Histeel Correlations

071090 Stock

3,050 130.00 4.09%

The current 90-days correlation between Histeel and LG Chemicals is 0.19 (i.e., Average diversification). The correlation of Histeel 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.

Histeel Correlation With Market

Modest diversification

The correlation between Histeel and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Histeel and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Histeel Stock

0.68	051910	LG Chemicals	Pair Corr
0.62	005490	POSCO Holdings	Pair Corr
0.61	009830	Hanwha Solutions	Pair Corr
0.71	004020	Hyundai Steel	Pair Corr
0.8	086520	Ecopro	Pair Corr
0.74	001230	Dongkuk Steel Mill	Pair Corr
0.72	006650	Korea Petro Chemical	Pair Corr
0.69	005380	Hyundai Motor	Pair Corr
0.61	005385	Hyundai Motor	Pair Corr
0.61	005387	Hyundai Motor	Pair Corr

Moving against Histeel Stock

0.37

032830

Samsung Life

Pair Corr

Related Correlations Analysis

	051910	005490	009830	011170	004020	086520	001230	006650	003030	001430
051910		0.89	0.71	0.76	0.9	0.83	0.85	0.88	0.05	-0.49	051910
005490	0.89		0.85	0.72	0.84	0.76	0.87	0.83	0.17	-0.59	005490
009830	0.71	0.85		0.55	0.74	0.73	0.82	0.77	0.09	-0.68	009830
011170	0.76	0.72	0.55		0.87	0.63	0.85	0.89	-0.04	-0.42	011170
004020	0.9	0.84	0.74	0.87		0.76	0.95	0.93	-0.11	-0.57	004020
086520	0.83	0.76	0.73	0.63	0.76		0.77	0.8	0.21	-0.45	086520
001230	0.85	0.87	0.82	0.85	0.95	0.77		0.92	0.0	-0.55	001230
006650	0.88	0.83	0.77	0.89	0.93	0.8	0.92		-0.01	-0.51	006650
003030	0.05	0.17	0.09	-0.04	-0.11	0.21	0.0	-0.01		0.24	003030
001430	-0.49	-0.59	-0.68	-0.42	-0.57	-0.45	-0.55	-0.51	0.24		001430
	051910	005490	009830	011170	004020	086520	001230	006650	003030	001430

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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

001230	+ 0.95	004020
006650	+ 0.93	004020
006650	+ 0.92	001230
004020	+ 0.9	051910
005490	+ 0.89	051910
006650	+ 0.89	011170

High negative correlations

001430	- 0.68	009830
001430	- 0.59	005490
001430	- 0.57	004020
001430	- 0.55	001230
001430	- 0.51	006650
001430	- 0.49	051910

Risk-Adjusted Indicators

There is a big difference between Histeel Stock performing well and Histeel 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 Histeel'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
051910	1.81	(0.12)	0.00	0.78	0.00	0.00	4.14	(5.12)	14.51
005490	2.03	(0.28)	0.00	(3.64)	0.00	0.00	4.50	(4.40)	17.75
009830	2.29	(0.56)	0.00	0.68	0.00	0.00	5.05	(4.24)	18.84
011170	2.81	(0.30)	0.00	1.81	0.00	0.00	5.83	(8.14)	21.38
004020	1.54	(0.26)	0.00	0.82	0.00	0.00	3.12	(3.77)	12.58
086520	2.78	(0.14)	0.00	0.49	0.00	0.00	5.37	(5.35)	16.86
001230	0.68	(0.13)	0.00	(16.61)	0.00	0.00	1.40	(1.86)	5.60
006650	2.40	(0.26)	0.00	0.42	0.00	0.00	5.40	(4.82)	15.91
003030	2.29	0.06	(0.02)	0.64	2.81	(2.38)	4.71	(4.40)	14.40
001430	2.14	0.09	0.07	0.18	2.12	(2.66)	4.92	(3.86)	26.98

Be your own money manager

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