SP Systems Correlations

317830 Stock

KRW 4,910 130.00 2.72%

The current 90-days correlation between SP Systems CoLtd and ABCO Electronics Co is 0.73 (i.e., Poor diversification). The correlation of SP Systems 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.

SP Systems Correlation With Market

Good diversification

The correlation between SP Systems CoLtd and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SP Systems CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with 317830 Stock

0.67	277810	Rainbow Robotics	Pair Corr
0.77	297090	CS BEARING CoLtd	Pair Corr
0.66	100660	Seoam Machinery Industry	Pair Corr
0.89	059270	Haisung TPC	Pair Corr
0.68	039610	HS Valve	Pair Corr

Related Correlations Analysis

	005300	036010	35320K	081580	015260	006570	021080	004770
005300		0.89	0.83	-0.52	0.27	0.56	-0.39	-0.2	005300
036010	0.89		0.76	-0.22	0.47	0.49	-0.16	0.04	036010
35320K	0.83	0.76		-0.57	0.54	0.59	-0.14	0.05	35320K
081580	-0.52	-0.22	-0.57		0.01	-0.42	0.49	0.48	081580
015260	0.27	0.47	0.54	0.01		0.32	0.35	0.49	015260
006570	0.56	0.49	0.59	-0.42	0.32		-0.35	0.05	006570
021080	-0.39	-0.16	-0.14	0.49	0.35	-0.35		0.54	021080
004770	-0.2	0.04	0.05	0.48	0.49	0.05	0.54		004770
	005300	036010	35320K	081580	015260	006570	021080	004770

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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

036010	+ 0.89	005300
35320K	+ 0.83	005300
35320K	+ 0.76	036010
006570	+ 0.59	35320K
006570	+ 0.56	005300
015260	+ 0.54	35320K

High negative correlations

081580	- 0.57	35320K
081580	- 0.52	005300
006570	- 0.42	081580
021080	- 0.39	005300
021080	- 0.35	006570
081580	- 0.22	036010

Risk-Adjusted Indicators

There is a big difference between 317830 Stock performing well and SP Systems 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 SP Systems' 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
005300	1.13	(0.24)	0.00	1.73	0.00	0.00	1.81	(2.53)	7.19
036010	2.41	(0.42)	0.00	(10.16)	0.00	0.00	4.45	(4.75)	17.32
35320K	0.88	(0.12)	0.00	(0.82)	0.00	0.00	2.06	(2.23)	6.73
081580	2.13	0.32	0.06	(0.81)	2.18	(2.54)	5.15	(4.44)	13.47
015260	2.48	(0.16)	0.00	(0.09)	0.00	0.00	4.43	(5.81)	22.20
006570	1.78	(0.01)	(0.06)	(0.10)	2.16	(2.10)	3.80	(4.09)	10.73
021080	1.68	(0.10)	0.00	(0.24)	0.00	0.00	4.00	(2.90)	13.09
004770	0.87	0.06	(0.04)	0.67	1.18	(1.01)	2.21	(1.74)	8.18

Be your own money manager

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