Shinkong Synthetic Correlations
| 1409 Stock | TWD 15.00 0.10 0.67% |
The current 90-days correlation between Shinkong Synthetic Fiber and Tainan Spinning Co is 0.59 (i.e., Very weak diversification). The correlation of Shinkong Synthetic 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.
Shinkong Synthetic Correlation With Market
Significant diversification
The correlation between Shinkong Synthetic Fiber 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 Shinkong Synthetic Fiber and DJI in the same portfolio, assuming nothing else is changed.
Shinkong |
The ability to find closely correlated positions to Shinkong Synthetic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shinkong Synthetic 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 Shinkong Synthetic - 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 Shinkong Synthetic Fiber to buy it.
Moving together with Shinkong Stock
| 0.78 | 9962 | Yeou Yih Steel | PairCorr |
| 0.7 | 5215 | Ko Ja Cayman | PairCorr |
| 0.66 | 6674 | Compal Broadband Networks | PairCorr |
| 0.75 | 3556 | eGalaxeMPIA Technology | PairCorr |
| 0.62 | 3257 | Champion Microelectronic | PairCorr |
Moving against Shinkong Stock
| 0.84 | 2891B | CTBC Financial Holding | PairCorr |
| 0.72 | 2881B | Fubon Financial Holding | PairCorr |
| 0.68 | 4702 | Allied Industrial | PairCorr |
| 0.67 | 2454 | MediaTek | PairCorr |
| 0.61 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.58 | 3008 | LARGAN Precision | PairCorr |
| 0.51 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.48 | 2345 | Accton Technology Corp | PairCorr |
| 0.48 | 2618 | Eva Airways Corp | PairCorr |
| 0.44 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.43 | 3494 | HiTi Digital Split | PairCorr |
| 0.38 | 8086 | Advanced Wireless | PairCorr |
| 0.36 | 5530 | Lungyen Life Service | PairCorr |
| 0.35 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.31 | 1536 | Hota Industrial Mfg | PairCorr |
Related Correlations Analysis
| 0.89 | 0.95 | 0.89 | 0.82 | 1440 | ||
| 0.89 | 0.86 | 0.67 | 0.78 | 1444 | ||
| 0.95 | 0.86 | 0.91 | 0.88 | 1314 | ||
| 0.89 | 0.67 | 0.91 | 0.74 | 1310 | ||
| 0.82 | 0.78 | 0.88 | 0.74 | 1718 | ||
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Risk-Adjusted Indicators
There is a big difference between Shinkong Stock performing well and Shinkong Synthetic 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 Shinkong Synthetic'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 1440 | 0.71 | (0.21) | 0.00 | (0.69) | 0.00 | 1.11 | 5.18 | |||
| 1444 | 0.69 | (0.13) | 0.00 | (1.76) | 0.00 | 1.33 | 6.73 | |||
| 1314 | 1.10 | (0.13) | 0.00 | (0.48) | 0.00 | 2.45 | 5.97 | |||
| 1310 | 1.07 | (0.32) | 0.00 | (0.57) | 0.00 | 2.41 | 6.70 | |||
| 1718 | 0.80 | (0.09) | 0.00 | (0.23) | 0.00 | 1.78 | 5.85 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Shinkong Synthetic 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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Shinkong Synthetic Corporate Management
Elected by the shareholders, the Shinkong Synthetic's board of directors comprises two types of representatives: Shinkong Synthetic inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shinkong. The board's role is to monitor Shinkong Synthetic's management team and ensure that shareholders' interests are well served. Shinkong Synthetic'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, Shinkong Synthetic's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Chen Wen | Assistant Department | Profile | |
| XinYi Tseng | Assistant Department | Profile | |
| Cheng ChinChang | Ex Department | Profile | |
| TongSheng Wu | Chairman CEO | Profile | |
| Lin HsinChang | Deputy Department | Profile | |
| Ta Chin | President | Profile | |
| Lo JungSen | Chief Officer | Profile |