400 | Samsung SDI | PairCorr |
Moving against Kakao Stock
| 0.65 | 276040 | SKONEC Entertainment | PairCorr |
| 0.52 | 000660 | SK Hynix | PairCorr |
| 0.42 | 207940 | Samsung Biologics | PairCorr |
| 0.37 | 194480 | Devsisters corporation | PairCorr |
| 0.32 | 022100 | Posco ICT | PairCorr |
Related Correlations Analysis
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