Finebesteel Correlations

133820 Stock

1,087 14.00 1.27%

The current 90-days correlation between Finebesteel and Atinum Investment Co is 0.07 (i.e., Significant diversification). The correlation of Finebesteel 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.

Finebesteel Correlation With Market

Good diversification

The correlation between Finebesteel and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Finebesteel and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Finebesteel Stock

0.8	002690	Dong Il Steel	Pair Corr
0.9	025890	Han Kook Steel	Pair Corr
0.73	326030	Sk Biopharmaceuticals	Pair Corr

Moving against Finebesteel Stock

0.86	000660	SK Hynix	Pair Corr
0.44	011155	CJ Seafood Corp	Pair Corr

Related Correlations Analysis

	021080	025770	030210	005945	241520	138580	036800	035510
021080		0.31	0.3	0.15	0.49	-0.07	-0.16	0.35	021080
025770	0.31		0.16	-0.32	0.72	-0.29	0.17	0.77	025770
030210	0.3	0.16		0.01	0.29	-0.53	-0.24	0.52	030210
005945	0.15	-0.32	0.01		-0.51	0.48	0.19	-0.3	005945
241520	0.49	0.72	0.29	-0.51		-0.52	-0.2	0.79	241520
138580	-0.07	-0.29	-0.53	0.48	-0.52		0.46	-0.59	138580
036800	-0.16	0.17	-0.24	0.19	-0.2	0.46		-0.06	036800
035510	0.35	0.77	0.52	-0.3	0.79	-0.59	-0.06		035510
	021080	025770	030210	005945	241520	138580	036800	035510

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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

035510	+ 0.79	241520
035510	+ 0.77	025770
241520	+ 0.72	025770
035510	+ 0.52	030210
241520	+ 0.49	021080
138580	+ 0.48	005945

High negative correlations

035510	- 0.59	138580
138580	- 0.53	030210
138580	- 0.52	241520
241520	- 0.51	005945
005945	- 0.32	025770
035510	- 0.3	005945

Risk-Adjusted Indicators

There is a big difference between Finebesteel Stock performing well and Finebesteel 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 Finebesteel'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
021080	1.12	(0.09)	0.00	(0.28)	0.00	0.00	2.24	(2.54)	6.23
025770	0.71	(0.07)	0.00	1.27	0.00	0.00	1.18	(1.62)	4.68
030210	1.29	(0.13)	0.00	(0.83)	0.00	0.00	2.45	(3.32)	7.31
005945	0.66	0.04	0.04	0.18	1.04	(0.63)	1.46	(1.44)	3.93
241520	1.39	(0.30)	0.00	1.71	0.00	0.00	2.79	(3.16)	8.45
138580	1.81	0.15	0.07	1.15	2.17	(2.02)	4.17	(3.31)	18.69
036800	1.23	0.03	0.03	0.14	1.33	(1.54)	2.26	(2.51)	6.29
035510	0.71	(0.23)	0.00	(0.77)	0.00	0.00	1.57	(1.70)	4.83

Be your own money manager

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