JLK Correlations

322510 Stock

7,890 410.00 5.48%

The current 90-days correlation between JLK Inc and Samsung Electronics Co is 0.2 (i.e., Modest diversification). The correlation of JLK 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.

JLK Correlation With Market

Good diversification

The correlation between JLK Inc and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JLK Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with JLK Stock

0.64	005935	Samsung Electronics	Pair Corr
0.61	005930	Samsung Electronics	Pair Corr
0.84	051915	LG Chem	Pair Corr
0.86	051910	LG Chemicals	Pair Corr
0.84	006400	Samsung SDI	Pair Corr
0.86	005387	Hyundai Motor	Pair Corr
0.87	005385	Hyundai Motor	Pair Corr

Related Correlations Analysis

	005935	005930	373220	000660	207940	051915	051910	006400	005387	005385
005935		0.98	0.1	-0.32	0.2	0.5	0.6	0.79	0.69	0.73	005935
005930	0.98		0.15	-0.29	0.23	0.49	0.6	0.81	0.65	0.7	005930
373220	0.1	0.15		0.3	0.29	0.57	0.58	0.42	0.34	0.26	373220
000660	-0.32	-0.29	0.3		0.43	0.37	0.28	0.02	0.01	-0.07	000660
207940	0.2	0.23	0.29	0.43		0.58	0.6	0.59	0.49	0.49	207940
051915	0.5	0.49	0.57	0.37	0.58		0.97	0.81	0.83	0.78	051915
051910	0.6	0.6	0.58	0.28	0.6	0.97		0.89	0.86	0.82	051910
006400	0.79	0.81	0.42	0.02	0.59	0.81	0.89		0.86	0.88	006400
005387	0.69	0.65	0.34	0.01	0.49	0.83	0.86	0.86		0.98	005387
005385	0.73	0.7	0.26	-0.07	0.49	0.78	0.82	0.88	0.98		005385
	005935	005930	373220	000660	207940	051915	051910	006400	005387	005385

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

005930	+ 0.98	005935
005385	+ 0.98	005387
051910	+ 0.97	051915
006400	+ 0.89	051910
005385	+ 0.88	006400
005387	+ 0.86	051910

High negative correlations

000660	- 0.32	005935
000660	- 0.29	005930
005385	- 0.07	000660

Risk-Adjusted Indicators

There is a big difference between JLK Stock performing well and JLK 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 JLK'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
005935	1.54	(0.26)	0.00	2.18	0.00	0.00	2.42	(3.64)	10.11
005930	1.69	(0.33)	0.00	(3.20)	0.00	0.00	3.94	(3.64)	10.64
373220	2.35	0.09	(0.01)	(0.17)	3.39	(2.35)	4.39	(5.01)	17.72
000660	2.65	0.19	0.04	0.43	3.02	(2.74)	6.20	(4.97)	14.85
207940	0.83	0.01	(0.05)	0.15	1.03	(1.54)	2.58	(2.24)	7.43
051915	2.13	(0.18)	0.00	0.45	0.00	0.00	4.35	(4.49)	14.51
051910	1.97	(0.23)	0.00	0.98	0.00	0.00	4.14	(5.40)	15.97
006400	2.50	(0.40)	0.00	0.65	0.00	0.00	5.43	(5.98)	16.72
005387	1.42	(0.12)	0.00	(0.35)	0.00	0.00	3.23	(2.97)	7.99
005385	1.28	(0.11)	0.00	(3.93)	0.00	0.00	3.49	(2.32)	7.67

JLK Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with JLK stock to make a market-neutral strategy. Peer analysis of JLK could also be used in its relative valuation, which is a method of valuing JLK by comparing valuation metrics with similar companies.

Samsung Electronics Co Samsung Electronics Co LG Energy Solution SK Hynix Samsung Biologics Co LG Chem LG Chemicals Samsung SDI Hyundai Motor Co Hyundai Motor Co American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

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