Wireless Power Correlations

332570 Stock

2,230 25.00 1.13%

The current 90-days correlation between Wireless Power Amplifier and Daejoo Electronic Materials is 0.11 (i.e., Average diversification). The correlation of Wireless Power 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.

Wireless Power Correlation With Market

Good diversification

The correlation between Wireless Power Amplifier and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wireless Power Amplifier and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Wireless Stock

0.79	078600	Daejoo Electronic	Pair Corr
0.65	090460	BH Co	Pair Corr
0.91	051370	Interflex	Pair Corr
0.94	126340	Vina Technology	Pair Corr
0.67	005935	Samsung Electronics	Pair Corr
0.69	005930	Samsung Electronics	Pair Corr
0.84	005490	POSCO Holdings	Pair Corr
0.69	005387	Hyundai Motor	Pair Corr
0.76	005385	Hyundai Motor	Pair Corr
0.79	005380	Hyundai Motor	Pair Corr
0.63	000270	Kia Corp	Pair Corr

Moving against Wireless Stock

0.8	035420	Naver	Pair Corr
0.32	011200	HMM Co	Pair Corr
0.31	045390	DAEA TI	Pair Corr

Related Correlations Analysis

	078600	140860	090460	091700	179900	108490	101390	045390	051370	126340
078600		-0.02	0.44	0.31	0.29	0.06	0.83	-0.29	0.72	0.76	078600
140860	-0.02		-0.44	-0.42	0.22	-0.12	0.05	0.22	-0.39	-0.05	140860
090460	0.44	-0.44		0.88	0.04	0.32	0.22	0.0	0.83	0.56	090460
091700	0.31	-0.42	0.88		0.05	0.45	0.11	0.19	0.72	0.4	091700
179900	0.29	0.22	0.04	0.05		0.43	0.35	0.31	-0.06	-0.13	179900
108490	0.06	-0.12	0.32	0.45	0.43		0.08	0.44	0.1	-0.25	108490
101390	0.83	0.05	0.22	0.11	0.35	0.08		-0.16	0.54	0.57	101390
045390	-0.29	0.22	0.0	0.19	0.31	0.44	-0.16		-0.25	-0.38	045390
051370	0.72	-0.39	0.83	0.72	-0.06	0.1	0.54	-0.25		0.86	051370
126340	0.76	-0.05	0.56	0.4	-0.13	-0.25	0.57	-0.38	0.86		126340
	078600	140860	090460	091700	179900	108490	101390	045390	051370	126340

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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

091700	+ 0.88	090460
126340	+ 0.86	051370
101390	+ 0.83	078600
051370	+ 0.83	090460
126340	+ 0.76	078600
051370	+ 0.72	078600

High negative correlations

090460	- 0.44	140860
091700	- 0.42	140860
051370	- 0.39	140860
126340	- 0.38	045390
045390	- 0.29	078600
051370	- 0.25	045390

Risk-Adjusted Indicators

There is a big difference between Wireless Stock performing well and Wireless Power 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 Wireless Power'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
078600	2.83	(0.32)	0.00	0.44	0.00	0.00	6.32	(6.00)	19.12
140860	2.40	(0.01)	0.00	0.12	3.40	(2.46)	4.89	(4.90)	21.05
090460	2.51	(0.33)	0.00	(2.69)	0.00	0.00	4.80	(6.18)	26.61
091700	0.89	(0.08)	0.00	(0.58)	0.00	0.00	2.14	(1.82)	8.56
179900	2.71	(0.07)	0.00	0.61	0.00	0.00	5.58	(5.28)	17.66
108490	2.12	0.10	0.02	0.31	1.98	(2.43)	4.71	(2.79)	20.40
101390	3.66	(0.43)	0.00	2.50	0.00	0.00	9.47	(7.68)	35.29
045390	1.89	(0.11)	0.00	(0.36)	0.00	0.00	4.79	(3.83)	12.71
051370	1.88	(0.44)	0.00	(1.59)	0.00	0.00	3.91	(4.08)	9.71
126340	1.73	(0.66)	0.00	(4.95)	0.00	0.00	3.01	(4.95)	17.36

Be your own money manager

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