Gourmet Master Correlations

2723 Stock

TWD 95.10 0.60 0.63%

The current 90-days correlation between Gourmet Master and Tainan Spinning Co is 0.66 (i.e., Poor diversification). The correlation of Gourmet Master 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.

Gourmet Master Correlation With Market

Good diversification

The correlation between Gourmet Master Co and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gourmet Master Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Gourmet Stock

0.72	0050	YuantaP shares Taiwan	Pair Corr
0.62	0053	YuantaP shares Taiwan	Pair Corr
0.73	0057	Fubon MSCI Taiwan	Pair Corr

Moving against Gourmet Stock

0.79	4109	Jia Jie Biomedical	Pair Corr
0.64	2438	Enlight Corp	Pair Corr
0.58	9136	Ju Teng International	Pair Corr
0.53	1734	Sinphar Pharmaceutical Split	Pair Corr

Related Correlations Analysis

	1440	1449	5245	3034	3058	6697	6209	2882A	9908
1440		-0.6	0.72	0.63	0.49	-0.42	0.82	-0.44	0.65	1440
1449	-0.6		-0.72	-0.8	-0.49	0.7	-0.55	0.09	-0.31	1449
5245	0.72	-0.72		0.68	0.63	-0.37	0.61	-0.41	0.42	5245
3034	0.63	-0.8	0.68		0.36	-0.51	0.66	-0.3	0.57	3034
3058	0.49	-0.49	0.63	0.36		-0.26	0.32	-0.38	0.08	3058
6697	-0.42	0.7	-0.37	-0.51	-0.26		-0.29	0.21	-0.39	6697
6209	0.82	-0.55	0.61	0.66	0.32	-0.29		-0.22	0.49	6209
2882A	-0.44	0.09	-0.41	-0.3	-0.38	0.21	-0.22		-0.57	2882A
9908	0.65	-0.31	0.42	0.57	0.08	-0.39	0.49	-0.57		9908
	1440	1449	5245	3034	3058	6697	6209	2882A	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

6209	+ 0.82	1440
5245	+ 0.72	1440
6697	+ 0.7	1449
3034	+ 0.68	5245
6209	+ 0.66	3034
9908	+ 0.65	1440

High negative correlations

3034	- 0.8	1449
5245	- 0.72	1449
1449	- 0.6	1440
9908	- 0.57	2882A
6209	- 0.55	1449
6697	- 0.51	3034

Risk-Adjusted Indicators

There is a big difference between Gourmet Stock performing well and Gourmet Master 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 Gourmet Master'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
1440	0.77	(0.11)	0.00	15.19	0.00	0.00	1.54	(1.58)	5.33
1449	2.37	0.30	0.08	0.90	2.42	(3.62)	9.75	(6.18)	17.79
5245	1.57	(0.15)	0.00	(16.11)	0.00	0.00	2.89	(3.45)	16.35
3034	1.11	(0.22)	0.00	(0.73)	0.00	0.00	1.97	(2.55)	8.21
3058	1.71	0.03	0.00	0.04	0.00	0.00	2.98	(2.89)	15.92
6697	1.23	(0.01)	(0.04)	0.08	1.71	(1.49)	2.33	(2.68)	15.29
6209	1.08	(0.18)	0.00	(0.53)	0.00	0.00	1.98	(2.38)	5.38
2882A	0.09	0.00	(0.55)	0.24	0.00	(0.26)	0.33	(0.16)	0.82
9908	0.19	(0.05)	0.00	(0.74)	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 Gourmet Master 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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