TL Correlations

340570 Stock   84,000  7,900  10.38%   
The current 90-days correlation between TL Co and Samsung Electronics Co is -0.22 (i.e., Very good diversification). The correlation of TL 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.

TL Correlation With Market

Good diversification

The correlation between TL Co and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TL Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to TL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TL 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 TL - 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 TL Co to buy it.

Moving together with TL Stock

  0.67003030 Seah Steel CorpPairCorr
  0.68214150 CLASSYSPairCorr
  0.81009680 MotonicPairCorr
  0.69272290 INNOX Advanced MaterialsPairCorr
  0.86064820 Cape IndustriesPairCorr
  0.68000150 DoosanPairCorr

Moving against TL Stock

  0.31005935 Samsung ElectronicsPairCorr
  0.31051910 LG ChemicalsPairCorr
  0.4048470 Daedong SteelPairCorr
  0.33123750 Alton Sports CoLtdPairCorr

Related Correlations Analysis

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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   
005930005935
005385005387
006400051915
006400051910
207940000660
006400373220
  
High negative correlations   
006400207940
051915207940
051910207940
051915005935
006400000660
005385051910

Risk-Adjusted Indicators

There is a big difference between TL Stock performing well and TL 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 TL'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
005935  1.28  0.18  0.15  1.21  1.55 
 3.59 
 10.27 
005930  1.22  0.17  0.19  3.60  1.13 
 3.43 
 6.74 
373220  1.97 (0.21) 0.00 (4.01) 0.00 
 4.42 
 11.44 
000660  2.37  0.42  0.14  0.30  2.74 
 5.95 
 19.70 
207940  0.33  0.06  0.00 (0.74) 0.00 
 1.61 
 3.91 
051915  1.92 (0.56) 0.00 (0.99) 0.00 
 4.68 
 13.44 
051910  2.19 (0.11) 0.00 (0.30) 0.00 
 4.54 
 12.25 
006400  2.17 (0.44) 0.00 (1.44) 0.00 
 3.91 
 12.87 
005387  1.08  0.02  0.06  0.02  1.54 
 2.81 
 7.60 
005385  0.90  0.04  0.10  0.14  1.12 
 2.10 
 5.34 

TL 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 TL stock to make a market-neutral strategy. Peer analysis of TL could also be used in its relative valuation, which is a method of valuing TL by comparing valuation metrics with similar companies.
 Risk & Return  Correlation