Top Material Correlations

360070 Stock

26,600 1,000.00 3.62%

The current 90-days correlation between Top Material and Samyang Foods Co is 0.24 (i.e., Modest 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 0.03 (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

0.7	005935	Samsung Electronics	Pair Corr
0.73	005930	Samsung Electronics	Pair Corr
0.66	373220	LG Energy Solution	Pair Corr
0.82	051915	LG Chem	Pair Corr
0.85	051910	LG Chemicals	Pair Corr
0.86	006400	Samsung SDI	Pair Corr
0.63	005387	Hyundai Motor	Pair Corr
0.73	055550	Shinhan Financial Earnings Call This Week	Pair Corr
0.72	066570	LG Electronics	Pair Corr

Related Correlations Analysis

	003230	128660	010280	007530	026890	115480	014570	119500
003230		0.02	0.7	-0.22	0.79	-0.01	0.39	0.74	003230
128660	0.02		0.08	0.68	-0.06	0.83	0.8	0.26	128660
010280	0.7	0.08		-0.36	0.65	-0.18	0.32	0.55	010280
007530	-0.22	0.68	-0.36		-0.29	0.85	0.5	-0.2	007530
026890	0.79	-0.06	0.65	-0.29		-0.11	0.18	0.51	026890
115480	-0.01	0.83	-0.18	0.85	-0.11		0.76	0.15	115480
014570	0.39	0.8	0.32	0.5	0.18	0.76		0.55	014570
119500	0.74	0.26	0.55	-0.2	0.51	0.15	0.55		119500
	003230	128660	010280	007530	026890	115480	014570	119500

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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

115480	+ 0.85	007530
115480	+ 0.83	128660
014570	+ 0.8	128660
026890	+ 0.79	003230
014570	+ 0.76	115480
119500	+ 0.74	003230

High negative correlations

007530	- 0.36	010280
026890	- 0.29	007530
007530	- 0.22	003230
119500	- 0.2	007530
115480	- 0.18	010280
115480	- 0.11	026890

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
003230	2.29	0.40	0.14	(8.09)	1.84	(3.19)	6.11	(3.40)	17.57
128660	1.21	(0.04)	0.00	(0.42)	0.00	0.00	2.34	(3.06)	10.19
010280	1.13	0.07	(0.01)	1.55	1.28	(1.37)	2.79	(2.12)	7.90
007530	2.00	(0.26)	0.00	9.42	0.00	0.00	4.79	(4.80)	19.12
026890	1.38	0.06	(0.02)	(0.77)	1.82	(1.48)	3.46	(2.93)	8.11
115480	1.17	(0.12)	0.00	0.66	0.00	0.00	3.17	(3.07)	8.63
014570	1.32	(0.02)	(0.05)	0.04	1.49	(1.84)	2.56	(2.69)	19.20
119500	2.69	0.52	0.17	(4.24)	2.02	(3.52)	9.56	(3.55)	23.23

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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