Dong Il Correlations
| 002690 Stock | 1,340 1.00 0.07% |
The current 90-days correlation between Dong Il Steel and Ajusteel Co is 0.18 (i.e., Average diversification). The correlation of Dong Il 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.
Dong Il Correlation With Market
Good diversification
The correlation between Dong Il Steel and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dong Il Steel and DJI in the same portfolio, assuming nothing else is changed.
Dong |
The ability to find closely correlated positions to Dong Il could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dong Il 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 Dong Il - 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 Dong Il Steel to buy it.
Moving together with Dong Stock
| 0.66 | 139990 | Ajusteel | PairCorr |
| 0.63 | 008260 | Ni Steel | PairCorr |
| 0.74 | 026940 | Bookook Steel | PairCorr |
| 0.67 | 025890 | Han Kook Steel | PairCorr |
| 0.69 | 053080 | Wonbang Tech | PairCorr |
Moving against Dong Stock
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Dong Il 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.Did you try this?
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