Top Material Correlations

360070 Stock   24,800  500.00  1.98%   
The current 90-days correlation between Top Material and Samsung Electronics Co is 0.44 (i.e., Very weak diversification). The correlation of Top Material 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.

Top Material Correlation With Market

Significant diversification

The correlation between Top Material Co and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Top Material Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Top Material could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Top Material 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 Top Material - 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 Top Material Co to buy it.

Moving together with Top Stock

  0.68005935 Samsung ElectronicsPairCorr
  0.71005930 Samsung ElectronicsPairCorr
  0.7373220 LG Energy SolutionPairCorr
  0.82051915 LG ChemPairCorr
  0.85051910 LG ChemicalsPairCorr
  0.87006400 Samsung SDIPairCorr
  0.93005490 POSCO HoldingsPairCorr
  0.66034730 SK HoldingsPairCorr
  0.85034220 LG DisplayPairCorr

Moving against Top Stock

  0.42011200 HMM Co Earnings Call This WeekPairCorr
  0.42030200 KT CorporationPairCorr
  0.37000270 Kia CorpPairCorr

Related Correlations Analysis

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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   
051910051915
005385005387
005930005935
051915373220
051910373220
006400051910
  
High negative correlations   
051915000660
000660373220
051910000660
000660005935
006400000660
051915207940

Risk-Adjusted Indicators

There is a big difference between Top Stock performing well and Top Material 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 Top Material'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
005935  1.55 (0.16) 0.00 (0.67) 0.00 
 2.99 
 10.84 
005930  1.60 (0.13) 0.00  26.95  0.00 
 3.43 
 10.64 
373220  2.25 (0.20) 0.00  0.53  0.00 
 3.60 
 16.48 
000660  2.53  0.14  0.02  1.36  3.15 
 5.95 
 19.70 
207940  0.90 (0.01)(0.05) 0.01  1.18 
 2.58 
 7.43 
051915  2.04 (0.86) 0.00 (1.34) 0.00 
 3.41 
 14.51 
051910  2.00 (0.53) 0.00 (2.65) 0.00 
 3.99 
 15.25 
006400  2.57 (0.71) 0.00 (3.19) 0.00 
 4.06 
 12.92 
005387  1.30 (0.07) 0.00 (0.27) 0.00 
 2.81 
 7.99 
005385  1.12 (0.03) 0.00 (0.11) 0.00 
 2.55 
 6.58 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Top Material 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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