Tex Ray Correlations

1467 Stock  TWD 10.45  0.05  0.48%   
The current 90-days correlation between Tex Ray Industrial and WiseChip Semiconductor is 0.09 (i.e., Significant diversification). The correlation of Tex Ray 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.

Tex Ray Correlation With Market

Significant diversification

The correlation between Tex Ray Industrial Co and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tex Ray Industrial Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Tex Ray could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tex Ray 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 Tex Ray - 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 Tex Ray Industrial Co to buy it.

Moving together with Tex Stock

  0.610050 YuantaP shares TaiwanPairCorr

Moving against Tex Stock

  0.722712 FarGlory HotelPairCorr
  0.595432 Data InternationalPairCorr
  0.556579 AAEON TechnologyPairCorr
  0.516144 Deltamac TaiwanPairCorr
  0.52227 Yulon Nissan MotorPairCorr
  0.350051 YuantaP shares TaiwanPairCorr

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   
99215245
99213058
52459910
99219910
99213034
30585245
  
High negative correlations   
2882A3058
2882A9921
66973034
99216697
99086697
2882A9910

Risk-Adjusted Indicators

There is a big difference between Tex Stock performing well and Tex Ray 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 Tex Ray'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
9910  1.45  0.04 (0.03)(2.77) 1.54 
 2.79 
 10.18 
9945  0.94 (0.04) 0.00 (0.28) 0.00 
 1.56 
 7.35 
5245  1.47 (0.09) 0.00  0.76  0.00 
 2.89 
 14.50 
3034  1.02 (0.15) 0.00 (0.74) 0.00 
 1.91 
 6.30 
3058  1.36 (0.19) 0.00  2.71  0.00 
 2.79 
 8.09 
6697  1.35  0.13  0.04  0.46  1.60 
 3.46 
 15.29 
6209  0.94  0.00 (0.05) 0.08  1.13 
 1.98 
 5.38 
9921  1.62 (0.58) 0.00 (2.70) 0.00 
 2.38 
 14.43 
2882A  0.10  0.01 (0.37) 0.52  0.00 
 0.33 
 0.82 
9908  0.18 (0.02) 0.00 (0.42) 0.00 
 0.33 
 1.16 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tex Ray 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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Tex Ray Corporate Management

Elected by the shareholders, the Tex Ray's board of directors comprises two types of representatives: Tex Ray inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tex. The board's role is to monitor Tex Ray's management team and ensure that shareholders' interests are well served. Tex Ray'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, Tex Ray's outside directors are responsible for providing unbiased perspectives on the board's policies.
ChinHuei ChangPres DivisionProfile
Senyao LinVice OfficerProfile
TsungYi LinPres COOProfile
Wan YaoDeputy ChairmanProfile
Weihan YangGeneral ManagerProfile
ChienChung WuCFO OfficerProfile
ZuiYeh LinChairman CEOProfile