Macronix International Correlations

2337 Stock  TWD 21.90  1.45  7.09%   
The current 90-days correlation between Macronix International and Winbond Electronics Corp is 0.54 (i.e., Very weak diversification). The correlation of Macronix International 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.
  
The ability to find closely correlated positions to Macronix International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Macronix International 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 Macronix International - 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 Macronix International Co to buy it.

Moving against Macronix Stock

  0.782881A Fubon Financial HoldingPairCorr
  0.759904 Pou Chen CorpPairCorr
  0.582882B Cathay Financial HoldingPairCorr
  0.382317 Hon Hai PrecisionPairCorr
  0.340050 YuantaP shares TaiwanPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
23882344
23882303
23032344
23242342
  
High negative correlations   
23242303
23242388
23242344
23422303
23422344
23882342

Risk-Adjusted Indicators

There is a big difference between Macronix Stock performing well and Macronix International 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 Macronix International'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Macronix International 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?

Run Portfolio Volatility Now

   

Portfolio Volatility

Check portfolio volatility and analyze historical return density to properly model market risk
All  Next Launch Module