Taiwan Styrene Correlations
| 1310 Stock | TWD 10.25 0.35 3.30% |
The current 90-days correlation between Taiwan Styrene Monomer and Grand Pacific Petrochemical is 0.07 (i.e., Significant diversification). The correlation of Taiwan Styrene 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.
Taiwan Styrene Correlation With Market
Good diversification
The correlation between Taiwan Styrene Monomer and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taiwan Styrene Monomer and DJI in the same portfolio, assuming nothing else is changed.
Taiwan |
The ability to find closely correlated positions to Taiwan Styrene could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taiwan Styrene 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 Taiwan Styrene - 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 Taiwan Styrene Monomer to buy it.
Moving together with Taiwan Stock
| 0.74 | 9962 | Yeou Yih Steel | PairCorr |
| 0.63 | 5871 | Chailease Holding | PairCorr |
| 0.74 | 6505 | Formosa Petrochemical | PairCorr |
| 0.72 | 2886 | Mega Financial Holding | PairCorr |
| 0.63 | 6266 | Top Union Electronics | PairCorr |
Moving against Taiwan Stock
| 0.5 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.46 | 2308 | Delta Electronics | PairCorr |
| 0.42 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.42 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.39 | 0057 | Fubon MSCI Taiwan | PairCorr |
Related Correlations Analysis
| 0.76 | 0.65 | 0.49 | 0.36 | 1312 | ||
| 0.76 | 0.87 | 0.84 | 0.56 | 1304 | ||
| 0.65 | 0.87 | 0.81 | 0.75 | 1308 | ||
| 0.49 | 0.84 | 0.81 | 0.56 | 1314 | ||
| 0.36 | 0.56 | 0.75 | 0.56 | 1313 | ||
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Risk-Adjusted Indicators
There is a big difference between Taiwan Stock performing well and Taiwan Styrene 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 Taiwan Styrene'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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 1312 | 1.52 | 0.02 | 0.03 | 0.05 | 1.62 | 3.11 | 10.40 | |||
| 1304 | 2.27 | (0.02) | 0.00 | (0.13) | 0.00 | 4.59 | 15.12 | |||
| 1308 | 1.74 | (0.11) | 0.00 | (1.14) | 0.00 | 4.76 | 8.86 | |||
| 1314 | 1.29 | (0.04) | 0.00 | (0.26) | 0.00 | 2.35 | 7.20 | |||
| 1313 | 1.66 | (0.12) | 0.00 | (0.84) | 0.00 | 4.01 | 9.61 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Taiwan Styrene 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?
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