SHINHAN FINL Correlations

KSF1 Stock

EUR 32.20 0.20 0.63%

The current 90-days correlation between SHINHAN FINL ADR1 and Aluminum of is -0.02 (i.e., Good diversification). The correlation of SHINHAN FINL 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 FINL Correlation With Market

Average diversification

The correlation between SHINHAN FINL ADR1 and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SHINHAN FINL ADR1 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SHINHAN FINL 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 FINL 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 FINL - 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 FINL ADR1 to buy it.

Moving together with SHINHAN Stock

0.71	BYRA	PT Bank Rakyat	Pair Corr
0.76	1Q6	Prosafe SE	Pair Corr
0.81	NVE	NVR Inc	Pair Corr
0.77	S0V	Seaboard	Pair Corr
0.77	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against SHINHAN Stock

0.87	AIRA	Airbus SE	Pair Corr
0.82	BSI	BE Semiconductor Ind	Pair Corr
0.81	ZOF	SBI Holdings	Pair Corr
0.78	DBPE	Xtrackers LevDAX	Pair Corr
0.73	DEVL	DBS Group Holdings	Pair Corr
0.68	MZ8	Mizuho Financial	Pair Corr
0.67	ICBA	ICICI Bank Limited Earnings Call This Week	Pair Corr
0.67	MZ8A	Mizuho Financial	Pair Corr
0.66	E908	Lyxor 1	Pair Corr
0.64	5JP	Japan Post Bank	Pair Corr
0.62	HDFA	HDFC Bank Limited Earnings Call This Week	Pair Corr
0.61	DP4B	AP Møller	Pair Corr
0.61	OTP	OTP Bank Nyrt	Pair Corr
0.61	A2P	COPLAND ROAD CAPITAL	Pair Corr
0.57	DP4A	AP Mller	Pair Corr
0.51	DTE	Deutsche Telekom	Pair Corr
0.4	SID	State Bank	Pair Corr

Related Correlations Analysis

	3TY	5PMA	E6U	D2V	KWO	AY5	FVJ	AOC
3TY		-0.38	0.57	0.18	-0.3	-0.33	-0.07	-0.03	3TY
5PMA	-0.38		-0.48	-0.11	0.36	0.2	0.27	0.21	5PMA
E6U	0.57	-0.48		0.59	-0.41	-0.49	-0.23	-0.13	E6U
D2V	0.18	-0.11	0.59		-0.29	-0.52	-0.48	-0.23	D2V
KWO	-0.3	0.36	-0.41	-0.29		0.47	0.51	0.6	KWO
AY5	-0.33	0.2	-0.49	-0.52	0.47		0.53	0.53	AY5
FVJ	-0.07	0.27	-0.23	-0.48	0.51	0.53		0.72	FVJ
AOC	-0.03	0.21	-0.13	-0.23	0.6	0.53	0.72		AOC
	3TY	5PMA	E6U	D2V	KWO	AY5	FVJ	AOC

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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

AOC	+ 0.72	FVJ
AOC	+ 0.6	KWO
D2V	+ 0.59	E6U
E6U	+ 0.57	3TY
FVJ	+ 0.53	AY5
AOC	+ 0.53	AY5

High negative correlations

AY5	- 0.52	D2V
AY5	- 0.49	E6U
FVJ	- 0.48	D2V
E6U	- 0.48	5PMA
KWO	- 0.41	E6U
5PMA	- 0.38	3TY

Risk-Adjusted Indicators

There is a big difference between SHINHAN Stock performing well and SHINHAN FINL 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 FINL'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
3TY	2.16	0.16	0.06	1.33	2.04	(3.41)	5.11	(3.76)	18.48
5PMA	3.31	0.24	0.06	0.17	3.27	(5.24)	8.70	(6.25)	24.82
E6U	4.06	0.59	0.14	(0.90)	3.78	(5.55)	9.23	(8.12)	20.52
D2V	1.76	0.27	0.11	1.82	2.06	(2.16)	4.47	(3.36)	19.66
KWO	1.00	(0.02)	0.00	0.06	0.00	0.00	2.13	(3.06)	15.06
AY5	1.05	(0.10)	0.00	0.54	0.00	0.00	1.23	(2.38)	10.86
FVJ	1.64	(0.26)	0.00	3.20	0.00	0.00	3.96	(3.29)	10.93
AOC	3.06	(0.04)	0.00	(0.03)	0.00	0.00	5.66	(6.35)	19.06

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Our tools can tell you how much better you can do entering a position in SHINHAN FINL 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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