SHINHAN FINL Correlations

KSF1 Stock

EUR 33.80 0.40 1.17%

The current 90-days correlation between SHINHAN FINL ADR1 and Japan Post Bank is 0.25 (i.e., Modest diversification). The correlation of SHINHAN FINL 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.

SHINHAN FINL Correlation With Market

Average diversification

The correlation between SHINHAN FINL ADR1 and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SHINHAN FINL ADR1 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SHINHAN FINL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SHINHAN FINL 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 SHINHAN FINL - 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 SHINHAN FINL ADR1 to buy it.

Moving together with SHINHAN Stock

0.67	BYRA	PT Bank Rakyat	Pair Corr
0.71	SSUN	Samsung Electronics	Pair Corr
0.61	SSU	Samsung Electronics	Pair Corr
0.68	SSUN	Samsung Electronics	Pair Corr
0.78	BYRA	BANK RAKYAT IND	Pair Corr
0.61	BYRA	PT Bank Rakyat	Pair Corr
0.85	BYRA	BANK RAKYAT IND	Pair Corr
0.69	PQ9	PT Bank Mandiri	Pair Corr
0.76	PQ9	BANK MANDIRI	Pair Corr

Moving against SHINHAN Stock

0.71	DEVL	DBS Group Holdings	Pair Corr
0.65	MZ8	Mizuho Financial	Pair Corr
0.64	MZ8A	Mizuho Financial	Pair Corr
0.58	5JP	Japan Post Bank	Pair Corr
0.57	ICBA	ICICI Bank Limited Earnings Call Tomorrow	Pair Corr
0.48	M4B	China Merchants Bank	Pair Corr
0.4	HDFA	HDFC Bank Limited	Pair Corr
0.84	ESY	Easy Software AG	Pair Corr
0.84	C8C	Consolidated Communications	Pair Corr
0.82	C7T	CTT Correios	Pair Corr
0.81	NH5	NH HOTEL GROUP	Pair Corr
0.81	SNQB	SANOMA Dusseldorf	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.72	NTOA	Nintendo	Pair Corr
0.66	HEI	Heidelberg Materials	Pair Corr
0.64	IFX	Infineon Technologies	Pair Corr
0.62	XKR	KAR Auction Services	Pair Corr
0.61	RHM	Rheinmetall AG	Pair Corr
0.48	NY70	MOLSON RS BEVERAGE	Pair Corr
0.42	YC3	CONCORDIA FINL GROUP	Pair Corr
0.35	1FA	SPROUTS FARMERS MKT	Pair Corr
0.31	FAA	FABASOFT Dusseldorf	Pair Corr
0.79	3RKU	RYOHIN UNSPADR/1	Pair Corr
0.76	Z56	QINGCI GAMES INC	Pair Corr
0.74	KEL	Kellogg Company	Pair Corr
0.71	DDN	Darden Restaurants	Pair Corr

Related Correlations Analysis

	M4B	HDFA	ICBA	BZG2	DEVL	SID	BYRA	MZ8	MZ8A	5JP
M4B		-0.3	-0.17	0.01	0.12	-0.41	-0.17	0.04	0.02	0.14	M4B
HDFA	-0.3		0.87	-0.09	0.6	0.75	-0.55	0.63	0.64	0.5	HDFA
ICBA	-0.17	0.87		-0.08	0.61	0.67	-0.64	0.64	0.65	0.5	ICBA
BZG2	0.01	-0.09	-0.08		-0.51	0.1	0.49	-0.53	-0.55	-0.5	BZG2
DEVL	0.12	0.6	0.61	-0.51		0.29	-0.82	0.96	0.95	0.89	DEVL
SID	-0.41	0.75	0.67	0.1	0.29		-0.29	0.33	0.35	0.3	SID
BYRA	-0.17	-0.55	-0.64	0.49	-0.82	-0.29		-0.84	-0.84	-0.72	BYRA
MZ8	0.04	0.63	0.64	-0.53	0.96	0.33	-0.84		0.99	0.9	MZ8
MZ8A	0.02	0.64	0.65	-0.55	0.95	0.35	-0.84	0.99		0.87	MZ8A
5JP	0.14	0.5	0.5	-0.5	0.89	0.3	-0.72	0.9	0.87		5JP
	M4B	HDFA	ICBA	BZG2	DEVL	SID	BYRA	MZ8	MZ8A	5JP

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MZ8A	+ 0.99	MZ8
MZ8	+ 0.96	DEVL
MZ8A	+ 0.95	DEVL
5JP	+ 0.9	MZ8
5JP	+ 0.89	DEVL
ICBA	+ 0.87	HDFA

High negative correlations

MZ8A	- 0.84	BYRA
MZ8	- 0.84	BYRA
BYRA	- 0.82	DEVL
5JP	- 0.72	BYRA
BYRA	- 0.64	ICBA
MZ8A	- 0.55	BZG2

Risk-Adjusted Indicators

There is a big difference between SHINHAN Stock performing well and SHINHAN FINL 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 SHINHAN FINL'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
M4B	1.63	0.18	0.09	0.63	1.77	(1.99)	3.88	(2.92)	11.04
HDFA	1.21	0.05	0.03	(4.16)	1.33	(1.96)	3.45	(2.59)	10.15
ICBA	1.21	0.05	0.03	(0.09)	1.30	(1.79)	3.55	(2.14)	9.37
BZG2	2.61	0.02	0.00	(0.06)	3.37	(3.94)	8.77	(6.78)	20.09
DEVL	1.08	0.26	0.21	1.53	0.94	(1.18)	2.31	(1.63)	10.94
SID	1.28	(0.01)	0.00	(0.05)	0.00	0.00	2.31	(2.67)	10.47
BYRA	3.34	(0.28)	0.00	(0.47)	0.00	0.00	8.70	(8.33)	30.95
MZ8	1.53	0.48	0.28	(6.17)	1.26	(1.78)	3.66	(2.73)	10.56
MZ8A	1.26	0.45	0.28	2.35	0.91	(1.71)	3.00	(2.10)	10.07
5JP	1.65	0.15	0.07	1.73	1.75	(2.25)	3.82	(3.28)	10.30

Be your own money manager

Our tools can tell you how much better you can do entering a position in SHINHAN FINL 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 Fundamental Analysis Now

Fundamental Analysis

View fundamental data based on most recent published financial statements

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