Daebo Magnetic Correlations

290670 Stock

KRW 13,410 200.00 1.51%

The current 90-days correlation between Daebo Magnetic CoLtd and Woori Technology is 0.1 (i.e., Average diversification). The correlation of Daebo Magnetic 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.

Daebo Magnetic Correlation With Market

Good diversification

The correlation between Daebo Magnetic CoLtd and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Daebo Magnetic CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Daebo Stock

0.87	054210	Elentec	Pair Corr
0.72	126700	HyVision System	Pair Corr
0.96	277880	TSI Co	Pair Corr
0.86	033100	Cheryong Electric CoLtd	Pair Corr
0.81	012340	Nuintek CoLtd	Pair Corr
0.8	005380	Hyundai Motor	Pair Corr
0.77	005385	Hyundai Motor	Pair Corr
0.71	005387	Hyundai Motor	Pair Corr

Moving against Daebo Stock

0.65	032830	Samsung Life	Pair Corr
0.53	105560	KB Financial Group	Pair Corr
0.4	316140	Woori Financial Group	Pair Corr

Related Correlations Analysis

	032820	065350	237820	051900	005830	418420	061040	037330
032820		0.2	0.11	-0.12	-0.27	-0.19	-0.14	-0.11	032820
065350	0.2		-0.03	-0.31	-0.07	-0.06	0.43	-0.39	065350
237820	0.11	-0.03		-0.3	-0.21	-0.5	-0.43	-0.31	237820
051900	-0.12	-0.31	-0.3		0.25	0.74	-0.01	0.66	051900
005830	-0.27	-0.07	-0.21	0.25		0.63	0.44	0.64	005830
418420	-0.19	-0.06	-0.5	0.74	0.63		0.41	0.84	418420
061040	-0.14	0.43	-0.43	-0.01	0.44	0.41		0.12	061040
037330	-0.11	-0.39	-0.31	0.66	0.64	0.84	0.12		037330
	032820	065350	237820	051900	005830	418420	061040	037330

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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

037330	+ 0.84	418420
418420	+ 0.74	051900
037330	+ 0.66	051900
037330	+ 0.64	005830
418420	+ 0.63	005830
061040	+ 0.44	005830

High negative correlations

418420	- 0.5	237820
061040	- 0.43	237820
037330	- 0.39	065350
037330	- 0.31	237820
051900	- 0.31	065350
051900	- 0.3	237820

Risk-Adjusted Indicators

There is a big difference between Daebo Stock performing well and Daebo Magnetic 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 Daebo Magnetic'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
032820	2.88	0.16	0.03	0.52	2.79	(3.87)	7.38	(4.82)	20.50
065350	2.89	0.40	0.11	1.16	2.52	(3.72)	7.31	(4.36)	18.34
237820	2.67	0.13	0.03	0.34	2.94	(3.25)	6.77	(5.42)	27.35
051900	1.70	(0.10)	0.00	(0.20)	0.00	0.00	4.05	(4.65)	13.42
005830	2.10	(0.16)	0.00	1.75	0.00	0.00	3.27	(4.76)	10.66
418420	2.10	(0.43)	0.00	(1.20)	0.00	0.00	3.90	(5.22)	13.85
061040	1.26	(0.02)	0.00	0.26	0.00	0.00	3.07	(2.17)	8.81
037330	1.08	(0.19)	0.00	5.61	0.00	0.00	2.90	(2.61)	9.07

Be your own money manager

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