Spolytech Correlations

050760 Stock

KRW 1,517 11.00 0.72%

The current 90-days correlation between Spolytech and Woori Technology is 0.25 (i.e., Modest diversification). The correlation of Spolytech 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.

Spolytech Correlation With Market

Significant diversification

The correlation between Spolytech Co 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 Spolytech Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Spolytech Stock

0.63	005490	POSCO Holdings	Pair Corr
0.83	009830	Hanwha Solutions Earnings Call This Week	Pair Corr
0.72	011170	Lotte Chemical Corp Earnings Call This Week	Pair Corr
0.86	004020	Hyundai Steel	Pair Corr
0.73	001230	Dongkuk Steel Mill Earnings Call This Week	Pair Corr
0.82	006650	Korea Petro Chemical	Pair Corr
0.79	034730	SK Holdings Earnings Call This Week	Pair Corr

Related Correlations Analysis

	032820	068290	137080	093920	418420	114090	046120	020760
032820		-0.72	-0.71	-0.01	-0.35	-0.21	0.84	0.36	032820
068290	-0.72		0.62	0.14	0.5	0.49	-0.43	0.04	068290
137080	-0.71	0.62		0.34	0.69	0.25	-0.54	-0.17	137080
093920	-0.01	0.14	0.34		0.75	0.31	0.11	0.43	093920
418420	-0.35	0.5	0.69	0.75		0.48	-0.01	0.33	418420
114090	-0.21	0.49	0.25	0.31	0.48		0.11	0.32	114090
046120	0.84	-0.43	-0.54	0.11	-0.01	0.11		0.59	046120
020760	0.36	0.04	-0.17	0.43	0.33	0.32	0.59		020760
	032820	068290	137080	093920	418420	114090	046120	020760

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

046120	+ 0.84	032820
418420	+ 0.75	093920
418420	+ 0.69	137080
137080	+ 0.62	068290
020760	+ 0.59	046120
418420	+ 0.5	068290

High negative correlations

068290	- 0.72	032820
137080	- 0.71	032820
046120	- 0.54	137080
046120	- 0.43	068290
418420	- 0.35	032820
114090	- 0.21	032820

Risk-Adjusted Indicators

There is a big difference between Spolytech Stock performing well and Spolytech 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 Spolytech'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
032820	2.39	(0.16)	0.00	(0.18)	0.00	0.00	4.96	(4.82)	19.31
068290	1.89	0.16	0.02	(0.93)	2.12	(2.23)	5.67	(3.07)	16.21
137080	3.03	0.07	(0.02)	(0.03)	3.76	(3.15)	5.57	(5.18)	20.25
093920	0.61	0.00	(0.10)	0.00	0.78	(0.78)	1.23	(1.46)	5.24
418420	3.04	(0.02)	0.00	0.18	0.00	0.00	7.02	(5.24)	14.95
114090	1.28	0.14	0.03	0.86	1.84	(1.30)	2.63	(2.95)	11.55
046120	2.37	(0.02)	(0.01)	0.06	3.46	(2.23)	5.86	(6.00)	17.66
020760	1.21	(0.06)	0.00	(0.29)	0.00	0.00	3.07	(2.38)	8.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in Spolytech 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 Portfolio Suggestion Now

Portfolio Suggestion

Get suggestions outside of your existing asset allocation including your own model portfolios

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