088340 Correlations
| 088340 Stock | 13,630 120.00 0.87% |
The correlation of 088340 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.
088340 Correlation With Market
Pay attention - limited upside
The correlation between 088340 and DJI is -0.81 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 088340 and DJI in the same portfolio, assuming nothing else is changed.
088340 |
The ability to find closely correlated positions to 088340 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 088340 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 088340 - 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 088340 to buy it.
Moving together with 088340 Stock
Moving against 088340 Stock
| 0.63 | 001530 | Dong Il Corp Split | PairCorr |
| 0.61 | 203400 | Abion Inc Split | PairCorr |
| 0.56 | 005935 | Samsung Electronics | PairCorr |
| 0.54 | 005930 | Samsung Electronics | PairCorr |
| 0.51 | 058730 | Dong A Steel | PairCorr |
| 0.51 | 389020 | Zaram Technology | PairCorr |
| 0.49 | 000660 | SK Hynix | PairCorr |
| 0.48 | 104200 | NHN Bugs Corp | PairCorr |
| 0.48 | 122870 | YG Entertainment Earnings Call Today | PairCorr |
| 0.47 | 033240 | Jahwa Electron | PairCorr |
| 0.45 | 005387 | Hyundai Motor | PairCorr |
| 0.45 | 103140 | Poongsan | PairCorr |
| 0.44 | 005385 | Hyundai Motor | PairCorr |
| 0.34 | 006800 | Mirae Asset Daewoo | PairCorr |
| 0.72 | 002920 | Yoosung Enterprise | PairCorr |
| 0.71 | 100660 | Seoam Machinery Industry | PairCorr |
| 0.7 | 011210 | Hyundai Wia | PairCorr |
| 0.63 | 154040 | Solueta | PairCorr |
| 0.61 | 048770 | TPC Mechatronics | PairCorr |
| 0.56 | 025950 | Dongsin Engineering | PairCorr |
| 0.52 | 011390 | Busan Ind | PairCorr |
| 0.5 | 472850 | 472850 Split | PairCorr |
| 0.48 | 019540 | Ilji Technology | PairCorr |
| 0.43 | 241560 | Doosan Bobcat | PairCorr |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between 088340 Stock performing well and 088340 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 088340'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 073570 | 2.53 | (0.38) | 0.00 | 0.67 | 0.00 | 4.82 | 40.46 | |||
| 199480 | 2.28 | (0.18) | 0.00 | 0.80 | 0.00 | 4.55 | 19.15 | |||
| 082210 | 2.61 | 0.53 | 0.20 | 0.85 | 2.07 | 7.25 | 13.41 | |||
| 431190 | 2.59 | (0.32) | 0.00 | (55.82) | 0.00 | 6.07 | 25.26 |
088340 Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with 088340 stock to make a market-neutral strategy. Peer analysis of 088340 could also be used in its relative valuation, which is a method of valuing 088340 by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |