Ajusteel Correlations

139990 Stock

3,855 75.00 1.91%

The current 90-days correlation between Ajusteel and Worldex Industry Trading is 0.3 (i.e., Weak diversification). The correlation of Ajusteel 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.

Ajusteel Correlation With Market

Good diversification

The correlation between Ajusteel Co and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ajusteel Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ajusteel Stock

0.85	002690	Dong Il Steel	Pair Corr
0.66	008260	Ni Steel	Pair Corr
0.89	023000	Samwon Steel	Pair Corr
0.95	254120	Xavis	Pair Corr
0.77	353190	Hurum	Pair Corr

Moving against Ajusteel Stock

0.44	306200	Seah Steel Corp	Pair Corr
0.37	133820	Finebesteel	Pair Corr

Related Correlations Analysis

	101160	246690	248170	005945	003230	041190	026890
101160		0.48	0.8	-0.23	-0.26	0.18	-0.41	101160
246690	0.48		0.32	0.2	0.38	-0.27	0.33	246690
248170	0.8	0.32		-0.47	-0.56	0.45	-0.36	248170
005945	-0.23	0.2	-0.47		0.65	-0.68	0.56	005945
003230	-0.26	0.38	-0.56	0.65		-0.78	0.69	003230
041190	0.18	-0.27	0.45	-0.68	-0.78		-0.69	041190
026890	-0.41	0.33	-0.36	0.56	0.69	-0.69		026890
	101160	246690	248170	005945	003230	041190	026890

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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

248170	+ 0.8	101160
026890	+ 0.69	003230
003230	+ 0.65	005945
026890	+ 0.56	005945
246690	+ 0.48	101160
041190	+ 0.45	248170

High negative correlations

041190	- 0.78	003230
026890	- 0.69	041190
041190	- 0.68	005945
003230	- 0.56	248170
005945	- 0.47	248170
026890	- 0.41	101160

Risk-Adjusted Indicators

There is a big difference between Ajusteel Stock performing well and Ajusteel 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 Ajusteel'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
101160	1.76	(0.11)	0.00	(0.32)	0.00	0.00	3.75	(3.26)	9.79
246690	2.25	(0.01)	(0.03)	0.05	3.01	(2.34)	6.46	(5.46)	24.52
248170	1.48	(0.27)	0.00	(0.98)	0.00	0.00	3.75	(3.97)	12.95
005945	0.57	0.09	(0.01)	(1.10)	0.63	(0.72)	1.64	(1.00)	5.84
003230	2.29	0.40	0.14	(8.09)	1.84	(3.19)	6.11	(3.40)	17.57
041190	3.39	(0.02)	0.00	0.13	0.00	0.00	8.66	(7.19)	23.42
026890	1.41	0.01	(0.04)	(0.20)	1.85	(1.52)	3.46	(2.93)	8.11

Be your own money manager

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