Itcen Co Correlations

Stocks . Korea . 
Stock . Itcen Co
124500 Stock  KRW 5,670  180.00  3.28%   
The current 90-days correlation between Itcen Co and Nam Hwa Construction is -0.07 (i.e., Good diversification). The correlation of Itcen Co 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.
  
The ability to find closely correlated positions to Itcen Co could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Itcen Co 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 Itcen Co - 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 Itcen Co to buy it.

Moving together with Itcen Stock

  0.64000660 SK HynixPairCorr
  0.74227100 DesignPairCorr

Moving against Itcen Stock

  0.55032640 LG UplusPairCorr
  0.47039240 Gyeongnam SteelPairCorr
  0.47078160 MEDIPOSTPairCorr
  0.38241840 ASTORY CoLtdPairCorr
  0.7153460 Nable CommunicationsPairCorr
  0.52035420 NaverPairCorr
  0.51035900 JYP EntertainmentPairCorr
  0.46011390 Busan IndustrialPairCorr
  0.41230240 Hana Financial 7PairCorr

Related Correlations Analysis

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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   
088910
+ 0.8
013580
013580
+ 0.7
002320
088910
+ 0.7
002320
013580
+ 0.52
298690
088910
+ 0.45
298690
189860
+ 0.4
298690
  
High negative correlations   
189860
- 0.36
091590
091590
- 0.16
298690
088910
- 0.13
091590
091590
- 0.04
002320

Risk-Adjusted Indicators

There is a big difference between Itcen Stock performing well and Itcen Co 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 Itcen Co'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Itcen Co 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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