Highwealth Construction Correlations

2542 Stock

TWD 47.80 0.15 0.31%

The current 90-days correlation between Highwealth Construction and Ruentex Development Co is 0.61 (i.e., Poor diversification). The correlation of Highwealth Construction 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.

Highwealth Construction Correlation With Market

Average diversification

The correlation between Highwealth Construction Corp and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Highwealth Construction Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Highwealth Stock

0.85

3008

LARGAN Precision

Pair Corr

Moving against Highwealth Stock

0.84	0057	Fubon MSCI Taiwan	Pair Corr
0.81	0053	YuantaP shares Taiwan	Pair Corr
0.8	0050	YuantaP shares Taiwan	Pair Corr
0.72	2454	MediaTek	Pair Corr
0.69	3533	Lotes	Pair Corr
0.59	2603	Evergreen Marine Corp	Pair Corr
0.52	2609	Yang Ming Marine	Pair Corr
0.5	6669	Wiwynn Corp	Pair Corr

Related Correlations Analysis

	2548	9945	1101	6438	9933	6697	6209	9921	9908
2548		0.44	-0.04	-0.87	0.83	-0.63	0.55	0.84	0.86	2548
9945	0.44		0.14	-0.31	0.5	-0.16	0.8	0.51	0.36	9945
1101	-0.04	0.14		0.3	-0.34	-0.03	0.2	-0.3	0.07	1101
6438	-0.87	-0.31	0.3		-0.91	0.54	-0.38	-0.92	-0.75	6438
9933	0.83	0.5	-0.34	-0.91		-0.57	0.58	0.97	0.66	9933
6697	-0.63	-0.16	-0.03	0.54	-0.57		-0.29	-0.5	-0.38	6697
6209	0.55	0.8	0.2	-0.38	0.58	-0.29		0.6	0.51	6209
9921	0.84	0.51	-0.3	-0.92	0.97	-0.5	0.6		0.71	9921
9908	0.86	0.36	0.07	-0.75	0.66	-0.38	0.51	0.71		9908
	2548	9945	1101	6438	9933	6697	6209	9921	9908

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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

9921	+ 0.97	9933
9908	+ 0.86	2548
9921	+ 0.84	2548
9933	+ 0.83	2548
6209	+ 0.8	9945
9908	+ 0.71	9921

High negative correlations

9921	- 0.92	6438
9933	- 0.91	6438
6438	- 0.87	2548
9908	- 0.75	6438
6697	- 0.63	2548
6697	- 0.57	9933

Risk-Adjusted Indicators

There is a big difference between Highwealth Stock performing well and Highwealth Construction 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 Highwealth Construction'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
2548	1.47	(0.26)	0.00	(1.07)	0.00	0.00	2.54	(3.66)	9.90
9945	1.05	(0.16)	0.00	(0.51)	0.00	0.00	1.89	(2.24)	7.35
1101	0.64	0.01	(0.12)	0.25	0.76	(0.74)	1.55	(1.37)	3.96
6438	2.70	0.82	0.26	6.28	1.93	(3.67)	9.79	(3.68)	17.42
9933	0.75	(0.25)	0.00	1.89	0.00	0.00	1.66	(1.67)	5.01
6697	1.23	(0.03)	(0.06)	0.04	1.69	(1.53)	2.33	(2.68)	15.29
6209	1.10	(0.16)	0.00	(0.35)	0.00	0.00	2.16	(2.38)	7.45
9921	1.66	(0.70)	0.00	(2.85)	0.00	0.00	1.99	(5.13)	14.43
9908	0.19	(0.04)	0.00	(0.57)	0.00	0.00	0.33	(0.49)	1.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in Highwealth Construction 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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