Alton Sports Correlations

123750 Stock

KRW 1,444 4.00 0.28%

The current 90-days correlation between Alton Sports CoLtd and Nable Communications is -0.49 (i.e., Very good diversification). The correlation of Alton Sports 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.

Alton Sports Correlation With Market

Significant diversification

The correlation between Alton Sports CoLtd and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alton Sports CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Alton Stock

0.74	302440	SK Bioscience	Pair Corr
0.64	006920	MohenzCoLtd	Pair Corr

Related Correlations Analysis

	153460	192400	129920	020180	002700	066570	066575	009140
153460		-0.6	0.18	0.2	0.18	0.04	-0.31	0.68	153460
192400	-0.6		-0.11	-0.1	-0.5	0.08	0.31	-0.17	192400
129920	0.18	-0.11		0.85	0.5	0.45	0.57	0.26	129920
020180	0.2	-0.1	0.85		0.43	0.59	0.64	0.28	020180
002700	0.18	-0.5	0.5	0.43		0.25	0.32	0.12	002700
066570	0.04	0.08	0.45	0.59	0.25		0.82	0.3	066570
066575	-0.31	0.31	0.57	0.64	0.32	0.82		0.01	066575
009140	0.68	-0.17	0.26	0.28	0.12	0.3	0.01		009140
	153460	192400	129920	020180	002700	066570	066575	009140

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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

020180	+ 0.85	129920
066575	+ 0.82	066570
009140	+ 0.68	153460
066575	+ 0.64	020180
066570	+ 0.59	020180
066575	+ 0.57	129920

High negative correlations

192400	- 0.6	153460
002700	- 0.5	192400
066575	- 0.31	153460
009140	- 0.17	192400
129920	- 0.11	192400
020180	- 0.1	192400

Risk-Adjusted Indicators

There is a big difference between Alton Stock performing well and Alton Sports 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 Alton Sports' 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
153460	0.74	(0.10)	0.00	0.65	0.00	0.00	2.07	(1.85)	5.78
192400	1.42	0.10	(0.04)	(0.15)	1.54	(1.80)	4.43	(2.93)	10.44
129920	2.19	(0.30)	0.00	(2.08)	0.00	0.00	4.13	(4.58)	12.44
020180	0.85	(0.14)	0.00	(0.39)	0.00	0.00	1.70	(1.89)	5.57
002700	0.76	(0.05)	0.00	(0.13)	0.00	0.00	1.96	(1.99)	4.91
066570	1.43	(0.03)	0.00	2.35	0.00	0.00	2.82	(3.17)	11.85
066575	1.24	(0.03)	(0.08)	(0.04)	1.56	(1.32)	2.83	(2.71)	8.94
009140	0.67	(0.04)	0.00	0.90	0.00	0.00	1.46	(1.44)	3.71

Be your own money manager

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