Atec Correlations

045660 Stock

KRW 25,800 600.00 2.27%

The current 90-days correlation between Atec and Formetal Co is 0.22 (i.e., Modest diversification). The correlation of Atec 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.

Atec Correlation With Market

Good diversification

The correlation between Atec Co and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atec Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Atec Stock

0.97	025950	Dongsin Engineering	Pair Corr
0.99	045340	Total Soft Bank	Pair Corr
0.61	241840	ASTORY CoLtd	Pair Corr
0.7	215480	Daewoo SBI SPAC	Pair Corr
0.97	050960	SOOSAN INT	Pair Corr

Moving against Atec Stock

0.7	187870	DeviceENGCOLtd	Pair Corr
0.33	293780	AptaBio Therapeutics	Pair Corr

Related Correlations Analysis

	119500	092300	120240	058470	019770	360070	004255
119500		0.22	0.39	0.83	-0.34	-0.32	-0.43	119500
092300	0.22		0.89	0.51	0.37	0.67	0.62	092300
120240	0.39	0.89		0.66	0.3	0.54	0.52	120240
058470	0.83	0.51	0.66		-0.27	-0.17	-0.07	058470
019770	-0.34	0.37	0.3	-0.27		0.73	0.38	019770
360070	-0.32	0.67	0.54	-0.17	0.73		0.68	360070
004255	-0.43	0.62	0.52	-0.07	0.38	0.68		004255
	119500	092300	120240	058470	019770	360070	004255

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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

120240	+ 0.89	092300
058470	+ 0.83	119500
360070	+ 0.73	019770
004255	+ 0.68	360070
360070	+ 0.67	092300
058470	+ 0.66	120240

High negative correlations

004255	- 0.43	119500
019770	- 0.34	119500
360070	- 0.32	119500
019770	- 0.27	058470
360070	- 0.17	058470
004255	- 0.07	058470

Risk-Adjusted Indicators

There is a big difference between Atec Stock performing well and Atec 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 Atec'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
119500	2.69	0.52	0.17	(4.24)	2.02	(3.52)	9.56	(3.55)	23.23
092300	1.83	(0.10)	0.00	(0.59)	0.00	0.00	4.16	(3.89)	12.17
120240	1.20	0.01	(0.05)	(0.01)	1.77	(1.15)	2.40	(2.54)	9.40
058470	2.27	0.35	0.08	(1.63)	2.36	(2.39)	6.04	(3.83)	9.88
019770	1.48	(0.02)	(0.03)	0.04	2.09	(1.55)	2.91	(3.30)	16.87
360070	2.72	(0.26)	0.00	(2.09)	0.00	0.00	5.93	(5.34)	17.32
004255	0.89	(0.15)	0.00	(2.23)	0.00	0.00	2.05	(2.23)	7.27

Be your own money manager

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