NEXON Co Correlations

NEXOF Stock

USD 26.50 0.45 1.67%

The current 90-days correlation between NEXON Co and The Sage Group is -0.11 (i.e., Good diversification). The correlation of NEXON Co 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.

NEXON Co Correlation With Market

Average diversification

The correlation between NEXON Co and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NEXON Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NEXON Pink Sheet

0.93	NEXOY	Nexon Co	Pair Corr
0.69	TLK	Telkom Indonesia Tbk	Pair Corr
0.76	PPERY	Bank Mandiri Persero	Pair Corr
0.86	PPERF	Bank Mandiri Persero	Pair Corr
0.75	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.63	DGWPF	Drgerwerk AG	Pair Corr
0.79	SYF	Synchrony Financial	Pair Corr
0.63	CASXF	Casa Minerals	Pair Corr
0.69	LCDX	Caliber Imaging Diag	Pair Corr
0.67	SMXWW	SMX Public Limited	Pair Corr
0.67	NAUFF	NevGold Corp	Pair Corr
0.87	FTV	Fortive Corp	Pair Corr
0.78	ADAMI	New York Mortgage Symbol Change	Pair Corr

Moving against NEXON Pink Sheet

0.79	RBLX	Roblox Corp	Pair Corr
0.73	BILI	Bilibili Sell-off Trend	Pair Corr
0.69	NTDOF	Nintendo	Pair Corr
0.64	NTDOY	Nintendo Co ADR	Pair Corr
0.48	PTAIF	PT Astra International	Pair Corr
0.4	NTES	NetEase	Pair Corr
0.39	NETTF	NetEase Inc	Pair Corr

Related Correlations Analysis

	CCOEY	CCOEF	SGGEF	SGPYY	WTCHF	WIZEY	WPLCF	NEMTF	SNPTF	WIGBY
CCOEY		0.74	0.76	0.74	0.69	0.84	0.88	0.11	0.91	0.67	CCOEY
CCOEF	0.74		0.62	0.43	0.23	0.41	0.48	0.15	0.56	0.35	CCOEF
SGGEF	0.76	0.62		0.79	0.41	0.69	0.74	0.15	0.75	0.39	SGGEF
SGPYY	0.74	0.43	0.79		0.56	0.76	0.8	0.11	0.83	0.58	SGPYY
WTCHF	0.69	0.23	0.41	0.56		0.84	0.83	0.09	0.74	0.84	WTCHF
WIZEY	0.84	0.41	0.69	0.76	0.84		0.95	0.08	0.86	0.68	WIZEY
WPLCF	0.88	0.48	0.74	0.8	0.83	0.95		0.14	0.88	0.69	WPLCF
NEMTF	0.11	0.15	0.15	0.11	0.09	0.08	0.14		0.08	0.07	NEMTF
SNPTF	0.91	0.56	0.75	0.83	0.74	0.86	0.88	0.08		0.71	SNPTF
WIGBY	0.67	0.35	0.39	0.58	0.84	0.68	0.69	0.07	0.71		WIGBY
	CCOEY	CCOEF	SGGEF	SGPYY	WTCHF	WIZEY	WPLCF	NEMTF	SNPTF	WIGBY

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Risk-Adjusted Indicators

There is a big difference between NEXON Pink Sheet performing well and NEXON Co 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 NEXON Co'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CCOEY	1.65	(0.25)	(5.13)	3.61	(3.89)	11.75
CCOEF	0.65	(0.20)	(0.34)	0.00	(2.68)	12.11
SGGEF	1.08	(0.10)	(0.05)	4.77	(4.89)	14.48
SGPYY	0.96	(0.08)	(0.09)	1.76	(1.82)	6.03
WTCHF	1.29	(0.47)	(0.92)	0.90	(5.03)	14.84
WIZEY	1.22	(0.24)	(1.38)	2.01	(2.84)	6.43
WPLCF	1.55	(0.29)	(0.52)	2.68	(3.56)	8.10
NEMTF	1.01	(0.45)	0.60	0.00	0.00	0.00
SNPTF	0.94	(0.23)	0.62	0.00	(2.84)	27.96
WIGBY	1.88	(0.41)	(0.75)	4.54	(7.60)	17.05

Be your own money manager

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