Fuh Hwa Correlations

00650L Etf  TWD 16.72  1.13  6.33%   
The current 90-days correlation between Fuh Hwa Daily and Fuh Hwa Taiwan is 0.24 (i.e., Modest diversification). The correlation of Fuh Hwa 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.

Fuh Hwa Correlation With Market

Modest diversification

The correlation between Fuh Hwa Daily and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fuh Hwa Daily and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Fuh Hwa could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fuh Hwa 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 Fuh Hwa - 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 Fuh Hwa Daily to buy it.

Moving together with Fuh Etf

  0.6900878 Cathay SustainabilityPairCorr
  0.6900885 Fubon FTSE VietnamPairCorr
  0.6700694B Fubon 1 3PairCorr
  0.8600712 Fuh Hwa FTSEPairCorr

Moving against Fuh Etf

  0.8800674R Yuanta SecuritiesPairCorr
  0.620053 YuantaP shares TaiwanPairCorr
  0.610050 YuantaP shares TaiwanPairCorr
  0.580057 Fubon MSCI TaiwanPairCorr
  0.5700881 Cathay Taiwan 5GPairCorr
  0.5200631L Yuanta Daily TaiwanPairCorr
  0.500642U Yuanta SP GSCIPairCorr
  0.4700715L Paradigm SP GSCIPairCorr
  0.31006201 YuantaP shares TaiwanPairCorr

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   
JPMMETA
CRMMSFT
TUBER
CRMA
AMSFT
UBERMETA
  
High negative correlations   
MRKUBER
TMSFT
MRKMETA
CRMT
MRKT
MRKJPM

Fuh Hwa Competition Risk-Adjusted Indicators

There is a big difference between Fuh Etf performing well and Fuh Hwa ETF 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 Fuh Hwa'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.59 (0.03) 0.00 (0.10) 0.00 
 2.57 
 8.90 
MSFT  1.10 (0.17) 0.00 (0.32) 0.00 
 2.58 
 10.31 
UBER  1.89  0.35  0.16  0.60  2.15 
 4.72 
 12.75 
F  1.47  0.08  0.03  0.00  2.22 
 2.71 
 10.14 
T  1.05  0.27  0.17  0.42  1.61 
 1.90 
 11.66 
A  1.16 (0.17) 0.00 (0.26) 0.00 
 2.92 
 9.03 
CRM  1.38 (0.29) 0.00 (0.33) 0.00 
 2.72 
 8.88 
JPM  1.10  0.07  0.04 (0.01) 1.72 
 1.99 
 6.85 
MRK  1.15 (0.08) 0.00  1.02  0.00 
 2.07 
 11.58 
XOM  1.07  0.10  0.10  0.15  1.40 
 2.55 
 5.89 

Be your own money manager

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