KOOL2PLAY Correlations

8Q8 Stock

0.18 0.01 5.88%

The current 90-days correlation between KOOL2PLAY SA ZY and Daido Steel Co is -0.16 (i.e., Good diversification). The correlation of KOOL2PLAY 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.

KOOL2PLAY Correlation With Market

Significant diversification

The correlation between KOOL2PLAY SA ZY 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 KOOL2PLAY SA ZY and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to KOOL2PLAY could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KOOL2PLAY 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 KOOL2PLAY - 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 KOOL2PLAY SA ZY to buy it.

Moving together with KOOL2PLAY Stock

0.73	7NX	NEXON Co	Pair Corr
0.72	7NX	NEXON Co	Pair Corr
0.77	HYU	Hyundai Motor	Pair Corr
0.88	PKX	POSCO Holdings	Pair Corr

Moving against KOOL2PLAY Stock

0.84	ERT	Electronic Arts	Pair Corr
0.79	TKE	Take Two Interactive	Pair Corr
0.68	BRYN	Berkshire Hathaway	Pair Corr
0.67	BRH	Berkshire Hathaway	Pair Corr
0.67	BRYN	Berkshire Hathaway	Pair Corr
0.66	KBIA	KB Financial Group	Pair Corr
0.62	AC8	Aristocrat Leisure	Pair Corr
0.55	NTO	Nintendo	Pair Corr
0.47	931	Sea Limited	Pair Corr
0.37	HY9H	SK hynix	Pair Corr

Related Correlations Analysis

	DDL	BH5	DDN	RS6	7RD	63U	USX1
DDL		-0.13	-0.69	-0.79	-0.75	-0.4	-0.71	DDL
BH5	-0.13		0.47	0.47	0.44	0.71	0.37	BH5
DDN	-0.69	0.47		0.87	0.73	0.66	0.74	DDN
RS6	-0.79	0.47	0.87		0.84	0.54	0.76	RS6
7RD	-0.75	0.44	0.73	0.84		0.58	0.69	7RD
63U	-0.4	0.71	0.66	0.54	0.58		0.52	63U
USX1	-0.71	0.37	0.74	0.76	0.69	0.52		USX1
	DDL	BH5	DDN	RS6	7RD	63U	USX1

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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

RS6	+ 0.87	DDN
7RD	+ 0.84	RS6
USX1	+ 0.76	RS6
USX1	+ 0.74	DDN
7RD	+ 0.73	DDN
63U	+ 0.71	BH5

High negative correlations

RS6	- 0.79	DDL
7RD	- 0.75	DDL
USX1	- 0.71	DDL
DDN	- 0.69	DDL
63U	- 0.4	DDL
BH5	- 0.13	DDL

Risk-Adjusted Indicators

There is a big difference between KOOL2PLAY Stock performing well and KOOL2PLAY 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 KOOL2PLAY'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
DDL	1.17	(0.33)	0.00	(1.37)	0.00	0.00	2.13	(2.33)	11.84
BH5	1.62	0.07	0.00	0.25	1.83	(1.93)	2.40	(3.15)	10.66
DDN	1.06	0.12	0.09	0.26	0.90	(1.32)	2.75	(1.73)	10.23
RS6	1.13	0.22	0.12	0.39	1.30	(1.28)	2.18	(1.85)	8.40
7RD	1.60	0.18	0.05	0.44	1.63	(2.48)	4.24	(3.39)	11.52
63U	0.46	0.04	0.00	0.25	0.00	0.00	0.00	0.00	9.76
USX1	2.24	(0.01)	0.02	0.11	2.77	(2.84)	5.42	(4.86)	15.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in KOOL2PLAY 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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