MEDICOX Correlations

054180 Stock

KRW 314.00 4.00 1.26%

The current 90-days correlation between MEDICOX and Formetal Co is 0.05 (i.e., Significant diversification). The correlation of MEDICOX 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.

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

Moving together with MEDICOX Stock

0.62	068240	Dawonsys CoLtd	Pair Corr
0.62	105560	KB Financial Group	Pair Corr
0.64	055550	Shinhan Financial	Pair Corr
0.63	005380	Hyundai Motor Earnings Call This Week	Pair Corr
0.66	005385	Hyundai Motor Earnings Call This Week	Pair Corr
0.67	005387	Hyundai Motor Earnings Call This Week	Pair Corr
0.64	316140	Woori Financial Group	Pair Corr
0.66	036460	Korea Gas	Pair Corr

Moving against MEDICOX Stock

0.53	078160	MEDIPOST	Pair Corr
0.51	006040	Dongwon Ind	Pair Corr
0.47	035900	JYP Entertainment	Pair Corr
0.47	035900	JYP Entertainment Corp	Pair Corr
0.43	031860	NSN Co	Pair Corr
0.4	285490	NOVATECH	Pair Corr
0.33	402030	Konan Technology	Pair Corr
0.31	083650	BHI Co	Pair Corr

Related Correlations Analysis

	460850	293490	119500	239890	251270	500008	058630
460850		-0.22	0.04	0.12	0.14	-0.76	0.55	460850
293490	-0.22		-0.05	0.16	0.6	0.19	-0.27	293490
119500	0.04	-0.05		0.52	-0.25	0.05	-0.43	119500
239890	0.12	0.16	0.52		-0.09	0.19	-0.46	239890
251270	0.14	0.6	-0.25	-0.09		-0.31	0.32	251270
500008	-0.76	0.19	0.05	0.19	-0.31		-0.66	500008
058630	0.55	-0.27	-0.43	-0.46	0.32	-0.66		058630
	460850	293490	119500	239890	251270	500008	058630

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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

251270	+ 0.6	293490
058630	+ 0.55	460850
239890	+ 0.52	119500
058630	+ 0.32	251270
500008	+ 0.19	293490
500008	+ 0.19	239890

High negative correlations

500008	- 0.76	460850
058630	- 0.66	500008
058630	- 0.46	239890
058630	- 0.43	119500
500008	- 0.31	251270
058630	- 0.27	293490

Risk-Adjusted Indicators

There is a big difference between MEDICOX Stock performing well and MEDICOX 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 MEDICOX'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
460850	1.20	(0.03)	0.00	(0.06)	0.00	0.00	2.55	(2.89)	9.30
293490	2.52	0.01	(0.01)	0.00	3.27	(2.46)	4.52	(5.03)	25.94
119500	2.69	0.50	0.20	(1.83)	2.02	(3.63)	9.56	(3.55)	23.23
239890	3.11	0.09	0.02	(0.11)	3.67	(3.63)	7.67	(5.33)	23.90
251270	2.09	(0.31)	0.00	0.58	0.00	0.00	3.75	(4.81)	13.52
500008	0.95	0.05	0.02	(0.34)	1.10	(1.01)	2.45	(1.67)	5.04
058630	2.23	(0.38)	0.00	0.55	0.00	0.00	3.83	(5.79)	19.91

Be your own money manager

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