Macronix International Correlations

2337 Stock  TWD 22.65  1.15  5.35%   
The current 90-days correlation between Macronix International and Winbond Electronics Corp is 0.56 (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.

Macronix International Correlation With Market

Modest diversification

The correlation between Macronix International Co and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Macronix International Co and DJI in the same portfolio, assuming nothing else is changed.
  
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 together with Macronix Stock

  0.864938 Pegatron CorpPairCorr
  0.613702 WPG HoldingsPairCorr
  0.630051 YuantaP shares TaiwanPairCorr

Moving against Macronix Stock

  0.812324 Compal ElectronicsPairCorr
  0.743231 Wistron CorpPairCorr
  0.672882B Cathay Financial HoldingPairCorr
  0.643702A WPG HoldingsPairCorr
  0.512382 Quanta ComputerPairCorr
  0.422317 Hon Hai PrecisionPairCorr
  0.410050 YuantaP shares TaiwanPairCorr
  0.382330 Taiwan SemiconductorPairCorr
  0.360057 Fubon MSCI 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   
23032344
23882303
23882344
23242342
  
High negative correlations   
23242303
23242344
23242388
23422344
23422303
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.

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