Display Tech Correlations

066670 Stock

KRW 2,970 45.00 1.49%

The current 90-days correlation between Display Tech and Kangstem Biotech Co is -0.05 (i.e., Good diversification). The correlation of Display Tech 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.

Display Tech Correlation With Market

Modest diversification

The correlation between Display Tech Co and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Display Tech Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Display Stock

0.63	317530	Carriesoft	Pair Corr
0.7	099440	Smec CoLtd	Pair Corr

Moving against Display Stock

0.42	373220	LG Energy Solution	Pair Corr
0.42	088290	Ewon Comfortech	Pair Corr
0.37	006400	Samsung SDI	Pair Corr
0.33	254490	Mirai Semiconductors	Pair Corr
0.52	194480	Devsisters corporation	Pair Corr
0.46	063170	Seoul Auction	Pair Corr
0.32	039610	HS Valve	Pair Corr

Related Correlations Analysis

	217730	246690	030210	041190	309960	005610	101530
217730		0.15	0.4	-0.57	0.49	-0.35	0.74	217730
246690	0.15		0.74	0.13	0.72	0.03	0.29	246690
030210	0.4	0.74		0.15	0.83	-0.24	0.42	030210
041190	-0.57	0.13	0.15		-0.16	-0.18	-0.51	041190
309960	0.49	0.72	0.83	-0.16		0.03	0.66	309960
005610	-0.35	0.03	-0.24	-0.18	0.03		0.1	005610
101530	0.74	0.29	0.42	-0.51	0.66	0.1		101530
	217730	246690	030210	041190	309960	005610	101530

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

309960	+ 0.83	030210
101530	+ 0.74	217730
030210	+ 0.74	246690
309960	+ 0.72	246690
101530	+ 0.66	309960
309960	+ 0.49	217730

High negative correlations

041190	- 0.57	217730
101530	- 0.51	041190
005610	- 0.35	217730
005610	- 0.24	030210
005610	- 0.18	041190
309960	- 0.16	041190

Risk-Adjusted Indicators

There is a big difference between Display Stock performing well and Display Tech 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 Display Tech'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
217730	2.76	0.60	0.18	15.07	2.61	(3.34)	6.83	(4.61)	18.05
246690	2.50	0.39	0.12	(0.41)	2.48	(3.02)	5.34	(4.38)	34.83
030210	1.67	0.32	0.12	(1.73)	1.88	(2.04)	4.99	(3.74)	12.78
041190	2.50	(0.12)	0.00	(0.44)	0.00	0.00	6.48	(5.01)	19.59
309960	2.46	0.49	0.16	(1.07)	2.24	(2.98)	5.83	(3.50)	23.58
005610	0.83	0.00	(0.04)	0.06	0.96	(0.91)	1.79	(1.69)	5.61
101530	1.52	0.20	0.10	1.15	1.43	(1.77)	3.13	(2.46)	9.34

Be your own money manager

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