Newtree CoLtd Correlations

270870 Stock

KRW 5,870 190.00 3.14%

The current 90-days correlation between Newtree CoLtd and Cherrybro coLtd is -0.41 (i.e., Very good diversification). The correlation of Newtree CoLtd 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.

Newtree CoLtd Correlation With Market

Modest diversification

The correlation between Newtree CoLtd and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newtree CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Newtree Stock

0.68	290720	Foodnamoo	Pair Corr
0.74	005930	Samsung Electronics	Pair Corr
0.69	005935	Samsung Electronics	Pair Corr
0.63	000270	Kia Corp	Pair Corr
0.73	005490	POSCO Holdings	Pair Corr
0.79	034220	LG Display	Pair Corr

Moving against Newtree Stock

0.75	030200	KT Corporation	Pair Corr
0.71	105560	KB Financial Group	Pair Corr
0.48	011200	HMM Co	Pair Corr

Related Correlations Analysis

	066360	011390	011390	006805	133820	500003	267250	263920	361580
066360		-0.33	-0.33	-0.1	0.2	-0.04	0.4	0.56	0.42	066360
011390	-0.33		1.0	0.44	0.57	-0.01	-0.17	-0.58	-0.41	011390
011390	-0.33	1.0		0.44	0.57	-0.01	-0.17	-0.58	-0.41	011390
006805	-0.1	0.44	0.44		0.48	0.11	-0.14	-0.58	-0.59	006805
133820	0.2	0.57	0.57	0.48		-0.23	-0.08	-0.41	-0.34	133820
500003	-0.04	-0.01	-0.01	0.11	-0.23		-0.12	-0.08	-0.32	500003
267250	0.4	-0.17	-0.17	-0.14	-0.08	-0.12		0.25	0.45	267250
263920	0.56	-0.58	-0.58	-0.58	-0.41	-0.08	0.25		0.85	263920
361580	0.42	-0.41	-0.41	-0.59	-0.34	-0.32	0.45	0.85		361580
	066360	011390	011390	006805	133820	500003	267250	263920	361580

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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

011390	+ 1.0	011390
361580	+ 0.85	263920
133820	+ 0.57	011390
133820	+ 0.57	011390
263920	+ 0.56	066360
133820	+ 0.48	006805

High negative correlations

361580	- 0.59	006805
263920	- 0.58	006805
263920	- 0.58	011390
263920	- 0.58	011390
263920	- 0.41	133820
361580	- 0.41	011390

Risk-Adjusted Indicators

There is a big difference between Newtree Stock performing well and Newtree CoLtd 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 Newtree CoLtd'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
066360	1.28	(0.12)	0.00	0.38	0.00	0.00	2.86	(2.87)	12.60
011390	2.75	0.22	0.05	0.51	3.19	(3.54)	5.62	(4.82)	43.62
011390	2.75	0.22	0.05	0.51	3.19	(3.54)	5.62	(4.82)	43.62
006805	1.30	0.13	0.02	0.66	1.68	(1.50)	1.44	(2.55)	37.44
133820	2.05	0.07	0.00	0.28	2.14	(2.65)	3.59	(3.69)	25.82
500003	1.64	0.03	(0.05)	(0.21)	1.83	(1.90)	4.16	(3.07)	9.46
267250	1.39	(0.07)	0.00	(0.25)	0.00	0.00	2.80	(3.21)	9.29
263920	0.64	(0.14)	0.00	2.00	0.00	0.00	1.17	(1.75)	4.38
361580	0.83	(0.20)	0.00	(1.53)	0.00	0.00	1.61	(2.16)	5.89

Be your own money manager

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