KakaoBank Corp Correlations

323410 Stock

22,950 100.00 0.43%

The current 90-days correlation between KakaoBank Corp and Hanyang Digitech Co is 0.19 (i.e., Average diversification). The correlation of KakaoBank Corp 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.

KakaoBank Corp Correlation With Market

Average diversification

The correlation between KakaoBank Corp and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KakaoBank Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with KakaoBank Stock

0.7	086790	Hana Financial	Pair Corr
0.73	316140	Woori Financial Group	Pair Corr
0.61	139130	Dgb Financial	Pair Corr

Moving against KakaoBank Stock

0.49	215480	Daewoo SBI SPAC	Pair Corr
0.44	055550	Shinhan Financial	Pair Corr

Related Correlations Analysis

	035510	078350	286940	046120	217730	263800	322310	049720
035510		0.06	0.36	0.21	-0.04	0.29	0.24	0.07	035510
078350	0.06		0.33	0.78	0.49	0.17	0.89	-0.73	078350
286940	0.36	0.33		0.37	0.4	0.53	0.43	-0.01	286940
046120	0.21	0.78	0.37		0.23	0.35	0.87	-0.71	046120
217730	-0.04	0.49	0.4	0.23		0.11	0.43	-0.14	217730
263800	0.29	0.17	0.53	0.35	0.11		0.39	-0.14	263800
322310	0.24	0.89	0.43	0.87	0.43	0.39		-0.73	322310
049720	0.07	-0.73	-0.01	-0.71	-0.14	-0.14	-0.73		049720
	035510	078350	286940	046120	217730	263800	322310	049720

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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

322310	+ 0.89	078350
322310	+ 0.87	046120
046120	+ 0.78	078350
263800	+ 0.53	286940
217730	+ 0.49	078350
322310	+ 0.43	286940

High negative correlations

049720	- 0.73	322310
049720	- 0.73	078350
049720	- 0.71	046120
049720	- 0.14	263800
049720	- 0.14	217730
217730	- 0.04	035510

Risk-Adjusted Indicators

There is a big difference between KakaoBank Stock performing well and KakaoBank Corp 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 KakaoBank Corp'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
035510	3.14	0.75	0.27	6.62	2.37	(3.71)	9.05	(4.48)	38.43
078350	2.65	0.73	0.24	0.64	2.44	(3.18)	6.69	(4.09)	13.14
286940	1.36	0.13	0.09	0.22	1.62	(1.46)	3.75	(3.28)	8.85
046120	2.10	0.49	0.22	0.41	1.81	(2.51)	5.24	(3.18)	17.66
217730	2.26	0.16	0.09	1.12	2.21	(2.92)	5.71	(3.82)	13.76
263800	2.13	0.09	0.06	0.20	2.04	(2.79)	5.23	(3.19)	12.19
322310	3.60	0.83	0.22	0.64	3.32	(4.33)	7.62	(4.98)	26.15
049720	0.54	(0.04)	0.00	0.68	0.00	0.00	1.44	(1.06)	4.58

Be your own money manager

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