BRIDGETEC Corp Correlations

064480 Stock

KRW 5,480 90.00 1.67%

The current 90-days correlation between BRIDGETEC Corp and SKONEC Entertainment Co is 0.4 (i.e., Very weak diversification). The correlation of BRIDGETEC Corp 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.

BRIDGETEC Corp Correlation With Market

Good diversification

The correlation between BRIDGETEC Corp and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BRIDGETEC Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BRIDGETEC Stock

0.71	022100	Posco ICT	Pair Corr
0.76	194480	Devsisters corporation	Pair Corr
0.85	347860	Alchera	Pair Corr
0.61	036800	Nice Information Tel	Pair Corr
0.79	276040	SKONEC Entertainment	Pair Corr
0.83	123420	SundayToz Corp	Pair Corr
0.71	005930	Samsung Electronics	Pair Corr
0.7	005935	Samsung Electronics	Pair Corr
0.78	000270	Kia Corp	Pair Corr
0.74	005490	POSCO Holdings	Pair Corr
0.62	034220	LG Display	Pair Corr

Moving against BRIDGETEC Stock

0.6	030200	KT Corporation	Pair Corr
0.47	158430	ATON Inc	Pair Corr
0.43	402030	Konan Technology	Pair Corr

Related Correlations Analysis

	293490	194480	402030	036800	276040	039290	158430
293490		0.18	0.25	0.03	0.24	0.34	0.14	293490
194480	0.18		-0.77	0.81	0.81	-0.05	-0.78	194480
402030	0.25	-0.77		-0.67	-0.5	0.43	0.83	402030
036800	0.03	0.81	-0.67		0.71	-0.05	-0.74	036800
276040	0.24	0.81	-0.5	0.71		0.03	-0.58	276040
039290	0.34	-0.05	0.43	-0.05	0.03		0.46	039290
158430	0.14	-0.78	0.83	-0.74	-0.58	0.46		158430
	293490	194480	402030	036800	276040	039290	158430

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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

158430	+ 0.83	402030
036800	+ 0.81	194480
276040	+ 0.81	194480
276040	+ 0.71	036800
158430	+ 0.46	039290
039290	+ 0.43	402030

High negative correlations

158430	- 0.78	194480
402030	- 0.77	194480
158430	- 0.74	036800
036800	- 0.67	402030
158430	- 0.58	276040
276040	- 0.5	402030

Risk-Adjusted Indicators

There is a big difference between BRIDGETEC Stock performing well and BRIDGETEC Corp 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 BRIDGETEC Corp'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
293490	2.10	0.07	0.00	0.27	2.59	(2.16)	4.06	(3.93)	12.80
194480	1.95	(0.29)	0.00	2.75	0.00	0.00	4.44	(4.56)	12.66
402030	3.56	0.53	0.15	0.43	3.55	(4.34)	9.18	(6.54)	27.14
036800	0.56	(0.04)	0.00	(0.43)	0.00	0.00	0.95	(1.05)	4.42
276040	2.59	(0.07)	0.00	0.27	0.00	0.00	8.17	(5.25)	21.90
039290	3.05	0.16	0.03	0.53	3.37	(3.68)	9.57	(7.09)	23.61
158430	3.33	0.75	0.20	(1.68)	2.52	(4.56)	8.03	(5.42)	36.69

Be your own money manager

Our tools can tell you how much better you can do entering a position in BRIDGETEC Corp 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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