Woori Financial Correlations

WF Stock

USD 34.13 0.26 0.77%

The current 90-days correlation between Woori Financial Group and Shinhan Financial Group is 0.59 (i.e., Very weak diversification). The correlation of Woori Financial 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.

Woori Financial Correlation With Market

Very weak diversification

The correlation between Woori Financial Group and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Woori Financial Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Woori Financial Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Woori Stock

0.67	TECTP	Tectonic Financial	Pair Corr
0.62	TFC-PI	Truist Financial	Pair Corr
0.65	TFC-PO	Truist Financial	Pair Corr
0.76	EBMT	Eagle Bancorp Montana	Pair Corr
0.63	CFG-PH	Citizens Financial Group,	Pair Corr
0.7	KEY-PJ	KeyCorp	Pair Corr
0.65	KEY-PL	KeyCorp	Pair Corr
0.69	BANC-PF	Banc of California	Pair Corr

Moving against Woori Stock

0.36	KB	KB Financial Group	Pair Corr
0.32	AX	Axos Financial	Pair Corr
0.71	EFSI	Eagle Financial Services	Pair Corr
0.47	WAFD	Washington Federal	Pair Corr
0.4	WAFDP	Washington Federal	Pair Corr
0.34	EGBN	Eagle Bancorp	Pair Corr
0.32	WABC	Westamerica Bancorporation	Pair Corr

Related Correlations Analysis

	SHG	KB	BCH	IX	SKM
SHG		0.94	-0.5	0.06	-0.01	SHG
KB	0.94		-0.59	0.09	-0.16	KB
BCH	-0.5	-0.59		-0.07	0.31	BCH
IX	0.06	0.09	-0.07		-0.33	IX
SKM	-0.01	-0.16	0.31	-0.33		SKM
	SHG	KB	BCH	IX	SKM

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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

KB	+ 0.94	SHG
SKM	+ 0.31	BCH
IX	+ 0.09	KB
IX	+ 0.06	SHG

High negative correlations

BCH	- 0.59	KB
BCH	- 0.5	SHG
SKM	- 0.33	IX
SKM	- 0.16	KB
IX	- 0.07	BCH
SKM	- 0.01	SHG

Risk-Adjusted Indicators

There is a big difference between Woori Stock performing well and Woori Financial 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 Woori Financial'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
SHG	1.02	(0.07)	0.00	(0.20)	0.00	0.00	2.44	(1.75)	5.58
KB	1.05	(0.07)	0.00	(0.20)	0.00	0.00	2.63	(2.18)	7.01
BCH	0.99	0.32	0.27	0.76	0.95	(1.06)	2.32	(1.74)	4.98
IX	0.95	0.04	0.00	(0.02)	0.00	0.00	1.82	(2.17)	7.70
SKM	0.92	(0.03)	0.00	(0.12)	0.00	0.00	2.24	(1.72)	5.06

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