Daehan Steel Correlations

084010 Stock

16,550 40.00 0.24%

The current 90-days correlation between Daehan Steel and DONGKUK STEEL MILL is 0.25 (i.e., Modest diversification). The correlation of Daehan Steel 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.

Daehan Steel Correlation With Market

Significant diversification

The correlation between Daehan Steel and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Daehan Steel and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Daehan Stock

0.63	003030	Seah Steel Corp	Pair Corr
0.73	000270	Kia Corp	Pair Corr

Moving against Daehan Stock

0.9	005490	POSCO Holdings	Pair Corr
0.88	051910	LG Chemicals	Pair Corr
0.84	011170	Lotte Chemical Corp Earnings Call This Week	Pair Corr
0.74	086520	Ecopro Earnings Call This Week	Pair Corr
0.73	006650	Korea Petro Chemical	Pair Corr
0.72	066570	LG Electronics	Pair Corr
0.69	001230	Dongkuk Steel Mill Earnings Call This Week	Pair Corr
0.66	004020	Hyundai Steel	Pair Corr
0.65	005935	Samsung Electronics	Pair Corr
0.62	105560	KB Financial Group Earnings Call This Week	Pair Corr
0.6	005387	Hyundai Motor	Pair Corr
0.53	009830	Hanwha Solutions Earnings Call This Week	Pair Corr
0.53	005930	Samsung Electronics	Pair Corr
0.53	005385	Hyundai Motor	Pair Corr
0.45	034730	SK Holdings Earnings Call This Week	Pair Corr
0.36	005380	Hyundai Motor	Pair Corr

Related Correlations Analysis

	460860	017480	149980	084010	003080	001430	009540	133820
460860		-0.04	0.47	-0.19	0.36	-0.09	-0.04	-0.09	460860
017480	-0.04		0.5	0.31	0.48	-0.45	0.6	-0.25	017480
149980	0.47	0.5		-0.18	0.38	-0.32	0.07	-0.3	149980
084010	-0.19	0.31	-0.18		0.12	-0.29	0.74	0.46	084010
003080	0.36	0.48	0.38	0.12		-0.55	0.57	-0.39	003080
001430	-0.09	-0.45	-0.32	-0.29	-0.55		-0.45	0.45	001430
009540	-0.04	0.6	0.07	0.74	0.57	-0.45		0.21	009540
133820	-0.09	-0.25	-0.3	0.46	-0.39	0.45	0.21		133820
	460860	017480	149980	084010	003080	001430	009540	133820

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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

009540	+ 0.74	084010
009540	+ 0.6	017480
009540	+ 0.57	003080
149980	+ 0.5	017480
003080	+ 0.48	017480
149980	+ 0.47	460860

High negative correlations

001430	- 0.55	003080
009540	- 0.45	001430
001430	- 0.45	017480
133820	- 0.39	003080
001430	- 0.32	149980
133820	- 0.3	149980

Risk-Adjusted Indicators

There is a big difference between Daehan Stock performing well and Daehan Steel 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 Daehan Steel'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
460860	1.45	0.04	(0.01)	0.21	2.33	(1.31)	2.83	(4.05)	11.30
017480	0.91	(0.04)	0.00	0.18	0.00	0.00	2.06	(2.34)	5.71
149980	2.44	0.01	(0.02)	0.00	3.51	(2.45)	4.75	(6.19)	17.13
084010	1.04	0.30	0.16	20.84	0.93	(1.26)	2.31	(2.29)	14.87
003080	0.53	0.04	(0.08)	(0.12)	0.65	(0.68)	1.20	(1.37)	5.24
001430	2.16	0.12	(0.01)	(0.08)	2.40	(2.81)	5.02	(5.20)	28.37
009540	2.08	0.27	0.07	10.64	2.12	(2.56)	6.03	(3.46)	14.46
133820	2.37	0.34	0.13	0.63	2.18	(3.08)	5.51	(4.37)	25.82

Be your own money manager

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