SK Hynix Correlations
| HY9H Stock | 109.00 4.00 3.54% |
The current 90-days correlation between SK hynix and Intel is 0.12 (i.e., Average diversification). The correlation of SK Hynix 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.
SK Hynix Correlation With Market
Significant diversification
The correlation between SK hynix and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SK hynix and DJI in the same portfolio, assuming nothing else is changed.
HY9H |
The ability to find closely correlated positions to SK Hynix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SK Hynix 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 SK Hynix - 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 SK hynix to buy it.
Moving together with HY9H Stock
| 0.68 | NVD | NVIDIA | PairCorr |
| 0.67 | NVD | NVIDIA | PairCorr |
| 0.79 | TSFA | Taiwan Semiconductor | PairCorr |
| 0.77 | 1YD | Broadcom Earnings Call This Week | PairCorr |
| 0.68 | QCI | QUALCOMM Incorporated | PairCorr |
| 0.68 | W5E | Peel Mining Limited | PairCorr |
| 0.69 | E908 | Lyxor 1 | PairCorr |
| 0.75 | DBPE | Xtrackers LevDAX | PairCorr |
Moving against HY9H Stock
Related Correlations Analysis
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SK Hynix Corporate Management
Elected by the shareholders, the SK Hynix's board of directors comprises two types of representatives: SK Hynix inside directors who are chosen from within the company, and outside directors, selected externally and held independent of HY9H. The board's role is to monitor SK Hynix's management team and ensure that shareholders' interests are well served. SK Hynix's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, SK Hynix's outside directors are responsible for providing unbiased perspectives on the board's policies.