LS Materials Correlations

417200 Stock

11,490 560.00 4.65%

The current 90-days correlation between LS Materials and HJ ShipBuilding Construction is 0.12 (i.e., Average diversification). The correlation of LS Materials 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.

LS Materials Correlation With Market

Significant diversification

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

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

Moving together with 417200 Stock

0.64	005935	Samsung Electronics	Pair Corr
0.66	005930	Samsung Electronics	Pair Corr
0.66	051915	LG Chem	Pair Corr
0.81	051910	LG Chemicals	Pair Corr
0.94	006400	Samsung SDI	Pair Corr
0.75	005387	Hyundai Motor	Pair Corr
0.8	005385	Hyundai Motor	Pair Corr

Related Correlations Analysis

	097230	080470	013700	035890	100660	034300	322310	046120
097230		-0.55	-0.34	-0.19	0.19	0.01	-0.33	0.24	097230
080470	-0.55		0.31	0.02	0.13	0.1	0.42	-0.12	080470
013700	-0.34	0.31		0.37	0.3	-0.69	0.77	0.05	013700
035890	-0.19	0.02	0.37		0.29	-0.11	0.39	-0.03	035890
100660	0.19	0.13	0.3	0.29		-0.28	0.59	0.25	100660
034300	0.01	0.1	-0.69	-0.11	-0.28		-0.49	0.13	034300
322310	-0.33	0.42	0.77	0.39	0.59	-0.49		0.16	322310
046120	0.24	-0.12	0.05	-0.03	0.25	0.13	0.16		046120
	097230	080470	013700	035890	100660	034300	322310	046120

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

322310	+ 0.77	013700
322310	+ 0.59	100660
322310	+ 0.42	080470
322310	+ 0.39	035890
035890	+ 0.37	013700
013700	+ 0.31	080470

High negative correlations

034300	- 0.69	013700
080470	- 0.55	097230
322310	- 0.49	034300
013700	- 0.34	097230
322310	- 0.33	097230
034300	- 0.28	100660

Risk-Adjusted Indicators

There is a big difference between 417200 Stock performing well and LS Materials 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 LS Materials' 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
097230	2.86	0.56	0.23	0.48	2.33	(3.67)	9.00	(5.19)	27.63
080470	1.52	(0.06)	0.00	0.30	0.00	0.00	4.04	(4.09)	16.60
013700	0.96	(0.10)	0.00	1.53	0.00	0.00	2.03	(2.27)	6.54
035890	1.44	0.11	0.00	1.25	1.71	(1.53)	2.70	(3.00)	8.45
100660	1.84	(0.12)	0.00	(0.41)	0.00	0.00	2.95	(3.47)	24.59
034300	1.24	0.49	0.28	13.60	0.35	(1.89)	3.99	(1.98)	13.75
322310	2.56	(0.51)	0.00	6.17	0.00	0.00	4.92	(4.78)	19.60
046120	1.97	(0.06)	(0.05)	(0.02)	2.59	(1.97)	4.47	(3.40)	14.11

LS Materials Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with LS Materials stock to make a market-neutral strategy. Peer analysis of LS Materials could also be used in its relative valuation, which is a method of valuing LS Materials by comparing valuation metrics with similar companies.

HJ ShipBuilding Construction Sungchang Autotech Co Camus Engineering Construction Seohee Construction Co Seoam Machinery Industry Shinsegae Engineering Construction AurosTechnology Orbitech Co American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC