Prestige Biologics Correlations

334970 Stock

KRW 4,550 130.00 2.78%

The current 90-days correlation between Prestige Biologics and Woori Technology Investment is 0.17 (i.e., Average diversification). The correlation of Prestige Biologics 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.

Prestige Biologics Correlation With Market

Good diversification

The correlation between Prestige Biologics Co 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 Prestige Biologics Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Prestige Stock

0.74	207940	Samsung Biologics	Pair Corr
0.87	326030	Sk Biopharmaceuticals	Pair Corr
0.87	298380	ABL Bio	Pair Corr
0.93	144510	Green Cross Lab	Pair Corr
0.79	235980	MedPacto	Pair Corr
0.88	086890	ISU Abxis	Pair Corr
0.69	226950	OliX PharmaceuticalsInc	Pair Corr
0.72	055550	Shinhan Financial	Pair Corr
0.74	086790	Hana Financial	Pair Corr
0.68	005935	Samsung Electronics	Pair Corr
0.63	005930	Samsung Electronics	Pair Corr

Moving against Prestige Stock

0.51

244460

OLIPASS Split

Pair Corr

Related Correlations Analysis

	041190	003690	246690	041020	021080	007070	000400	019550
041190		0.49	-0.42	0.06	0.46	0.53	-0.17	-0.18	041190
003690	0.49		-0.59	0.52	-0.29	0.7	-0.65	0.43	003690
246690	-0.42	-0.59		-0.33	0.3	-0.3	0.65	-0.13	246690
041020	0.06	0.52	-0.33		-0.5	0.53	-0.49	0.61	041020
021080	0.46	-0.29	0.3	-0.5		-0.25	0.63	-0.53	021080
007070	0.53	0.7	-0.3	0.53	-0.25		-0.51	0.31	007070
000400	-0.17	-0.65	0.65	-0.49	0.63	-0.51		-0.52	000400
019550	-0.18	0.43	-0.13	0.61	-0.53	0.31	-0.52		019550
	041190	003690	246690	041020	021080	007070	000400	019550

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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

007070	+ 0.7	003690
000400	+ 0.65	246690
000400	+ 0.63	021080
019550	+ 0.61	041020
007070	+ 0.53	041190
007070	+ 0.53	041020

High negative correlations

000400	- 0.65	003690
246690	- 0.59	003690
019550	- 0.53	021080
019550	- 0.52	000400
000400	- 0.51	007070
021080	- 0.5	041020

Risk-Adjusted Indicators

There is a big difference between Prestige Stock performing well and Prestige Biologics 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 Prestige Biologics' 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
041190	3.44	0.10	0.02	0.19	4.23	(3.62)	8.22	(7.19)	23.42
003690	1.18	0.27	0.16	(0.92)	1.20	(1.38)	2.58	(2.13)	8.68
246690	2.05	(0.18)	0.00	(0.56)	0.00	0.00	5.60	(5.46)	24.52
041020	3.23	0.06	0.01	(0.19)	3.59	(3.86)	6.79	(6.53)	25.39
021080	2.38	(0.05)	0.00	(0.07)	0.00	0.00	5.76	(5.58)	21.40
007070	1.79	(0.31)	0.00	1.13	0.00	0.00	3.85	(4.42)	16.21
000400	1.84	(0.27)	0.00	36.65	0.00	0.00	3.39	(3.70)	14.28
019550	2.26	0.16	0.05	(1.07)	2.53	(2.72)	4.24	(4.46)	26.82

Be your own money manager

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