Aurora World Correlations

Stocks . Korea . 
Stock . Aurora World
039830 Stock  KRW 6,100  20.00  0.33%   
The current 90-days correlation between Aurora World and Korea Real Estate is 0.35 (i.e., Weak diversification). The correlation of Aurora World 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.

Aurora World Correlation With Market

Significant diversification

The correlation between Aurora World and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aurora World and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Aurora World could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aurora World 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 Aurora World - 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 Aurora World to buy it.

Moving together with Aurora Stock

  0.84065660 AnterogenCoLtdPairCorr
  0.8078160 MEDIPOSTPairCorr
  0.73011390 Busan IndustrialPairCorr
  0.74003490 Korean Air LinesPairCorr
  0.74241840 ASTORY CoLtdPairCorr
  0.75071055 Korea Investment HoldingsPairCorr
  0.81032640 LG UplusPairCorr
  0.66005430 Korea Air SvcPairCorr
  0.89035420 NaverPairCorr
  0.82041510 SM EntertainmentPairCorr
  0.65153460 Nable CommunicationsPairCorr
  0.89035900 JYP EntertainmentPairCorr
  0.82230240 Hana Financial 7PairCorr
  0.66014940 Oriental PrecisionPairCorr
  0.8122870 YG EntertainmentPairCorr

Moving against Aurora Stock

  0.61293780 AptaBio TherapeuticsPairCorr
  0.51217330 CytogenPairCorr
  0.46036030 KT HitelPairCorr
  0.45298380 ABL BioPairCorr

Related Correlations Analysis

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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   
052300
+ 0.57
034830
262840
+ 0.18
041190
262840
+ 0.16
029780
034830
+ 0.09
029780
  
High negative correlations   
034830
- 0.64
041190
262840
- 0.4
052300
029780
- 0.21
041190
262840
- 0.19
034830
052300
- 0.14
041190
052300
- 0.13
029780

Risk-Adjusted Indicators

There is a big difference between Aurora Stock performing well and Aurora World 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 Aurora World'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Aurora World 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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