Next Entertainment Correlations

160550 Stock

KRW 2,325 20.00 0.85%

The current 90-days correlation between Next Entertainment World and Korea New Network is 0.37 (i.e., Weak diversification). The correlation of Next Entertainment 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.

Next Entertainment Correlation With Market

Good diversification

The correlation between Next Entertainment World and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Next Entertainment World and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Next Stock

0.62

032190

Daou Data Corp

Pair Corr

Related Correlations Analysis

	058400	040910	104460	011390	036200	314140	133820	500003	133820	267250
058400		-0.48	-0.55	0.41	0.11	-0.15	0.2	-0.37	0.2	-0.19	058400
040910	-0.48		0.72	-0.63	0.65	0.82	-0.39	-0.07	-0.39	0.37	040910
104460	-0.55	0.72		-0.48	0.46	0.52	-0.14	0.06	-0.14	0.28	104460
011390	0.41	-0.63	-0.48		-0.46	-0.58	0.58	0.0	0.58	-0.18	011390
036200	0.11	0.65	0.46	-0.46		0.85	-0.42	-0.34	-0.42	0.25	036200
314140	-0.15	0.82	0.52	-0.58	0.85		-0.56	-0.25	-0.56	0.32	314140
133820	0.2	-0.39	-0.14	0.58	-0.42	-0.56		-0.22	1.0	-0.1	133820
500003	-0.37	-0.07	0.06	0.0	-0.34	-0.25	-0.22		-0.22	-0.12	500003
133820	0.2	-0.39	-0.14	0.58	-0.42	-0.56	1.0	-0.22		-0.1	133820
267250	-0.19	0.37	0.28	-0.18	0.25	0.32	-0.1	-0.12	-0.1		267250
	058400	040910	104460	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	+ 0.85	036200
314140	+ 0.82	040910
104460	+ 0.72	040910
036200	+ 0.65	040910
133820	+ 0.58	011390

High negative correlations

011390	- 0.63	040910
314140	- 0.58	011390
133820	- 0.56	314140
133820	- 0.56	314140
104460	- 0.55	058400
011390	- 0.48	104460

Risk-Adjusted Indicators

There is a big difference between Next Stock performing well and Next Entertainment 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 Next Entertainment'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
058400	1.05	0.04	(0.06)	(0.50)	1.34	(1.49)	3.60	(2.96)	9.85
040910	1.99	(0.60)	0.00	(2.71)	0.00	0.00	3.77	(4.29)	10.22
104460	2.48	(0.30)	0.00	(0.07)	0.00	0.00	5.14	(4.62)	19.67
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 Next Entertainment 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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