KPX Chemical Correlations

025000 Stock

43,050 50.00 0.12%

The current 90-days correlation between KPX Chemical and ENF Technology Co is 0.28 (i.e., Modest diversification). The correlation of KPX Chemical 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.

KPX Chemical Correlation With Market

Average diversification

The correlation between KPX Chemical and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KPX Chemical and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with KPX Stock

0.91	051910	LG Chemicals	Pair Corr
0.91	005490	POSCO Holdings Earnings Call This Week	Pair Corr
0.67	009830	Hanwha Solutions	Pair Corr
0.89	011170	Lotte Chemical Corp	Pair Corr
0.84	004020	Hyundai Steel	Pair Corr
0.79	086520	Ecopro	Pair Corr
0.9	001230	Dongkuk Steel Mill	Pair Corr
0.81	006650	Korea Petro Chemical	Pair Corr
0.93	011785	Kumho Petro Chemical	Pair Corr
0.88	051915	LG Chem	Pair Corr
0.83	298050	Hyosung Advanced Mat	Pair Corr
0.89	011780	Kumho Petro Chemical	Pair Corr
0.82	097955	CJ CheilJedang Corp	Pair Corr
0.81	097950	CJ Cheiljedang	Pair Corr

Moving against KPX Stock

0.8	035900	JYP Entertainment	Pair Corr
0.79	035900	JYP Entertainment Corp	Pair Corr
0.71	083650	BHI Co	Pair Corr
0.69	078160	MEDIPOST	Pair Corr
0.63	402030	Konan Technology	Pair Corr
0.6	006040	Dongwon Ind	Pair Corr
0.6	285490	NOVATECH	Pair Corr
0.55	003030	Seah Steel Corp	Pair Corr
0.45	031860	NSN Co	Pair Corr

Related Correlations Analysis

	102710	036800	032820	019540	048530	020180	015260	458870
102710		-0.19	-0.24	0.16	0.48	0.49	-0.31	0.64	102710
036800	-0.19		0.46	0.41	0.36	-0.26	0.81	0.34	036800
032820	-0.24	0.46		0.77	0.29	-0.82	0.7	0.21	032820
019540	0.16	0.41	0.77		0.58	-0.51	0.6	0.59	019540
048530	0.48	0.36	0.29	0.58		0.01	0.24	0.69	048530
020180	0.49	-0.26	-0.82	-0.51	0.01		-0.53	0.12	020180
015260	-0.31	0.81	0.7	0.6	0.24	-0.53		0.23	015260
458870	0.64	0.34	0.21	0.59	0.69	0.12	0.23		458870
	102710	036800	032820	019540	048530	020180	015260	458870

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

015260	+ 0.81	036800
019540	+ 0.77	032820
015260	+ 0.7	032820
458870	+ 0.69	048530
458870	+ 0.64	102710
015260	+ 0.6	019540

High negative correlations

020180	- 0.82	032820
015260	- 0.53	020180
020180	- 0.51	019540
015260	- 0.31	102710
020180	- 0.26	036800
032820	- 0.24	102710

Risk-Adjusted Indicators

There is a big difference between KPX Stock performing well and KPX Chemical 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 KPX Chemical'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
102710	2.65	0.09	0.02	(0.23)	3.06	(2.82)	7.18	(5.06)	14.31
036800	0.60	(0.10)	0.00	(0.98)	0.00	0.00	1.35	(1.06)	7.73
032820	2.42	(0.15)	0.00	(0.12)	0.00	0.00	4.86	(4.82)	19.31
019540	1.57	(0.03)	0.00	(0.25)	0.00	0.00	2.89	(3.07)	8.64
048530	2.12	(0.01)	(0.01)	(0.02)	3.06	(2.92)	6.12	(3.49)	20.15
020180	2.47	0.29	0.09	0.35	2.65	(3.09)	8.06	(3.93)	32.57
015260	2.43	(0.27)	0.00	(0.65)	0.00	0.00	4.43	(4.85)	18.57
458870	3.11	(0.16)	0.00	0.30	0.00	0.00	7.84	(5.64)	17.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in KPX Chemical 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?

Run Fundamental Analysis Now

Fundamental Analysis

View fundamental data based on most recent published financial statements

All Next

Launch Module

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