Thinking Electronic Correlations

2428 Stock   155.50  3.00  1.89%   
The current 90-days correlation between Thinking Electronic and Greatek Electronics is 0.36 (i.e., Weak diversification). The correlation of Thinking Electronic 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.

Thinking Electronic Correlation With Market

Modest diversification

The correlation between Thinking Electronic Industrial and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thinking Electronic Industrial and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Thinking Electronic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Thinking Electronic 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 Thinking Electronic - 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 Thinking Electronic Industrial to buy it.

Moving together with Thinking Stock

  0.823034 Novatek MicroelectronicsPairCorr
  0.942327 Yageo CorpPairCorr
  0.715274 Aspeed TechnologyPairCorr
  0.80051 YuantaP shares TaiwanPairCorr

Moving against Thinking Stock

  0.772603 Evergreen Marine CorpPairCorr
  0.712609 Yang Ming MarinePairCorr
  0.683533 LotesPairCorr
  0.656669 Wiwynn CorpPairCorr
  0.472454 MediaTekPairCorr
  0.410050 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   
24416224
30232441
30236224
24216224
24212441
24212383
  
High negative correlations   
23836224
30232421
30232383
23832441

Risk-Adjusted Indicators

There is a big difference between Thinking Stock performing well and Thinking Electronic 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 Thinking Electronic'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 Thinking Electronic 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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