LIWANLI Innovation Correlations

3054 Stock

TWD 22.30 0.45 2.06%

The current 90-days correlation between LIWANLI Innovation and Edimax Technology Co is 0.07 (i.e., Significant diversification). The correlation of LIWANLI Innovation 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.

LIWANLI Innovation Correlation With Market

Significant diversification

The correlation between LIWANLI Innovation Co and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LIWANLI Innovation Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against LIWANLI Stock

0.69	3679	Nishoku Technology	Pair Corr
0.63	4142	Adimmune Corp	Pair Corr
0.58	2758	Louisa Professional	Pair Corr
0.57	5903	Taiwan FamilyMart	Pair Corr
0.54	1815	Fulltech Fiber Glass	Pair Corr
0.54	1477	Makalot Industrial	Pair Corr
0.49	6148	Azion	Pair Corr
0.48	4951	Feature Integration	Pair Corr
0.46	8096	CoAsia Microelectronics	Pair Corr
0.42	9930	CHC Resources Corp	Pair Corr
0.42	2007	Yieh Hsing Enterprise	Pair Corr
0.41	9941	Yulon Finance Corp	Pair Corr
0.4	8109	P Duke Technology	Pair Corr
0.4	8234	NEXCOM International	Pair Corr
0.39	6486	Interactive Digital	Pair Corr
0.39	6156	Song Shang Electronics	Pair Corr
0.37	1731	Maywufa	Pair Corr
0.36	4175	MedFirst Healthcare	Pair Corr
0.32	6763	Green World Fintech	Pair Corr
0.68	910322	Tingyi Holding Corp Earnings Call This Week	Pair Corr
0.59	9927	Thye Ming Industrial	Pair Corr
0.59	3264	Ardentec	Pair Corr
0.52	4111	Chi Sheng Chemical	Pair Corr
0.49	1338	Hiroca Holdings	Pair Corr
0.44	3088	Axiomtek	Pair Corr
0.43	4943	Concraft Holding	Pair Corr
0.42	9933	CTCI Corp	Pair Corr
0.4	2924	Cayman Tung Ling	Pair Corr
0.38	2617	Taiwan Navigation	Pair Corr
0.37	2009	First Copper Technology	Pair Corr

Related Correlations Analysis

	3041	3059	3047	3014	3031
3041		-0.02	0.07	0.02	0.09	3041
3059	-0.02		-0.58	0.65	0.56	3059
3047	0.07	-0.58		-0.08	-0.31	3047
3014	0.02	0.65	-0.08		0.38	3014
3031	0.09	0.56	-0.31	0.38		3031
	3041	3059	3047	3014	3031

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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

3014	+ 0.65	3059
3031	+ 0.56	3059
3031	+ 0.38	3014
3031	+ 0.09	3041
3047	+ 0.07	3041
3014	+ 0.02	3041

High negative correlations

3047	- 0.58	3059
3031	- 0.31	3047
3014	- 0.08	3047
3059	- 0.02	3041

Risk-Adjusted Indicators

There is a big difference between LIWANLI Stock performing well and LIWANLI Innovation 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 LIWANLI Innovation'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
3041	3.09	0.24	0.11	(0.87)	3.06	(4.20)	9.94	(5.14)	19.88
3059	2.49	0.57	0.26	1.92	1.91	(3.15)	9.89	(3.20)	15.82
3047	1.58	(0.37)	0.00	9.63	0.00	0.00	3.62	(3.19)	9.31
3014	1.17	0.10	0.10	0.34	1.51	(1.37)	2.46	(2.01)	7.98
3031	1.71	(0.04)	0.00	0.04	0.00	0.00	3.89	(3.53)	11.70

Be your own money manager

Our tools can tell you how much better you can do entering a position in LIWANLI Innovation 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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