Sang A Correlations

089980 Stock

KRW 19,520 110.00 0.57%

The correlation of Sang A 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.

Sang A Correlation With Market

Significant diversification

The correlation between Sang A Frontec CoLtd and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sang A Frontec CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sang Stock

0.84	005930	Samsung Electronics	Pair Corr
0.8	005935	Samsung Electronics	Pair Corr
0.89	005380	Hyundai Motor	Pair Corr
0.9	005385	Hyundai Motor	Pair Corr
0.87	005387	Hyundai Motor	Pair Corr
0.82	066570	LG Electronics	Pair Corr

Related Correlations Analysis

	110990	041020	044960	084370	094940	023590	098460	085670
110990		-0.39	0.57	0.78	0.24	0.29	0.91	0.68	110990
041020	-0.39		-0.38	-0.27	0.42	0.02	-0.44	-0.31	041020
044960	0.57	-0.38		0.53	0.06	0.68	0.78	0.67	044960
084370	0.78	-0.27	0.53		0.07	0.34	0.76	0.5	084370
094940	0.24	0.42	0.06	0.07		0.26	0.1	0.27	094940
023590	0.29	0.02	0.68	0.34	0.26		0.45	0.63	023590
098460	0.91	-0.44	0.78	0.76	0.1	0.45		0.7	098460
085670	0.68	-0.31	0.67	0.5	0.27	0.63	0.7		085670
	110990	041020	044960	084370	094940	023590	098460	085670

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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

098460	+ 0.91	110990
084370	+ 0.78	110990
098460	+ 0.78	044960
098460	+ 0.76	084370
085670	+ 0.7	098460
085670	+ 0.68	110990

High negative correlations

098460	- 0.44	041020
041020	- 0.39	110990
044960	- 0.38	041020
085670	- 0.31	041020
084370	- 0.27	041020

Risk-Adjusted Indicators

There is a big difference between Sang Stock performing well and Sang A 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 Sang A'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
110990	3.03	(0.11)	0.00	0.55	0.00	0.00	6.00	(5.91)	18.99
041020	3.09	0.20	0.05	3.11	3.32	(3.72)	6.79	(6.53)	25.39
044960	1.32	0.01	(0.01)	0.09	1.90	(1.38)	2.67	(3.12)	10.52
084370	2.30	(0.08)	0.00	(0.08)	0.00	0.00	5.68	(4.31)	16.94
094940	2.27	0.25	0.09	0.50	2.50	(2.93)	5.71	(4.75)	24.90
023590	0.77	0.06	0.03	(0.51)	1.06	(0.81)	1.77	(1.61)	6.18
098460	1.90	(0.20)	0.00	0.77	0.00	0.00	3.71	(4.87)	11.81
085670	3.10	0.34	0.09	(1.49)	3.11	(3.53)	7.17	(4.63)	30.90

Be your own money manager

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