TL Correlations

340570 Stock

54,700 300.00 0.55%

The current 90-days correlation between TL Co and Hyundai Motor Co is -0.17 (i.e., Good diversification). The correlation of TL 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.

TL Correlation With Market

Very weak diversification

The correlation between TL Co and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TL Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TL Stock

0.75	005935	Samsung Electronics	Pair Corr
0.78	005930	Samsung Electronics	Pair Corr
0.79	000660	SK Hynix	Pair Corr
0.8	006400	Samsung SDI	Pair Corr
0.66	104200	NHN Bugs Corp	Pair Corr
0.85	006800	Mirae Asset Daewoo	Pair Corr
0.81	348370	Enchem	Pair Corr
0.78	094480	GalaxiaMoneytree CoLtd	Pair Corr
0.78	001530	Dong Il Corp Split	Pair Corr
0.72	297570	Aloys Inc	Pair Corr
0.88	060250	NHN KCP Corp	Pair Corr
0.85	071050	Korea Investment Holdings	Pair Corr
0.74	122870	YG Entertainment	Pair Corr
0.89	033240	Jahwa Electron	Pair Corr
0.83	104480	TK Chemical	Pair Corr
0.8	194480	Devsisters corporation	Pair Corr
0.79	389020	Zaram Technology	Pair Corr
0.68	046890	Seoul Semiconductor	Pair Corr
0.83	054210	Elentec	Pair Corr
0.93	125210	Amogreentech CoLtd	Pair Corr
0.83	003470	Yuanta Sec Kor	Pair Corr
0.77	035510	Shinsegae Information	Pair Corr
0.83	298050	Hyosung Advanced Mat	Pair Corr
0.81	106190	High Tech Pharm	Pair Corr
0.78	215000	GOLFZON	Pair Corr

Moving against TL Stock

0.37

051915

LG Chem

Pair Corr

Related Correlations Analysis

	005935	005930	373220	000660	207940	051915	051910	006400	005387	005385
005935		1.0	-0.19	0.98	0.0	-0.51	-0.33	0.81	0.91	0.92	005935
005930	1.0		-0.16	0.98	0.0	-0.48	-0.3	0.84	0.9	0.91	005930
373220	-0.19	-0.16		-0.22	0.0	0.82	0.8	0.28	-0.07	-0.05	373220
000660	0.98	0.98	-0.22		0.0	-0.57	-0.4	0.81	0.87	0.88	000660
207940	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	207940
051915	-0.51	-0.48	0.82	-0.57	0.0		0.96	-0.11	-0.38	-0.37	051915
051910	-0.33	-0.3	0.8	-0.4	0.0	0.96		0.02	-0.23	-0.22	051910
006400	0.81	0.84	0.28	0.81	0.0	-0.11	0.02		0.77	0.8	006400
005387	0.91	0.9	-0.07	0.87	0.0	-0.38	-0.23	0.77		1.0	005387
005385	0.92	0.91	-0.05	0.88	0.0	-0.37	-0.22	0.8	1.0		005385
	005935	005930	373220	000660	207940	051915	051910	006400	005387	005385

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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

005930	+ 1.0	005935
005385	+ 1.0	005387
000660	+ 0.98	005935
000660	+ 0.98	005930
051910	+ 0.96	051915
005385	+ 0.92	005935

High negative correlations

051915	- 0.57	000660
051915	- 0.51	005935
051915	- 0.48	005930
051910	- 0.4	000660
005387	- 0.38	051915
005385	- 0.37	051915

Risk-Adjusted Indicators

There is a big difference between TL Stock performing well and TL 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 TL'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
005935	2.03	1.03	0.34	(3.42)	1.71	(2.44)	5.17	(3.43)	15.35
005930	2.29	1.23	0.43	(4.40)	1.75	(2.84)	7.13	(3.76)	17.17
373220	2.28	(0.01)	0.00	0.69	0.00	0.00	5.32	(4.52)	14.89
000660	2.63	0.94	0.23	(2.03)	2.79	(3.07)	6.15	(4.33)	17.39
207940	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
051915	2.39	0.13	0.01	(0.37)	2.95	(2.67)	7.54	(5.75)	16.26
051910	2.74	0.18	0.02	(0.74)	3.27	(2.99)	6.53	(5.44)	18.84
006400	2.95	0.71	0.21	2.95	2.52	(3.52)	7.91	(4.47)	27.39
005387	2.52	0.83	0.26	(2.40)	2.24	(3.08)	6.96	(4.25)	15.69
005385	2.41	0.85	0.29	(2.72)	2.04	(2.99)	6.46	(3.95)	13.76

TL Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with TL stock to make a market-neutral strategy. Peer analysis of TL could also be used in its relative valuation, which is a method of valuing TL by comparing valuation metrics with similar companies.

Samsung Electronics Co Samsung Electronics Co LG Energy Solution SK Hynix Samsung Biologics Co LG Chem LG Chemicals Samsung SDI Hyundai Motor Co Hyundai Motor Co American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

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