Daewon Media Correlations

048910 Stock

KRW 7,510 60.00 0.81%

The current 90-days correlation between Daewon Media and Hankuk Steel Wire is 0.33 (i.e., Weak diversification). The correlation of Daewon Media 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.

Daewon Media Correlation With Market

Very good diversification

The correlation between Daewon Media Co and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Daewon Media Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Daewon Stock

0.87	336260	Doosan Fuel Cell	Pair Corr
0.76	217270	Daishin Balance 1	Pair Corr
0.8	293780	AptaBio Therapeutics	Pair Corr
0.81	215480	Daewoo SBI SPAC	Pair Corr
0.71	187870	DeviceENGCOLtd	Pair Corr
0.79	050960	SOOSAN INT	Pair Corr
0.92	106240	Finetechnix CoLtd	Pair Corr

Related Correlations Analysis

	025550	005430	306200	003230	008260	023790	020560	003490
025550		0.06	0.66	-0.26	0.3	-0.01	-0.06	-0.53	025550
005430	0.06		0.42	0.56	-0.22	0.17	0.51	0.37	005430
306200	0.66	0.42		0.12	0.03	0.08	0.18	-0.19	306200
003230	-0.26	0.56	0.12		-0.13	0.27	0.19	0.36	003230
008260	0.3	-0.22	0.03	-0.13		0.58	-0.25	-0.44	008260
023790	-0.01	0.17	0.08	0.27	0.58		-0.28	-0.21	023790
020560	-0.06	0.51	0.18	0.19	-0.25	-0.28		0.68	020560
003490	-0.53	0.37	-0.19	0.36	-0.44	-0.21	0.68		003490
	025550	005430	306200	003230	008260	023790	020560	003490

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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

003490	+ 0.68	020560
306200	+ 0.66	025550
023790	+ 0.58	008260
003230	+ 0.56	005430
020560	+ 0.51	005430
306200	+ 0.42	005430

High negative correlations

003490	- 0.53	025550
003490	- 0.44	008260
020560	- 0.28	023790
003230	- 0.26	025550
020560	- 0.25	008260
008260	- 0.22	005430

Risk-Adjusted Indicators

There is a big difference between Daewon Stock performing well and Daewon Media 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 Daewon Media'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
025550	1.01	(0.03)	0.00	(0.40)	0.00	0.00	1.75	(2.09)	5.43
005430	1.65	0.04	0.00	0.03	0.00	0.00	3.96	(2.94)	9.77
306200	1.04	(0.05)	0.00	(0.11)	0.00	0.00	2.56	(1.96)	7.87
003230	2.24	(0.08)	0.00	0.35	0.00	0.00	5.59	(4.30)	17.04
008260	1.32	0.05	(0.04)	(0.14)	1.51	(1.65)	2.51	(2.33)	12.72
023790	1.05	(0.04)	0.00	(0.22)	0.00	0.00	2.52	(1.99)	7.00
020560	1.35	0.19	0.03	(0.27)	1.23	(1.87)	3.77	(2.35)	9.63
003490	1.11	0.26	0.12	(1.12)	0.92	(1.43)	2.60	(1.63)	7.46

Be your own money manager

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