Shin Tai Correlations
| 1235 Stock | TWD 146.00 3.00 2.01% |
The current 90-days correlation between Shin Tai Industry and Great Wall Enterprise is 0.23 (i.e., Modest diversification). The correlation of Shin Tai 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.
Shin Tai Correlation With Market
Significant diversification
The correlation between Shin Tai Industry and DJI 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 Shin Tai Industry and DJI in the same portfolio, assuming nothing else is changed.
Shin |
The ability to find closely correlated positions to Shin Tai could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shin Tai 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 Shin Tai - 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 Shin Tai Industry to buy it.
Moving together with Shin Stock
| 0.81 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.79 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.79 | 0053 | YuantaP shares Taiwan | PairCorr |
Moving against Shin Stock
| 0.9 | 9906 | Hsin Ba Ba Split | PairCorr |
| 0.71 | 2705 | Leofoo Development | PairCorr |
| 0.43 | 2633 | Taiwan High Speed | PairCorr |
Related Correlations Analysis
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