ITM Semiconductor Correlations

084850 Stock

KRW 12,780 180.00 1.39%

The current 90-days correlation between ITM Semiconductor and LX Semicon Co is 0.35 (i.e., Weak diversification). The correlation of ITM Semiconductor 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.

ITM Semiconductor Correlation With Market

Significant diversification

The correlation between ITM Semiconductor Co 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 ITM Semiconductor Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ITM Stock

0.83	064760	Tokai Carbon Korea	Pair Corr
0.96	137400	People Technology	Pair Corr
0.71	166090	Hana Materials	Pair Corr
0.88	222800	SIMMTECH	Pair Corr
0.88	048550	SM Culture Contents	Pair Corr
0.71	006910	Bosung Power Technology	Pair Corr

Moving against ITM Stock

0.78	078160	MEDIPOST	Pair Corr
0.65	101490	SS TECH Earnings Call This Week	Pair Corr

Related Correlations Analysis

	000660	108320	064760	137400	166090	222800	195870	084850	082270	101490
000660		0.71	0.51	0.19	0.7	0.46	0.75	0.11	0.23	0.49	000660
108320	0.71		0.7	0.47	0.81	0.72	0.8	0.39	0.12	0.13	108320
064760	0.51	0.7		0.83	0.92	0.97	0.83	0.83	0.11	-0.23	064760
137400	0.19	0.47	0.83		0.76	0.89	0.53	0.96	-0.04	-0.57	137400
166090	0.7	0.81	0.92	0.76		0.93	0.88	0.71	0.14	-0.05	166090
222800	0.46	0.72	0.97	0.89	0.93		0.79	0.88	0.03	-0.32	222800
195870	0.75	0.8	0.83	0.53	0.88	0.79		0.49	0.3	0.19	195870
084850	0.11	0.39	0.83	0.96	0.71	0.88	0.49		-0.1	-0.65	084850
082270	0.23	0.12	0.11	-0.04	0.14	0.03	0.3	-0.1		0.39	082270
101490	0.49	0.13	-0.23	-0.57	-0.05	-0.32	0.19	-0.65	0.39		101490
	000660	108320	064760	137400	166090	222800	195870	084850	082270	101490

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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

222800	+ 0.97	064760
084850	+ 0.96	137400
222800	+ 0.93	166090
166090	+ 0.92	064760
222800	+ 0.89	137400
195870	+ 0.88	166090

High negative correlations

101490	- 0.65	084850
101490	- 0.57	137400
101490	- 0.32	222800
101490	- 0.23	064760
082270	- 0.1	084850
101490	- 0.05	166090

Risk-Adjusted Indicators

There is a big difference between ITM Stock performing well and ITM Semiconductor 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 ITM Semiconductor'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
000660	2.42	0.31	0.10	0.97	2.59	(2.73)	5.95	(4.52)	14.36
108320	1.54	(0.01)	0.00	0.07	0.00	0.00	4.17	(3.68)	10.46
064760	1.74	(0.21)	0.00	0.97	0.00	0.00	4.43	(3.23)	11.10
137400	2.59	(0.34)	0.00	1.79	0.00	0.00	4.93	(5.78)	15.62
166090	2.28	(0.11)	0.00	0.40	0.00	0.00	4.56	(3.49)	12.51
222800	2.46	(0.39)	0.00	0.69	0.00	0.00	4.53	(4.65)	12.25
195870	2.74	(0.07)	0.00	0.25	0.00	0.00	5.14	(5.08)	13.59
084850	1.92	(0.52)	0.00	(16.17)	0.00	0.00	3.93	(5.10)	10.34
082270	4.82	(0.13)	0.00	(0.12)	0.00	0.00	8.98	(8.06)	33.24
101490	2.52	0.50	0.17	(1.02)	2.27	(2.98)	7.27	(4.64)	13.14

Be your own money manager

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