Amtran Technology Correlations

2489 Stock

TWD 18.80 0.10 0.53%

The current 90-days correlation between Amtran Technology and Double Bond Chemical is 0.08 (i.e., Significant diversification). The correlation of Amtran Technology 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.

Amtran Technology Correlation With Market

Good diversification

The correlation between Amtran Technology Co and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amtran Technology Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Amtran Stock

0.9	2317	Hon Hai Precision	Pair Corr
0.79	9904	Pou Chen Corp	Pair Corr

Moving against Amtran Stock

0.57	2881B	Fubon Financial Holding	Pair Corr
0.57	0050	YuantaP shares Taiwan	Pair Corr
0.56	910322	Tingyi Holding Corp	Pair Corr
0.54	0053	YuantaP shares Taiwan	Pair Corr
0.5	0057	Fubon MSCI Taiwan	Pair Corr
0.47	2882B	Cathay Financial Holding Earnings Call This Week	Pair Corr
0.44	2881A	Fubon Financial Holding	Pair Corr
0.42	3711	ASE Industrial Holding	Pair Corr

Related Correlations Analysis

	4764	1466	6190	4707	3631	6142	2440	8028
4764		-0.13	0.34	-0.14	0.16	-0.32	-0.54	0.36	4764
1466	-0.13		0.28	0.81	0.77	0.33	0.56	0.35	1466
6190	0.34	0.28		0.51	0.21	0.58	0.25	0.84	6190
4707	-0.14	0.81	0.51		0.71	0.47	0.68	0.48	4707
3631	0.16	0.77	0.21	0.71		0.08	0.32	0.24	3631
6142	-0.32	0.33	0.58	0.47	0.08		0.59	0.37	6142
2440	-0.54	0.56	0.25	0.68	0.32	0.59		0.19	2440
8028	0.36	0.35	0.84	0.48	0.24	0.37	0.19		8028
	4764	1466	6190	4707	3631	6142	2440	8028

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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

8028	+ 0.84	6190
4707	+ 0.81	1466
3631	+ 0.77	1466
3631	+ 0.71	4707
2440	+ 0.68	4707
2440	+ 0.59	6142

High negative correlations

2440	- 0.54	4764
6142	- 0.32	4764
4707	- 0.14	4764
1466	- 0.13	4764

Risk-Adjusted Indicators

There is a big difference between Amtran Stock performing well and Amtran Technology 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 Amtran Technology'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
4764	0.66	0.12	0.16	(2.04)	0.61	(0.77)	1.93	(1.35)	4.35
1466	1.51	0.07	0.04	0.36	2.07	(1.54)	2.91	(3.44)	15.17
6190	1.24	0.17	0.13	(1.03)	1.44	(1.36)	2.78	(2.53)	7.43
4707	0.41	(0.01)	0.02	0.13	0.57	(0.65)	1.07	(0.72)	3.29
3631	1.54	0.03	0.02	0.15	2.02	(2.07)	4.52	(4.07)	15.52
6142	2.04	0.10	0.05	(0.20)	2.31	(2.62)	5.36	(4.48)	15.69
2440	1.08	(0.12)	0.00	0.15	0.00	0.00	2.44	(2.39)	8.36
8028	2.56	0.51	0.21	(2.01)	2.32	(3.34)	7.95	(4.90)	13.93

Be your own money manager

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