Mgame Corp Correlations

058630 Stock

5,190 20.00 0.39%

The current 90-days correlation between Mgame Corp and Ssangyong Information Communication is 0.24 (i.e., Modest diversification). The correlation of Mgame Corp 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.

Mgame Corp Correlation With Market

Good diversification

The correlation between Mgame Corp and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mgame Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Mgame Stock

0.69	293780	AptaBio Therapeutics	Pair Corr
0.78	147760	Microfriend	Pair Corr
0.83	302430	Innometry	Pair Corr
0.85	033240	Jahwa Electron	Pair Corr
0.72	053080	Wonbang Tech	Pair Corr

Moving against Mgame Stock

0.87	035900	JYP Entertainment	Pair Corr
0.86	035900	JYP Entertainment Corp	Pair Corr
0.76	006040	Dongwon Ind	Pair Corr
0.75	078160	MEDIPOST	Pair Corr
0.67	402030	Konan Technology	Pair Corr
0.66	083650	BHI Co	Pair Corr
0.64	285490	NOVATECH	Pair Corr
0.53	031860	NSN Co	Pair Corr
0.32	203650	Dream Security co	Pair Corr

Related Correlations Analysis

	010280	014530	153460	137950	023450	002360	005300
010280		0.05	0.47	-0.49	0.39	0.35	-0.23	010280
014530	0.05		-0.51	0.71	0.61	0.3	-0.05	014530
153460	0.47	-0.51		-0.81	-0.15	-0.23	-0.01	153460
137950	-0.49	0.71	-0.81		0.18	0.11	0.2	137950
023450	0.39	0.61	-0.15	0.18		0.19	-0.53	023450
002360	0.35	0.3	-0.23	0.11	0.19		-0.25	002360
005300	-0.23	-0.05	-0.01	0.2	-0.53	-0.25		005300
	010280	014530	153460	137950	023450	002360	005300

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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

137950	+ 0.71	014530
023450	+ 0.61	014530
153460	+ 0.47	010280
023450	+ 0.39	010280
002360	+ 0.35	010280
002360	+ 0.3	014530

High negative correlations

137950	- 0.81	153460
005300	- 0.53	023450
153460	- 0.51	014530
137950	- 0.49	010280
005300	- 0.25	002360
002360	- 0.23	153460

Risk-Adjusted Indicators

There is a big difference between Mgame Stock performing well and Mgame Corp 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 Mgame Corp'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
010280	1.15	0.09	0.05	(0.54)	1.28	(1.36)	2.79	(2.12)	7.90
014530	0.85	(0.05)	0.00	1.43	0.00	0.00	1.85	(2.23)	7.57
153460	1.03	0.06	0.03	(0.61)	1.13	(1.69)	2.91	(2.47)	8.44
137950	2.01	(0.24)	0.00	2.02	0.00	0.00	4.68	(5.37)	20.86
023450	0.88	0.07	0.03	1.28	1.23	(1.24)	1.79	(1.60)	9.63
002360	2.12	0.09	0.03	0.13	2.53	(2.45)	6.82	(3.47)	16.69
005300	1.30	(0.27)	0.00	0.57	0.00	0.00	3.01	(3.02)	8.31

Be your own money manager

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