Cheryong Electric Correlations

033100 Stock

KRW 41,100 1,900 4.85%

The current 90-days correlation between Cheryong Electric CoLtd and Daebo Magnetic CoLtd is 0.25 (i.e., Modest diversification). The correlation of Cheryong Electric 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.

Cheryong Electric Correlation With Market

Significant diversification

The correlation between Cheryong Electric CoLtd and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cheryong Electric CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Cheryong Stock

0.73	054210	Elentec	Pair Corr
0.65	126700	HyVision System	Pair Corr
0.85	290670	Daebo Magnetic CoLtd	Pair Corr
0.78	277880	TSI Co	Pair Corr
0.63	012340	Nuintek CoLtd	Pair Corr
0.62	207940	Samsung Biologics	Pair Corr
0.73	051915	LG Chem	Pair Corr
0.77	051910	LG Chemicals	Pair Corr
0.7	006400	Samsung SDI	Pair Corr
0.66	005387	Hyundai Motor	Pair Corr
0.67	005385	Hyundai Motor	Pair Corr

Related Correlations Analysis

	068240	290670	042370	011390	036200	314140	133820	500003	133820	267250
068240		-0.15	0.44	0.13	-0.09	-0.23	0.15	0.07	0.15	0.3	068240
290670	-0.15		-0.04	-0.67	0.85	0.94	-0.69	-0.18	-0.69	0.26	290670
042370	0.44	-0.04		0.19	0.19	0.01	0.56	-0.34	0.56	0.13	042370
011390	0.13	-0.67	0.19		-0.46	-0.58	0.58	0.0	0.58	-0.18	011390
036200	-0.09	0.85	0.19	-0.46		0.85	-0.42	-0.34	-0.42	0.25	036200
314140	-0.23	0.94	0.01	-0.58	0.85		-0.56	-0.25	-0.56	0.32	314140
133820	0.15	-0.69	0.56	0.58	-0.42	-0.56		-0.22	1.0	-0.1	133820
500003	0.07	-0.18	-0.34	0.0	-0.34	-0.25	-0.22		-0.22	-0.12	500003
133820	0.15	-0.69	0.56	0.58	-0.42	-0.56	1.0	-0.22		-0.1	133820
267250	0.3	0.26	0.13	-0.18	0.25	0.32	-0.1	-0.12	-0.1		267250
	068240	290670	042370	011390	036200	314140	133820	500003	133820	267250

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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
314140	+ 0.94	290670
036200	+ 0.85	290670
314140	+ 0.85	036200
133820	+ 0.58	011390
133820	+ 0.58	011390

High negative correlations

133820	- 0.69	290670
133820	- 0.69	290670
011390	- 0.67	290670
314140	- 0.58	011390
133820	- 0.56	314140
133820	- 0.56	314140

Risk-Adjusted Indicators

There is a big difference between Cheryong Stock performing well and Cheryong Electric 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 Cheryong Electric'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
068240	1.73	(0.05)	(0.03)	0.02	2.78	(1.61)	2.96	(4.06)	16.48
290670	2.18	(0.42)	0.00	0.67	0.00	0.00	4.59	(5.50)	21.60
042370	1.67	(0.19)	0.00	(0.16)	0.00	0.00	3.25	(2.62)	8.85
011390	2.78	0.19	0.04	0.42	3.23	(3.54)	5.62	(4.82)	43.62
036200	2.45	(0.44)	0.00	(3.18)	0.00	0.00	6.07	(4.56)	16.12
314140	1.79	(0.44)	0.00	(0.92)	0.00	0.00	3.90	(4.19)	14.17
133820	2.08	0.02	(0.02)	0.15	2.22	(2.73)	3.59	(3.69)	25.82
500003	1.63	0.03	(0.05)	(0.09)	1.84	(1.88)	4.16	(3.07)	9.46
133820	2.08	0.02	(0.02)	0.15	2.22	(2.73)	3.59	(3.69)	25.82
267250	1.40	(0.09)	0.00	(0.35)	0.00	0.00	2.80	(3.21)	9.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cheryong Electric 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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