Hanwha Life Correlations

088350 Stock

2,490 25.00 0.99%

The current 90-days correlation between Hanwha Life Insurance and Hanshin Construction Co is 0.04 (i.e., Significant diversification). The correlation of Hanwha Life 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.

Hanwha Life Correlation With Market

Good diversification

The correlation between Hanwha Life Insurance and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hanwha Life Insurance and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hanwha Stock

0.68	293780	AptaBio Therapeutics	Pair Corr
0.7	147760	Microfriend	Pair Corr
0.77	302430	Innometry	Pair Corr
0.87	033240	Jahwa Electron	Pair Corr
0.7	053080	Wonbang Tech	Pair Corr

Moving against Hanwha Stock

0.31

215480

Daewoo SBI SPAC

Pair Corr

Related Correlations Analysis

	004960	000400	034300	332570	006360	088350	003230	032830
004960		0.33	-0.31	-0.56	0.53	0.48	-0.64	0.61	004960
000400	0.33		0.5	0.02	0.08	0.78	-0.37	0.26	000400
034300	-0.31	0.5		0.63	-0.42	0.22	0.21	-0.48	034300
332570	-0.56	0.02	0.63		-0.52	-0.33	0.58	-0.81	332570
006360	0.53	0.08	-0.42	-0.52		0.24	-0.42	0.69	006360
088350	0.48	0.78	0.22	-0.33	0.24		-0.78	0.59	088350
003230	-0.64	-0.37	0.21	0.58	-0.42	-0.78		-0.69	003230
032830	0.61	0.26	-0.48	-0.81	0.69	0.59	-0.69		032830
	004960	000400	034300	332570	006360	088350	003230	032830

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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

088350	+ 0.78	000400
032830	+ 0.69	006360
332570	+ 0.63	034300
032830	+ 0.61	004960
032830	+ 0.59	088350
003230	+ 0.58	332570

High negative correlations

032830	- 0.81	332570
003230	- 0.78	088350
032830	- 0.69	003230
003230	- 0.64	004960
332570	- 0.56	004960
006360	- 0.52	332570

Risk-Adjusted Indicators

There is a big difference between Hanwha Stock performing well and Hanwha Life 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 Hanwha Life'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
004960	1.62	(0.09)	0.00	(0.48)	0.00	0.00	2.60	(4.43)	17.54
000400	1.62	(0.19)	0.00	(3.09)	0.00	0.00	3.39	(3.61)	14.28
034300	0.05	(0.01)	0.00	(3.50)	0.00	0.00	0.11	(0.11)	0.66
332570	2.59	0.70	0.29	1.51	1.80	(3.50)	6.14	(4.02)	11.63
006360	1.75	(0.08)	0.00	(0.38)	0.00	0.00	3.62	(3.40)	12.29
088350	1.28	(0.24)	0.00	4.07	0.00	0.00	2.38	(3.45)	9.06
003230	2.26	0.00	0.21	0.00	1.79	(3.11)	6.11	(3.40)	17.57
032830	1.76	(0.22)	0.00	0.45	0.00	0.00	2.81	(3.68)	16.38

Be your own money manager

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