Uniform Industrial Correlations

2482 Stock  TWD 24.80  0.20  0.80%   
The current 90-days correlation between Uniform Industrial Corp and Zinwell is 0.61 (i.e., Poor diversification). The correlation of Uniform Industrial 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 Uniform Industrial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Uniform Industrial 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 Uniform Industrial - 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 Uniform Industrial Corp to buy it.

Moving together with Uniform Stock

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Moving against Uniform Stock

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  0.642330 Taiwan SemiconductorPairCorr
  0.622885 Yuanta Financial HoldingsPairCorr
  0.612891 CTBC Financial HoldingPairCorr
  0.52882A Cathay Financial HoldingPairCorr
  0.492884 ESUN Financial Holding Earnings Call This WeekPairCorr
  0.490050 YuantaP shares TaiwanPairCorr
  0.422892 First Financial HoldingPairCorr
  0.380057 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   
24062485
24062450
24502485
30132406
30132450
30132485
  
High negative correlations   
24062417
24172450
24172485
30132417

Risk-Adjusted Indicators

There is a big difference between Uniform Stock performing well and Uniform Industrial 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 Uniform Industrial'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 Uniform Industrial 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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Risk-Return Analysis

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