Coloray International Correlations

900310 Stock

811.00 1.00 0.12%

The current 90-days correlation between Coloray International and Seoyon Topmetal Co is 0.07 (i.e., Significant diversification). The correlation of Coloray International 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.

Coloray International Correlation With Market

Good diversification

The correlation between Coloray International Investme and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coloray International Investme and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Coloray Stock

0.87	357550	Sukgyung AT	Pair Corr
0.81	112290	Youngchang Chemical	Pair Corr
0.61	104460	DYPNF CoLtd	Pair Corr

Moving against Coloray Stock

0.9	051915	LG Chem	Pair Corr
0.69	058400	Korea New Network	Pair Corr
0.58	298000	Hyosung Chemical Corp	Pair Corr
0.55	239890	PH Tech	Pair Corr

Related Correlations Analysis

	019770	020180	077360	100030	090370	109960	010280	460850
019770		0.33	0.65	-0.37	0.57	-0.4	0.76	0.93	019770
020180	0.33		0.33	0.01	0.23	0.27	0.21	0.37	020180
077360	0.65	0.33		-0.16	0.52	-0.08	0.5	0.76	077360
100030	-0.37	0.01	-0.16		-0.23	0.3	-0.26	-0.41	100030
090370	0.57	0.23	0.52	-0.23		0.17	0.72	0.72	090370
109960	-0.4	0.27	-0.08	0.3	0.17		-0.15	-0.28	109960
010280	0.76	0.21	0.5	-0.26	0.72	-0.15		0.79	010280
460850	0.93	0.37	0.76	-0.41	0.72	-0.28	0.79		460850
	019770	020180	077360	100030	090370	109960	010280	460850

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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

460850	+ 0.93	019770
460850	+ 0.79	010280
010280	+ 0.76	019770
460850	+ 0.76	077360
010280	+ 0.72	090370
460850	+ 0.72	090370

High negative correlations

460850	- 0.41	100030
109960	- 0.4	019770
100030	- 0.37	019770
460850	- 0.28	109960
010280	- 0.26	100030
090370	- 0.23	100030

Risk-Adjusted Indicators

There is a big difference between Coloray Stock performing well and Coloray International 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 Coloray International'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
019770	1.00	0.16	0.14	0.34	1.12	(1.07)	2.63	(1.67)	5.78
020180	2.60	0.27	0.10	(2.64)	2.91	(2.95)	6.70	(4.11)	32.57
077360	2.14	0.10	0.04	0.05	2.35	(2.58)	4.29	(3.97)	11.36
100030	0.86	(0.10)	0.00	(0.71)	0.00	0.00	2.08	(2.45)	10.01
090370	1.36	0.14	0.08	0.65	2.01	(1.32)	3.19	(2.51)	8.75
109960	2.26	(0.22)	0.00	(0.23)	0.00	0.00	5.54	(6.48)	16.93
010280	1.85	0.27	0.10	(1.09)	2.95	(2.25)	3.54	(2.34)	47.13
460850	1.04	0.26	0.25	0.94	0.96	(1.25)	2.44	(1.64)	6.95

Be your own money manager

Our tools can tell you how much better you can do entering a position in Coloray International 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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