Hwasung Industrial Correlations

002460 Stock

9,610 140.00 1.44%

The current 90-days correlation between Hwasung Industrial and KB Financial Group is 0.06 (i.e., Significant diversification). The correlation of Hwasung Industrial 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.

Hwasung Industrial Correlation With Market

Average diversification

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

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

Moving together with Hwasung Stock

0.62	215480	Daewoo SBI SPAC	Pair Corr
0.67	203650	Dream Security co	Pair Corr

Moving against Hwasung Stock

0.55	302430	Innometry	Pair Corr
0.44	147760	Microfriend	Pair Corr
0.33	033240	Jahwa Electron	Pair Corr

Related Correlations Analysis

	105560	055550	086790	316140	005935	005930	024110	032830	005380
105560		0.85	0.87	0.88	0.55	0.38	0.47	0.54	0.42	105560
055550	0.85		0.85	0.78	0.6	0.41	0.12	0.59	0.26	055550
086790	0.87	0.85		0.87	0.67	0.48	0.32	0.63	0.49	086790
316140	0.88	0.78	0.87		0.53	0.25	0.46	0.64	0.35	316140
005935	0.55	0.6	0.67	0.53		0.9	-0.08	0.61	0.6	005935
005930	0.38	0.41	0.48	0.25	0.9		-0.1	0.39	0.55	005930
024110	0.47	0.12	0.32	0.46	-0.08	-0.1		-0.05	0.12	024110
032830	0.54	0.59	0.63	0.64	0.61	0.39	-0.05		0.24	032830
005380	0.42	0.26	0.49	0.35	0.6	0.55	0.12	0.24		005380
	105560	055550	086790	316140	005935	005930	024110	032830	005380

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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

005930	+ 0.9	005935
316140	+ 0.88	105560
086790	+ 0.87	105560
316140	+ 0.87	086790
055550	+ 0.85	105560
086790	+ 0.85	055550

High negative correlations

024110	- 0.1	005930
024110	- 0.08	005935
032830	- 0.05	024110

Risk-Adjusted Indicators

There is a big difference between Hwasung Stock performing well and Hwasung Industrial 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 Hwasung Industrial'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
105560	1.63	(0.06)	0.35	0.00	0.00	3.32	(3.83)	18.43
055550	1.66	(0.16)	(4.34)	0.00	0.00	3.39	(4.96)	11.82
086790	1.50	(0.11)	0.54	0.00	0.00	3.32	(3.69)	10.74
316140	1.08	(0.08)	2.16	0.00	0.00	1.89	(2.96)	8.55
005935	1.55	(0.16)	1.28	0.00	0.00	2.90	(3.25)	10.84
005930	1.63	(0.10)	(3.31)	0.00	0.00	3.52	(3.51)	10.64
024110	0.92	0.05	(0.69)	1.23	(0.98)	1.87	(2.11)	5.37
032830	1.79	(0.31)	0.66	0.00	0.00	2.81	(3.68)	16.38
005380	1.58	(0.19)	14.83	0.00	0.00	4.73	(3.42)	9.53

Be your own money manager

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