Hwangkum Steel Correlations

032560 Stock

5,170 50.00 0.98%

The current 90-days correlation between Hwangkum Steel Technology and AptaBio Therapeutics is 0.15 (i.e., Average diversification). The correlation of Hwangkum Steel 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.

Hwangkum Steel Correlation With Market

Good diversification

The correlation between Hwangkum Steel Technology and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hwangkum Steel Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hwangkum Stock

0.87	215480	Daewoo SBI SPAC	Pair Corr
0.79	302430	Innometry	Pair Corr
0.83	033240	Jahwa Electron	Pair Corr
0.71	053080	Wonbang Tech	Pair Corr

Moving against Hwangkum Stock

0.42

203650

Dream Security co

Pair Corr

Related Correlations Analysis

	293780	215480	203650	147760	302430	033240	053080
293780		0.77	-0.28	0.01	0.81	0.76	0.85	293780
215480	0.77		-0.47	0.12	0.91	0.95	0.82	215480
203650	-0.28	-0.47		0.41	-0.46	-0.57	-0.3	203650
147760	0.01	0.12	0.41		0.01	0.02	0.11	147760
302430	0.81	0.91	-0.46	0.01		0.86	0.82	302430
033240	0.76	0.95	-0.57	0.02	0.86		0.79	033240
053080	0.85	0.82	-0.3	0.11	0.82	0.79		053080
	293780	215480	203650	147760	302430	033240	053080

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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

033240	+ 0.95	215480
302430	+ 0.91	215480
033240	+ 0.86	302430
053080	+ 0.85	293780
053080	+ 0.82	215480
053080	+ 0.82	302430

High negative correlations

033240	- 0.57	203650
203650	- 0.47	215480
302430	- 0.46	203650
053080	- 0.3	203650
203650	- 0.28	293780

Risk-Adjusted Indicators

There is a big difference between Hwangkum Stock performing well and Hwangkum Steel 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 Hwangkum Steel'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
293780	3.07	(0.21)	0.00	1.10	0.00	0.00	6.16	(5.86)	19.84
215480	1.28	(0.32)	0.00	1.22	0.00	0.00	2.26	(3.04)	7.36
203650	1.99	0.27	0.07	15.74	2.07	(2.33)	4.64	(3.15)	12.75
147760	3.42	0.05	0.00	0.05	0.00	0.00	11.32	(7.31)	39.08
302430	1.97	(0.35)	0.00	3.44	0.00	0.00	3.86	(4.28)	13.14
033240	2.04	(0.68)	0.00	5.78	0.00	0.00	3.49	(4.61)	21.62
053080	2.56	(0.13)	0.00	1.24	0.00	0.00	3.34	(5.14)	30.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hwangkum Steel 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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