Daishin Balance Correlations

332290 Stock

KRW 1,025 63.00 6.55%

The current 90-days correlation between Daishin Balance No and Formetal Co is 0.19 (i.e., Average diversification). The correlation of Daishin Balance 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.

Daishin Balance Correlation With Market

Average diversification

The correlation between Daishin Balance No and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Daishin Balance No and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Daishin Balance could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Daishin Balance 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 Daishin Balance - 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 Daishin Balance No to buy it.

Moving together with Daishin Stock

0.84	051915	LG Chem	Pair Corr
0.93	278280	Chunbo Co	Pair Corr
0.8	213420	DukSan Neolux CoLtd	Pair Corr
0.86	298000	Hyosung Chemical Corp	Pair Corr
0.96	220260	LIG ES SPAC	Pair Corr
0.93	357550	Sukgyung AT	Pair Corr
0.63	239890	PH Tech	Pair Corr
0.74	134380	Miwon Chemical	Pair Corr
0.88	112290	Youngchang Chemical	Pair Corr
0.63	060570	Dreamus Company	Pair Corr
0.83	000400	Lotte Non Life	Pair Corr
0.78	023760	Han Kook Capital	Pair Corr

Moving against Daishin Stock

0.74	329180	Hyundai Heavy Industries	Pair Corr
0.66	111710	Namhwa Industrial	Pair Corr
0.56	182360	Cube Entertainment	Pair Corr

Related Correlations Analysis

	500007	119500	010240	109860	016610	077360	128660	019770
500007		-0.55	-0.33	0.26	0.13	0.1	-0.42	0.07	500007
119500	-0.55		0.67	-0.12	-0.01	0.05	0.24	-0.13	119500
010240	-0.33	0.67		-0.33	-0.02	-0.21	-0.03	-0.62	010240
109860	0.26	-0.12	-0.33		0.55	0.96	0.46	0.44	109860
016610	0.13	-0.01	-0.02	0.55		0.55	0.18	-0.11	016610
077360	0.1	0.05	-0.21	0.96	0.55		0.56	0.46	077360
128660	-0.42	0.24	-0.03	0.46	0.18	0.56		0.42	128660
019770	0.07	-0.13	-0.62	0.44	-0.11	0.46	0.42		019770
	500007	119500	010240	109860	016610	077360	128660	019770

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

077360	+ 0.96	109860
010240	+ 0.67	119500
128660	+ 0.56	077360
016610	+ 0.55	109860
077360	+ 0.55	016610
128660	+ 0.46	109860

High negative correlations

019770	- 0.62	010240
119500	- 0.55	500007
128660	- 0.42	500007
109860	- 0.33	010240
010240	- 0.33	500007
077360	- 0.21	010240

Risk-Adjusted Indicators

There is a big difference between Daishin Stock performing well and Daishin Balance 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 Daishin Balance'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
500007	1.70	(0.18)	0.00	(0.22)	0.00	0.00	3.41	(3.34)	10.44
119500	1.82	0.43	0.15	(2.27)	1.43	(2.26)	5.07	(3.06)	13.02
010240	0.99	0.21	0.09	14.54	0.74	(1.29)	2.14	(1.34)	13.01
109860	0.59	(0.22)	0.00	(1.30)	0.00	0.00	1.04	(1.21)	6.14
016610	1.95	0.15	0.01	(1.30)	2.36	(2.29)	4.91	(3.92)	28.97
077360	2.22	(0.52)	0.00	(7.57)	0.00	0.00	5.05	(4.78)	13.76
128660	2.09	(0.02)	0.00	0.21	0.00	0.00	4.30	(3.91)	30.62
019770	1.58	(0.21)	0.00	1.96	0.00	0.00	2.85	(4.02)	16.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in Daishin Balance 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.

Did you try this?

Run Bollinger Bands Now

Bollinger Bands

Use Bollinger Bands indicator to analyze target price for a given investing horizon

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC