Shinhan Inverse Correlations

500008 Stock

5,010 200.00 3.84%

The current 90-days correlation between Shinhan Inverse Copper and Korea Steel Co is 0.12 (i.e., Average diversification). The correlation of Shinhan Inverse 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.

Shinhan Inverse Correlation With Market

Significant diversification

The correlation between Shinhan Inverse Copper and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shinhan Inverse Copper and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Shinhan Stock

0.86	293780	AptaBio Therapeutics	Pair Corr
0.6	033240	Jahwa Electron	Pair Corr
0.43	053080	Wonbang Tech	Pair Corr

Related Correlations Analysis

	007280	032560	012160	133820	023790	020150	131400
007280		0.59	0.24	0.04	0.05	0.13	-0.25	007280
032560	0.59		0.27	0.29	0.36	0.49	0.47	032560
012160	0.24	0.27		-0.19	-0.18	0.23	0.17	012160
133820	0.04	0.29	-0.19		0.92	0.55	0.38	133820
023790	0.05	0.36	-0.18	0.92		0.49	0.42	023790
020150	0.13	0.49	0.23	0.55	0.49		0.73	020150
131400	-0.25	0.47	0.17	0.38	0.42	0.73		131400
	007280	032560	012160	133820	023790	020150	131400

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

023790	+ 0.92	133820
131400	+ 0.73	020150
032560	+ 0.59	007280
020150	+ 0.55	133820
020150	+ 0.49	032560
020150	+ 0.49	023790

High negative correlations

131400	- 0.25	007280
133820	- 0.19	012160
023790	- 0.18	012160

Risk-Adjusted Indicators

There is a big difference between Shinhan Stock performing well and Shinhan Inverse 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 Shinhan Inverse'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
007280	1.31	0.21	0.13	(1.64)	1.32	(1.59)	4.38	(2.67)	10.55
032560	0.73	0.06	0.05	0.93	1.20	(0.78)	1.73	(1.44)	6.10
012160	1.39	0.02	0.01	0.15	2.05	(1.68)	2.98	(3.12)	11.28
133820	2.20	0.21	0.09	0.97	2.21	(2.81)	5.51	(4.37)	13.88
023790	1.98	0.12	0.05	0.69	2.41	(2.00)	4.70	(3.72)	13.03
020150	3.06	0.15	0.04	(0.22)	3.40	(3.64)	6.35	(6.83)	23.27
131400	2.33	0.12	0.04	(0.95)	2.78	(2.53)	5.04	(3.74)	24.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shinhan Inverse 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.

Did you try this?

Run Sync Your Broker Now

Sync Your Broker

Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.

All Next

Launch Module

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