Grand Plastic Correlations

3131 Stock

TWD 1,055 10.00 0.96%

The current 90-days correlation between Grand Plastic Technology and Orient Semiconductor Electronics is 0.27 (i.e., Modest diversification). The correlation of Grand Plastic 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.

Grand Plastic Correlation With Market

Average diversification

The correlation between Grand Plastic Technology and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grand Plastic Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Grand Stock

0.64	5483	Sino American Silicon	Pair Corr
0.73	6271	Tong Hsing Electronic	Pair Corr
0.76	2317	Hon Hai Precision	Pair Corr

Moving against Grand Stock

0.88	2881B	Fubon Financial Holding	Pair Corr
0.82	2882B	Cathay Financial Holding	Pair Corr
0.8	3264	Ardentec	Pair Corr
0.77	2881A	Fubon Financial Holding	Pair Corr
0.73	2882A	Cathay Financial Holding	Pair Corr
0.61	2630	Air Asia	Pair Corr
0.6	2441	Greatek Electronics	Pair Corr
0.47	2891	CTBC Financial Holding	Pair Corr
0.44	2458	Elan Microelectronics	Pair Corr
0.42	6239	Powertech Technology	Pair Corr
0.41	2454	MediaTek	Pair Corr
0.33	6266	Top Union Electronics	Pair Corr

Related Correlations Analysis

	6719	5425	2379	2606	2329	3006	3085
6719		0.35	-0.2	-0.47	-0.3	-0.25	0.69	6719
5425	0.35		0.18	-0.19	0.27	0.24	0.06	5425
2379	-0.2	0.18		0.43	0.52	0.49	-0.49	2379
2606	-0.47	-0.19	0.43		0.73	0.76	-0.75	2606
2329	-0.3	0.27	0.52	0.73		0.92	-0.73	2329
3006	-0.25	0.24	0.49	0.76	0.92		-0.68	3006
3085	0.69	0.06	-0.49	-0.75	-0.73	-0.68		3085
	6719	5425	2379	2606	2329	3006	3085

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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

3006	+ 0.92	2329
3006	+ 0.76	2606
2329	+ 0.73	2606
3085	+ 0.69	6719
2329	+ 0.52	2379
3006	+ 0.49	2379

High negative correlations

3085	- 0.75	2606
3085	- 0.73	2329
3085	- 0.68	3006
3085	- 0.49	2379
2606	- 0.47	6719
2329	- 0.3	6719

Risk-Adjusted Indicators

There is a big difference between Grand Stock performing well and Grand Plastic 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 Grand Plastic'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
6719	1.62	(0.15)	0.00	(0.36)	0.00	0.00	2.82	(3.91)	11.62
5425	1.34	(0.15)	0.00	(21.09)	0.00	0.00	2.57	(3.64)	7.72
2379	1.23	0.11	0.06	0.46	1.68	(1.24)	2.40	(2.40)	12.33
2606	2.04	0.35	0.18	0.63	1.61	(2.64)	6.79	(3.12)	14.26
2329	1.93	0.06	0.03	(4.26)	2.09	(2.20)	4.15	(2.97)	9.59
3006	1.64	0.05	0.02	0.17	1.96	(1.92)	3.82	(2.85)	10.37
3085	1.56	(0.25)	0.00	(0.39)	0.00	0.00	3.84	(6.85)	17.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in Grand Plastic 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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