Samkwang Glass Correlations
| 005090 Stock | 26,400 300.00 1.12% |
The current 90-days correlation between Samkwang Glass and Samsung Electronics Co is 0.04 (i.e., Significant diversification). The correlation of Samkwang Glass 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.
Samkwang Glass Correlation With Market
Significant diversification
The correlation between Samkwang Glass Co and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Samkwang Glass Co and DJI in the same portfolio, assuming nothing else is changed.
Samkwang |
The ability to find closely correlated positions to Samkwang Glass could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Samkwang Glass 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 Samkwang Glass - 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 Samkwang Glass Co to buy it.
Moving together with Samkwang Stock
| 0.88 | 005935 | Samsung Electronics Earnings Call This Week | PairCorr |
| 0.89 | 005930 | Samsung Electronics Earnings Call This Week | PairCorr |
| 0.89 | 000660 | SK Hynix Earnings Call Today | PairCorr |
| 0.71 | 051915 | LG Chem Earnings Call Today | PairCorr |
| 0.65 | 051910 | LG Chemicals | PairCorr |
| 0.88 | 005387 | Hyundai Motor Earnings Call Today | PairCorr |
| 0.88 | 005385 | Hyundai Motor Earnings Call Today | PairCorr |
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between Samkwang Stock performing well and Samkwang Glass 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 Samkwang Glass' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 005935 | 1.23 | 0.26 | 0.06 | 213.44 | 1.19 | 3.15 | 7.00 | |||
| 005930 | 1.34 | 0.26 | 0.04 | (2.29) | 1.32 | 3.71 | 7.64 | |||
| 373220 | 1.91 | 0.08 | 0.00 | 0.05 | 0.00 | 4.81 | 12.41 | |||
| 000660 | 2.14 | 0.65 | 0.19 | (5.68) | 2.09 | 4.82 | 16.27 | |||
| 207940 | 0.09 | (0.02) | (0.33) | (0.15) | 0.17 | 0.20 | 1.71 | |||
| 051915 | 2.31 | 0.49 | 0.14 | 8.15 | 1.99 | 6.01 | 13.43 | |||
| 051910 | 2.09 | 0.44 | 0.10 | (2.04) | 2.02 | 5.38 | 11.75 | |||
| 006400 | 1.98 | 0.13 | (0.07) | (0.03) | 2.13 | 4.82 | 12.65 | |||
| 005387 | 1.15 | 0.19 | 0.06 | 0.84 | 1.08 | 2.74 | 5.77 | |||
| 005385 | 1.01 | 0.20 | 0.05 | 1.27 | 0.94 | 2.41 | 5.61 |
Samkwang Glass Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Samkwang Glass stock to make a market-neutral strategy. Peer analysis of Samkwang Glass could also be used in its relative valuation, which is a method of valuing Samkwang Glass by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |