LabGenomics Correlations

Stocks . Korea . 
Stock . LabGenomics Co
084650 Stock  KRW 1,542  3.00  0.19%   
The current 90-days correlation between LabGenomics and DRTECH is 0.22 (i.e., Modest diversification). The correlation of LabGenomics 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.

LabGenomics Correlation With Market

Pay attention - limited upside

The correlation between LabGenomics Co and DJI is -0.77 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LabGenomics Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to LabGenomics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LabGenomics 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 LabGenomics - 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 LabGenomics Co to buy it.

Moving against LabGenomics Stock

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Related Correlations Analysis


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

323990
+ 0.78
360070
299030
+ 0.7
360070
083310
+ 0.65
063170
299030
+ 0.64
323990
100130
+ 0.61
214680
366030
+ 0.45
214680
  

High negative correlations

083310
- 0.31
100130
063170
- 0.21
323990
063170
- 0.21
360070
083310
- 0.18
299030
083310
- 0.12
323990
083310
- 0.07
360070

Risk-Adjusted Indicators

There is a big difference between LabGenomics Stock performing well and LabGenomics 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 LabGenomics' 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.

Be your own money manager

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