Lucky Cement Correlations

1108 Stock  TWD 14.90  0.05  0.33%   
The current 90-days correlation between Lucky Cement and Universal Cement Corp is 0.38 (i.e., Weak diversification). The correlation of Lucky Cement 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.

Lucky Cement Correlation With Market

LuckyDowDiversified AwayLuckyDowDiversified Away100%

Significant diversification

The correlation between Lucky Cement Co and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lucky Cement Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Lucky Cement could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Lucky Cement 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 Lucky Cement - 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 Lucky Cement Co to buy it.

Moving together with Lucky Stock

  0.729962 Yeou Yih SteelPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Lucky Stock performing well and Lucky Cement 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 Lucky Cement'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 Lucky Cement 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.

Did you try this?

Run Equity Forecasting Now

   

Equity Forecasting

Use basic forecasting models to generate price predictions and determine price momentum
All  Next Launch Module

Trending Assets

1110
Southeast Cement
19.95  0.05  0.25 
1109
Hsing Ta Cement
17.75  0.20  1.14 
1102
Asia Cement Corp
41.20  -0.15  -0.36 
1104
Universal Cement Corp
29.40  0.25  0.86