Shinhan WTI Correlations

Stocks . Korea . 
Stock . Shinhan WTI Futures
500015 Stock   7,425  210.00  2.75%   
The current 90-days correlation between Shinhan WTI Futures and Husteel is 0.14 (i.e., Average diversification). The correlation of Shinhan WTI 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 WTI Correlation With Market

Average diversification

The correlation between Shinhan WTI Futures and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shinhan WTI Futures and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Shinhan WTI 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 WTI 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 WTI - 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 WTI Futures to buy it.

Moving together with Shinhan Stock

  0.81000660 SK HynixPairCorr
  0.69207940 Samsung BiologicsPairCorr

Moving against Shinhan Stock

  0.61051910 LG ChemicalsPairCorr
  0.59373220 LG Energy SolutionPairCorr
  0.57051915 LG ChemPairCorr
  0.57006400 Samsung SDIPairCorr
  0.31005935 Samsung ElectronicsPairCorr

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   
133820
+ 0.92
023790
026940
+ 0.87
200710
042370
+ 0.85
005010
026940
+ 0.81
005010
026940
+ 0.8
012620
042370
+ 0.8
200710
  
High negative correlations   
133820
- 0.0
012620

Risk-Adjusted Indicators

There is a big difference between Shinhan Stock performing well and Shinhan WTI 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 WTI'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.

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