Namhae Chemical Correlations

025860 Stock

6,260 20.00 0.32%

The current 90-days correlation between Namhae Chemical and Korea Petro Chemical is 0.1 (i.e., Average diversification). The correlation of Namhae 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.

Namhae Chemical Correlation With Market

Average diversification

The correlation between Namhae Chemical and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Namhae Chemical and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Namhae 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 Namhae 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 Namhae 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 Namhae Chemical to buy it.

Moving together with Namhae Stock

0.7	009830	Hanwha Solutions	Pair Corr
0.65	004020	Hyundai Steel	Pair Corr
0.74	086520	Ecopro	Pair Corr
0.74	001230	Dongkuk Steel Mill	Pair Corr
0.66	006650	Korea Petro Chemical	Pair Corr
0.67	005935	Samsung Electronics	Pair Corr
0.7	005930	Samsung Electronics	Pair Corr

Moving against Namhae Stock

0.43

001430

SeAH Bestee

Pair Corr

Related Correlations Analysis

	051910	005490	011170	004020	001230	006650	003030
051910		0.88	0.73	0.82	0.71	0.79	0.09	051910
005490	0.88		0.65	0.78	0.78	0.76	0.2	005490
011170	0.73	0.65		0.81	0.76	0.84	-0.04	011170
004020	0.82	0.78	0.81		0.93	0.92	-0.14	004020
001230	0.71	0.78	0.76	0.93		0.89	-0.02	001230
006650	0.79	0.76	0.84	0.92	0.89		-0.02	006650
003030	0.09	0.2	-0.04	-0.14	-0.02	-0.02		003030
	051910	005490	011170	004020	001230	006650	003030

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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

001230	+ 0.93	004020
006650	+ 0.92	004020
006650	+ 0.89	001230
005490	+ 0.88	051910
006650	+ 0.84	011170
004020	+ 0.82	051910

High negative correlations

003030	- 0.14	004020
003030	- 0.04	011170
003030	- 0.02	006650
003030	- 0.02	001230

Risk-Adjusted Indicators

There is a big difference between Namhae Stock performing well and Namhae 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 Namhae 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
051910	1.80	0.06	(0.04)	(0.15)	2.22	(2.02)	5.12	(3.78)	14.51
005490	2.10	(0.05)	0.00	0.24	0.00	0.00	4.82	(3.65)	17.75
011170	2.66	(0.27)	0.00	5.92	0.00	0.00	5.83	(8.14)	21.38
004020	1.39	(0.25)	0.00	2.85	0.00	0.00	3.12	(3.69)	12.58
001230	0.65	(0.13)	0.00	1.65	0.00	0.00	1.40	(1.86)	5.60
006650	2.35	(0.23)	0.00	(0.86)	0.00	0.00	5.40	(4.55)	15.91
003030	2.28	(0.03)	(0.02)	0.08	2.80	(2.35)	4.71	(4.40)	14.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in Namhae 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.

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