Hankook Furniture Correlations

004590 Stock

KRW 4,055 40.00 0.98%

The current 90-days correlation between Hankook Furniture and Korea Real Estate is 0.2 (i.e., Modest diversification). The correlation of Hankook Furniture 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.

Hankook Furniture Correlation With Market

Good diversification

The correlation between Hankook Furniture Co and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hankook Furniture Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Hankook Stock

0.39	066570	LG Electronics	Pair Corr
0.32	005930	Samsung Electronics	Pair Corr
0.32	005385	Hyundai Motor	Pair Corr

Related Correlations Analysis

	034830	011390	036200	314140	133820	500003	133820	267250	263920	361580
034830		-0.47	0.6	0.76	-0.4	-0.32	-0.4	0.31	0.74	0.77	034830
011390	-0.47		-0.43	-0.55	0.57	-0.01	0.57	-0.17	-0.58	-0.41	011390
036200	0.6	-0.43		0.85	-0.38	-0.34	-0.38	0.26	0.66	0.81	036200
314140	0.76	-0.55	0.85		-0.51	-0.24	-0.51	0.33	0.82	0.88	314140
133820	-0.4	0.57	-0.38	-0.51		-0.23	1.0	-0.08	-0.41	-0.34	133820
500003	-0.32	-0.01	-0.34	-0.24	-0.23		-0.23	-0.12	-0.08	-0.32	500003
133820	-0.4	0.57	-0.38	-0.51	1.0	-0.23		-0.08	-0.41	-0.34	133820
267250	0.31	-0.17	0.26	0.33	-0.08	-0.12	-0.08		0.25	0.45	267250
263920	0.74	-0.58	0.66	0.82	-0.41	-0.08	-0.41	0.25		0.85	263920
361580	0.77	-0.41	0.81	0.88	-0.34	-0.32	-0.34	0.45	0.85		361580
	034830	011390	036200	314140	133820	500003	133820	267250	263920	361580

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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	+ 1.0	133820
361580	+ 0.88	314140
314140	+ 0.85	036200
361580	+ 0.85	263920
263920	+ 0.82	314140
361580	+ 0.81	036200

High negative correlations

263920	- 0.58	011390
314140	- 0.55	011390
133820	- 0.51	314140
133820	- 0.51	314140
011390	- 0.47	034830
036200	- 0.43	011390

Risk-Adjusted Indicators

There is a big difference between Hankook Stock performing well and Hankook Furniture 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 Hankook Furniture'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
034830	0.65	0.01	0.00	0.09	0.00	0.00	1.80	(1.58)	7.70
011390	2.75	0.22	0.05	0.51	3.19	(3.54)	5.62	(4.82)	43.62
036200	2.41	(0.36)	0.00	(3.54)	0.00	0.00	6.07	(4.11)	16.12
314140	1.81	(0.46)	0.00	(1.07)	0.00	0.00	3.90	(4.19)	14.17
133820	2.05	0.07	0.00	0.28	2.14	(2.65)	3.59	(3.69)	25.82
500003	1.64	0.03	(0.05)	(0.21)	1.83	(1.90)	4.16	(3.07)	9.46
133820	2.05	0.07	0.00	0.28	2.14	(2.65)	3.59	(3.69)	25.82
267250	1.39	(0.07)	0.00	(0.25)	0.00	0.00	2.80	(3.21)	9.29
263920	0.64	(0.14)	0.00	2.00	0.00	0.00	1.17	(1.75)	4.38
361580	0.83	(0.20)	0.00	(1.53)	0.00	0.00	1.61	(2.16)	5.89

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hankook Furniture 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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