Keum Kang Correlations

053260 Stock

KRW 4,265 45.00 1.04%

The current 90-days correlation between Keum Kang Steel and Koryo Credit Information is -0.12 (i.e., Good diversification). The correlation of Keum Kang 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.

Keum Kang Correlation With Market

Good diversification

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

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

Moving together with Keum Stock

0.76	009830	Hanwha Solutions	Pair Corr
0.79	004020	Hyundai Steel	Pair Corr
0.71	086520	Ecopro	Pair Corr
0.82	001230	Dongkuk Steel Mill	Pair Corr
0.7	006650	Korea Petro Chemical	Pair Corr
0.69	005935	Samsung Electronics	Pair Corr
0.68	005930	Samsung Electronics	Pair Corr
0.78	005380	Hyundai Motor	Pair Corr
0.65	005385	Hyundai Motor	Pair Corr

Moving against Keum Stock

0.68

001430

SeAH Bestee

Pair Corr

Related Correlations Analysis

	006890	004000	049720	003080	035510	039740	134380	014530
006890		0.28	0.35	0.51	0.2	0.44	0.2	0.41	006890
004000	0.28		0.65	0.72	0.37	0.43	0.58	0.5	004000
049720	0.35	0.65		0.53	-0.17	0.19	0.36	0.36	049720
003080	0.51	0.72	0.53		0.24	0.48	0.6	0.46	003080
035510	0.2	0.37	-0.17	0.24		0.75	0.2	0.45	035510
039740	0.44	0.43	0.19	0.48	0.75		0.41	0.63	039740
134380	0.2	0.58	0.36	0.6	0.2	0.41		0.24	134380
014530	0.41	0.5	0.36	0.46	0.45	0.63	0.24		014530
	006890	004000	049720	003080	035510	039740	134380	014530

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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

039740	+ 0.75	035510
003080	+ 0.72	004000
049720	+ 0.65	004000
014530	+ 0.63	039740
134380	+ 0.6	003080
134380	+ 0.58	004000

High negative correlations

035510

- 0.17

049720

Risk-Adjusted Indicators

There is a big difference between Keum Stock performing well and Keum Kang 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 Keum Kang'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
006890	1.72	(0.08)	(0.35)	4.48	(3.17)	10.38
004000	1.80	(0.27)	(32.92)	3.56	(3.28)	13.50
049720	0.58	(0.08)	(3.62)	1.55	(1.35)	3.80
003080	0.63	(0.07)	(0.51)	0.96	(1.64)	6.58
035510	1.23	(0.03)	0.19	2.68	(2.49)	9.39
039740	1.05	(0.20)	1.75	1.54	(2.93)	6.89
134380	0.46	(0.04)	(0.32)	1.14	(1.00)	3.50
014530	0.77	(0.12)	6.51	1.20	(2.43)	8.21

Be your own money manager

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