Dongkuk Steel Correlations

001230 Stock

8,150 70.00 0.87%

The current 90-days correlation between Dongkuk Steel Mill and Hanwha Solutions is 0.4 (i.e., Very weak diversification). The correlation of Dongkuk Steel 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.

Dongkuk Steel Correlation With Market

Good diversification

The correlation between Dongkuk Steel Mill and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dongkuk Steel Mill and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Dongkuk Stock

0.62	051910	LG Chemicals	Pair Corr
0.62	005490	POSCO Holdings	Pair Corr
0.87	011170	Lotte Chemical Corp	Pair Corr
0.93	004020	Hyundai Steel	Pair Corr
0.8	086520	Ecopro	Pair Corr
0.88	006650	Korea Petro Chemical	Pair Corr
0.74	003030	Seah Steel Corp	Pair Corr
0.67	001430	SeAH Bestee	Pair Corr
0.77	005930	Samsung Electronics	Pair Corr
0.77	005935	Samsung Electronics	Pair Corr
0.86	000660	SK Hynix	Pair Corr
0.63	011200	HMM Co	Pair Corr
0.87	000270	Kia Corp	Pair Corr
0.68	034730	SK Holdings	Pair Corr
0.79	034220	LG Display	Pair Corr

Moving against Dongkuk Stock

0.65

030200

KT Corporation

Pair Corr

Related Correlations Analysis

	005490	009830	004020	086520	001230	006650	003030	001430
005490		0.28	0.61	0.49	0.62	0.56	0.74	0.77	005490
009830	0.28		0.63	0.48	0.6	0.67	0.33	0.49	009830
004020	0.61	0.63		0.83	0.93	0.96	0.72	0.62	004020
086520	0.49	0.48	0.83		0.8	0.73	0.58	0.36	086520
001230	0.62	0.6	0.93	0.8		0.88	0.74	0.67	001230
006650	0.56	0.67	0.96	0.73	0.88		0.72	0.62	006650
003030	0.74	0.33	0.72	0.58	0.74	0.72		0.7	003030
001430	0.77	0.49	0.62	0.36	0.67	0.62	0.7		001430
	005490	009830	004020	086520	001230	006650	003030	001430

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Risk-Adjusted Indicators

There is a big difference between Dongkuk Stock performing well and Dongkuk Steel 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 Dongkuk Steel'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
005490	1.92	0.12	0.00	(3.09)	2.83	(1.89)	4.99	(3.20)	18.02
009830	2.42	(0.16)	0.00	(2.43)	0.00	0.00	7.30	(4.14)	21.50
004020	1.34	0.00	0.00	0.11	0.00	0.00	2.76	(2.52)	10.93
086520	2.79	0.12	(0.01)	(0.14)	3.48	(2.96)	6.97	(4.89)	19.75
001230	0.76	0.00	0.00	0.11	0.00	0.00	1.64	(1.49)	9.05
006650	1.98	(0.21)	0.00	0.51	0.00	0.00	5.06	(3.32)	14.70
003030	2.27	(0.13)	0.00	(0.19)	0.00	0.00	4.71	(4.40)	13.72
001430	1.52	0.03	(0.03)	(1.32)	2.38	(1.60)	3.00	(2.50)	15.85

Be your own money manager

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