Shinhan Inverse Correlations
| 500010 Stock | 3,730 15.00 0.40% |
The correlation of Shinhan Inverse 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shinhan Inverse moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shinhan Inverse DJIA moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Significant diversification
The correlation between Shinhan Inverse DJIA and NYA is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shinhan Inverse DJIA and NYA in the same portfolio, assuming nothing else is changed.
Shinhan |
The ability to find closely correlated positions to Shinhan Inverse 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 Inverse 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 Inverse - 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 Inverse DJIA to buy it.
Moving against Shinhan Stock
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Shinhan Stock performing well and Shinhan Inverse 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 Inverse'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 005935 | 1.14 | (0.01) | 0.00 | 0.04 | 0.00 | 2.99 | 7.28 | |||
| 000660 | 2.16 | 0.46 | 0.20 | (1.21) | 1.93 | 5.15 | 13.74 | |||
| 051915 | 1.67 | (0.19) | 0.00 | (0.67) | 0.00 | 3.74 | 8.45 | |||
| 051910 | 1.59 | (0.25) | 0.00 | (1.12) | 0.00 | 2.94 | 11.29 | |||
| 006400 | 2.36 | 0.12 | 0.05 | 0.17 | 2.30 | 5.05 | 18.55 | |||
| 005387 | 1.93 | 0.03 | 0.01 | 1.17 | 2.02 | 5.07 | 10.16 | |||
| 005385 | 1.69 | (0.02) | 0.00 | 0.04 | 0.00 | 4.08 | 9.32 |
Shinhan Inverse 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 Shinhan Inverse stock to make a market-neutral strategy. Peer analysis of Shinhan Inverse could also be used in its relative valuation, which is a method of valuing Shinhan Inverse by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Complementary Tools for Shinhan Stock analysis
When running Shinhan Inverse's price analysis, check to measure Shinhan Inverse's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Shinhan Inverse is operating at the current time. Most of Shinhan Inverse's value examination focuses on studying past and present price action to predict the probability of Shinhan Inverse's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Shinhan Inverse's price. Additionally, you may evaluate how the addition of Shinhan Inverse to your portfolios can decrease your overall portfolio volatility.
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |