Wei Chuan Correlations

1201 Stock  TWD 18.30  0.05  0.27%   
The current 90-days correlation between Wei Chuan Foods and Ruentex Development Co is 0.23 (i.e., Modest diversification). The correlation of Wei Chuan 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.

Wei Chuan Correlation With Market

Significant diversification

The correlation between Wei Chuan Foods 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 Wei Chuan Foods and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Wei Chuan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wei Chuan 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 Wei Chuan - 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 Wei Chuan Foods to buy it.

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   
99219933
55349933
55349921
24979921
24979933
24979945
  
High negative correlations   
64149921
64149933
55346414
55346697
66979933
99336127

Risk-Adjusted Indicators

There is a big difference between Wei Stock performing well and Wei Chuan 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 Wei Chuan'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
9945  0.98 (0.02)(0.10)(0.09) 1.27 
 1.80 
 7.35 
6127  2.26  0.23  0.09  0.34  2.39 
 7.04 
 17.53 
9933  0.66 (0.28) 0.00  1.72  0.00 
 1.53 
 3.64 
6697  1.31  0.17  0.03  0.96  1.57 
 3.46 
 15.29 
9921  1.63 (0.69) 0.00 (2.34) 0.00 
 1.99 
 14.43 
6414  1.03  0.17  0.01 (0.98) 1.19 
 2.40 
 6.74 
00794B  0.26 (0.01)(0.32)(0.92) 0.38 
 0.55 
 1.98 
5534  1.62 (0.29) 0.00  3.26  0.00 
 3.68 
 12.00 
2497  1.98 (0.10) 0.00 (0.35) 0.00 
 6.01 
 18.58 
2485  1.12 (0.03)(0.07) 0.07  1.23 
 3.33 
 8.54 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Wei Chuan 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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Wei Chuan Corporate Management

Elected by the shareholders, the Wei Chuan's board of directors comprises two types of representatives: Wei Chuan inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Wei. The board's role is to monitor Wei Chuan's management team and ensure that shareholders' interests are well served. Wei Chuan's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Wei Chuan's outside directors are responsible for providing unbiased perspectives on the board's policies.