Maywufa Correlations

1731 Stock

TWD 23.00 0.15 0.65%

The current 90-days correlation between Maywufa and WiseChip Semiconductor is 0.16 (i.e., Average diversification). The correlation of Maywufa 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.

Maywufa Correlation With Market

Significant diversification

The correlation between Maywufa Co and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Maywufa Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Maywufa could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Maywufa 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 Maywufa - 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 Maywufa Co to buy it.

Moving together with Maywufa Stock

0.82	2409	AU Optronics	Pair Corr
0.69	2303	United Microelectronics	Pair Corr
0.72	1303	Nan Ya Plastics	Pair Corr
0.8	0051	YuantaP shares Taiwan	Pair Corr

Moving against Maywufa Stock

0.62	2603	Evergreen Marine Corp	Pair Corr
0.52	2609	Yang Ming Marine	Pair Corr

Related Correlations Analysis

	1227	1216	1210	9945	5245	3034	3058	3152	6697	6209
1227		0.33	-0.18	0.66	0.72	0.54	0.75	0.34	-0.51	0.71	1227
1216	0.33		-0.67	0.63	0.7	0.62	0.61	-0.04	-0.14	0.51	1216
1210	-0.18	-0.67		-0.59	-0.57	-0.63	-0.65	0.31	0.25	-0.33	1210
9945	0.66	0.63	-0.59		0.69	0.6	0.75	0.12	-0.4	0.76	9945
5245	0.72	0.7	-0.57	0.69		0.75	0.78	0.2	-0.43	0.75	5245
3034	0.54	0.62	-0.63	0.6	0.75		0.7	0.09	-0.59	0.67	3034
3058	0.75	0.61	-0.65	0.75	0.78	0.7		-0.09	-0.44	0.63	3058
3152	0.34	-0.04	0.31	0.12	0.2	0.09	-0.09		-0.25	0.44	3152
6697	-0.51	-0.14	0.25	-0.4	-0.43	-0.59	-0.44	-0.25		-0.42	6697
6209	0.71	0.51	-0.33	0.76	0.75	0.67	0.63	0.44	-0.42		6209
	1227	1216	1210	9945	5245	3034	3058	3152	6697	6209

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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

3058	+ 0.78	5245
6209	+ 0.76	9945
3058	+ 0.75	1227
3058	+ 0.75	9945
3034	+ 0.75	5245
6209	+ 0.75	5245

High negative correlations

1210	- 0.67	1216
3058	- 0.65	1210
3034	- 0.63	1210
6697	- 0.59	3034
9945	- 0.59	1210
5245	- 0.57	1210

Risk-Adjusted Indicators

There is a big difference between Maywufa Stock performing well and Maywufa 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 Maywufa'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
1227	0.46	(0.03)	0.00	(2.42)	0.00	0.00	1.20	(0.92)	3.26
1216	0.84	(0.03)	0.00	0.61	0.00	0.00	1.82	(1.66)	4.32
1210	0.48	0.05	(0.04)	2.40	0.66	(0.56)	1.15	(1.12)	4.45
9945	0.94	(0.04)	0.00	(0.28)	0.00	0.00	1.56	(2.24)	7.35
5245	1.47	(0.09)	0.00	0.76	0.00	0.00	2.89	(3.44)	14.50
3034	1.02	(0.15)	0.00	(0.74)	0.00	0.00	1.91	(2.55)	6.30
3058	1.36	(0.19)	0.00	2.71	0.00	0.00	2.79	(2.89)	8.09
3152	2.04	0.26	0.05	(0.32)	1.86	(2.61)	4.76	(2.95)	12.61
6697	1.35	0.13	0.04	0.46	1.60	(1.70)	3.46	(2.27)	15.29
6209	0.94	0.00	(0.05)	0.08	1.13	(1.07)	1.98	(1.75)	5.38

Be your own money manager

Our tools can tell you how much better you can do entering a position in Maywufa 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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