Carriesoft Correlations

317530 Stock

KRW 6,280 110.00 1.78%

The current 90-days correlation between Carriesoft and Hankook Furniture Co is 0.27 (i.e., Modest diversification). The correlation of Carriesoft 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.

Carriesoft Correlation With Market

Good diversification

The correlation between Carriesoft Co and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carriesoft Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Carriesoft Stock

0.62	352820	HYBE	Pair Corr
0.84	310200	Aniplus	Pair Corr
0.87	089970	Adaptive Plasma Tech	Pair Corr
0.77	015760	Korea Electric Power	Pair Corr

Moving against Carriesoft Stock

0.69	348030	Mobirix	Pair Corr
0.49	299900	Wysiwyg Studios	Pair Corr
0.43	066570	LG Electronics	Pair Corr
0.4	005380	Hyundai Motor	Pair Corr
0.35	225570	NH SPAC 8	Pair Corr

Related Correlations Analysis

	004590	088350	086790	105560	060560	005830	041020	017890
004590		0.54	0.72	-0.74	0.15	-0.36	0.38	0.53	004590
088350	0.54		0.63	-0.61	-0.02	0.0	0.4	0.25	088350
086790	0.72	0.63		-0.49	0.23	-0.24	0.44	0.49	086790
105560	-0.74	-0.61	-0.49		0.26	0.17	-0.33	-0.26	105560
060560	0.15	-0.02	0.23	0.26		-0.52	0.06	0.37	060560
005830	-0.36	0.0	-0.24	0.17	-0.52		-0.03	-0.66	005830
041020	0.38	0.4	0.44	-0.33	0.06	-0.03		0.12	041020
017890	0.53	0.25	0.49	-0.26	0.37	-0.66	0.12		017890
	004590	088350	086790	105560	060560	005830	041020	017890

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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

086790	+ 0.72	004590
086790	+ 0.63	088350
088350	+ 0.54	004590
017890	+ 0.53	004590
017890	+ 0.49	086790
041020	+ 0.44	086790

High negative correlations

105560	- 0.74	004590
017890	- 0.66	005830
105560	- 0.61	088350
005830	- 0.52	060560
105560	- 0.49	086790
005830	- 0.36	004590

Risk-Adjusted Indicators

There is a big difference between Carriesoft Stock performing well and Carriesoft 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 Carriesoft'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
004590	0.92	0.13	0.18	(23.66)	0.92	(1.09)	2.05	(1.62)	10.05
088350	1.42	0.02	0.05	(0.33)	1.71	(1.71)	3.53	(2.92)	11.07
086790	1.19	0.15	0.16	(0.45)	1.27	(1.33)	2.94	(2.52)	7.13
105560	1.28	(0.03)	0.00	0.09	0.00	0.00	2.61	(3.09)	10.02
060560	2.23	0.25	0.12	4.55	2.13	(3.59)	6.95	(4.97)	35.85
005830	1.49	(0.12)	0.00	0.17	0.00	0.00	3.85	(3.18)	12.50
041020	2.38	0.05	0.03	0.05	2.42	(3.18)	5.96	(3.99)	20.03
017890	0.73	0.34	0.46	1.72	0.38	(0.92)	2.50	(1.04)	5.36

Be your own money manager

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