Fubon Taiwan Correlations

Stocks . Taiwan . 
Stock . Fubon Taiwan Technology
0052 Stock   182.70  2.45  1.36%   
The current 90-days correlation between Fubon Taiwan Technology and Cameo Communications is -0.04 (i.e., Good diversification). The correlation of Fubon Taiwan 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Fubon Taiwan Correlation With Market

Modest diversification

The correlation between Fubon Taiwan Technology and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fubon Taiwan Technology and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Fubon Taiwan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fubon Taiwan 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 Fubon Taiwan - 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 Fubon Taiwan Technology to buy it.

Moving together with Fubon Stock

  0.922330 Taiwan SemiconductorPairCorr

Moving against Fubon Stock

  0.822882A Cathay Financial HoldingPairCorr
  0.816266 Top Union ElectronicsPairCorr
  0.86499 Medeon BiodesignPairCorr
  0.792881A Fubon Financial HoldingPairCorr
  0.772882B Cathay Financial HoldingPairCorr
  0.694541 Magnate TechnologyPairCorr
  0.62888 Shin Kong FinancialPairCorr
  0.68401 Bai Sha TechnologyPairCorr
  0.562881B Fubon Financial HoldingPairCorr
  0.558440 EE RecyclingPairCorr
  0.534107 BiotequePairCorr
  0.536261 Youngtek ElectronicsPairCorr
  0.498234 NEXCOM InternationalPairCorr
  0.476516 Kingwaytek TechnologyPairCorr
  0.438383 Chen Full InternationalPairCorr
  0.431321 Ocean PlasticsPairCorr
  0.42891C CTBC Financial HoldingPairCorr
  0.392888B Shin Kong FinancialPairCorr
  0.374989 LCY Technology CorpPairCorr
  0.352891 CTBC Financial HoldingPairCorr
  0.862851 Central Reinsurance CorpPairCorr
  0.831466 Acelon Chemicals FiberPairCorr
  0.785530 Lungyen Life ServicePairCorr
  0.768088 Panram InternationalPairCorr
  0.696747 Brighten OptixPairCorr
  0.682412 Chunghwa TelecomPairCorr
  0.662468 Fortune InformationPairCorr
  0.666227 Galaxy Far EastPairCorr
  0.652520 Kindom Construction CorpPairCorr
  0.552755 YoungQin InternationalPairCorr
  0.485213 YeaShin InternationalPairCorr

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   
4904
+ 0.73
2414
6674
+ 0.66
6142
2453
+ 0.5
2414
6674
+ 0.47
8104
8104
+ 0.45
6142
2453
+ 0.43
4904
  
High negative correlations   
8104
- 0.44
2736
2414
- 0.28
2736
2453
- 0.25
8104
4904
- 0.19
2736

Risk-Adjusted Indicators

There is a big difference between Fubon Stock performing well and Fubon Taiwan 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 Fubon Taiwan'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.

Be your own money manager

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