THiRA UTECH Correlations

322180 Stock

KRW 5,500 120.00 2.23%

The current 90-days correlation between THiRA UTECH LTD and Nable Communications is 0.08 (i.e., Significant diversification). The correlation of THiRA UTECH 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.

THiRA UTECH Correlation With Market

Average diversification

The correlation between THiRA UTECH LTD and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding THiRA UTECH LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with THiRA Stock

0.79	022100	Posco ICT Earnings Call This Week	Pair Corr
0.73	194480	Devsisters corporation	Pair Corr
0.61	123420	SundayToz Corp	Pair Corr
0.7	105560	KB Financial Group	Pair Corr
0.77	055550	Shinhan Financial	Pair Corr
0.65	005385	Hyundai Motor Earnings Call This Week	Pair Corr
0.72	005387	Hyundai Motor Earnings Call This Week	Pair Corr
0.77	034730	SK Holdings	Pair Corr
0.65	036460	Korea Gas	Pair Corr

Moving against THiRA Stock

0.72	078160	MEDIPOST	Pair Corr
0.65	035900	JYP Entertainment	Pair Corr
0.65	035900	JYP Entertainment Corp	Pair Corr
0.65	006040	Dongwon Ind	Pair Corr
0.58	031860	NSN Co	Pair Corr
0.52	039290	InfoBank	Pair Corr
0.49	158430	ATON Inc	Pair Corr
0.45	285490	NOVATECH	Pair Corr
0.41	402030	Konan Technology	Pair Corr
0.4	083650	BHI Co	Pair Corr

Related Correlations Analysis

	098460	102710	248170	153460	085670	101530
098460		0.21	0.88	-0.51	0.54	0.02	098460
102710	0.21		-0.04	0.06	0.73	0.43	102710
248170	0.88	-0.04		-0.63	0.37	-0.16	248170
153460	-0.51	0.06	-0.63		-0.15	0.46	153460
085670	0.54	0.73	0.37	-0.15		0.41	085670
101530	0.02	0.43	-0.16	0.46	0.41		101530
	098460	102710	248170	153460	085670	101530

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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	+ 0.88	098460
085670	+ 0.73	102710
085670	+ 0.54	098460
101530	+ 0.46	153460
101530	+ 0.43	102710
101530	+ 0.41	085670

High negative correlations

153460	- 0.63	248170
153460	- 0.51	098460
101530	- 0.16	248170
085670	- 0.15	153460
248170	- 0.04	102710

Risk-Adjusted Indicators

There is a big difference between THiRA Stock performing well and THiRA UTECH 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 THiRA UTECH'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
098460	2.14	(0.11)	0.00	0.38	0.00	0.00	3.71	(4.87)	12.43
102710	2.65	0.09	0.02	(0.23)	3.06	(2.82)	7.18	(5.06)	14.31
248170	1.51	(0.21)	0.00	(1.18)	0.00	0.00	3.75	(3.97)	12.95
153460	1.03	0.06	0.03	(0.51)	1.13	(1.69)	2.91	(2.47)	8.44
085670	2.76	(0.17)	0.00	(10.71)	0.00	0.00	6.31	(5.28)	16.58
101530	1.59	0.06	0.02	(1.55)	1.73	(2.09)	4.05	(3.23)	9.25

Be your own money manager

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