Hanmi Semicon Correlations

042700 Stock

76,900 300.00 0.39%

The current 90-days correlation between Hanmi Semicon and Nice Information Telecommunication is 0.38 (i.e., Weak diversification). The correlation of Hanmi Semicon 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.

Hanmi Semicon Correlation With Market

Significant diversification

The correlation between Hanmi Semicon and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hanmi Semicon and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hanmi Stock

0.72	005935	Samsung Electronics	Pair Corr
0.74	005930	Samsung Electronics	Pair Corr
0.65	051910	LG Chemicals	Pair Corr
0.75	006400	Samsung SDI	Pair Corr
0.64	005387	Hyundai Motor	Pair Corr
0.72	005385	Hyundai Motor	Pair Corr

Related Correlations Analysis

	036800	060370	286940	246960	036120	030190	035460	033050
036800		0.81	0.87	0.77	0.78	-0.64	0.47	-0.15	036800
060370	0.81		0.77	0.86	0.81	-0.65	0.34	-0.1	060370
286940	0.87	0.77		0.78	0.66	-0.56	0.54	-0.16	286940
246960	0.77	0.86	0.78		0.8	-0.65	0.46	-0.38	246960
036120	0.78	0.81	0.66	0.8		-0.8	0.27	-0.42	036120
030190	-0.64	-0.65	-0.56	-0.65	-0.8		0.01	0.47	030190
035460	0.47	0.34	0.54	0.46	0.27	0.01		-0.04	035460
033050	-0.15	-0.1	-0.16	-0.38	-0.42	0.47	-0.04		033050
	036800	060370	286940	246960	036120	030190	035460	033050

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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

286940	+ 0.87	036800
246960	+ 0.86	060370
060370	+ 0.81	036800
036120	+ 0.81	060370
036120	+ 0.8	246960
036120	+ 0.78	036800

High negative correlations

030190	- 0.8	036120
030190	- 0.65	246960
030190	- 0.65	060370
030190	- 0.64	036800
030190	- 0.56	286940
033050	- 0.42	036120

Risk-Adjusted Indicators

There is a big difference between Hanmi Stock performing well and Hanmi Semicon 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 Hanmi Semicon'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
036800	0.41	(0.12)	0.00	(1.19)	0.00	0.00	0.80	(0.87)	2.94
060370	2.26	(0.64)	0.00	(0.40)	0.00	0.00	4.61	(4.15)	22.40
286940	2.09	(0.35)	0.00	0.67	0.00	0.00	4.04	(5.96)	23.89
246960	1.10	(0.12)	0.00	0.67	0.00	0.00	2.99	(2.30)	7.15
036120	1.86	(0.31)	0.00	0.86	0.00	0.00	3.04	(5.24)	14.61
030190	1.36	0.30	0.07	(0.51)	1.47	(1.49)	3.51	(2.47)	8.79
035460	1.16	(0.07)	0.00	(15.90)	0.00	0.00	2.19	(2.96)	12.73
033050	0.85	(0.01)	0.00	(0.67)	0.00	0.00	2.06	(1.92)	6.24

Hanmi Semicon 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 Hanmi Semicon stock to make a market-neutral strategy. Peer analysis of Hanmi Semicon could also be used in its relative valuation, which is a method of valuing Hanmi Semicon by comparing valuation metrics with similar companies.

Nice Information Telecommunication KT Submarine Telecom Lotte Data Communication InnoTherapy SCI Information Service NICE Information Service Kisan Telecom Co Jeong Moon Information American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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