GenMont Biotech Correlations

3164 Stock

TWD 20.15 0.15 0.74%

The current 90-days correlation between GenMont Biotech and Apex Biotechnology Corp is 0.25 (i.e., Modest diversification). The correlation of GenMont Biotech 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.

GenMont Biotech Correlation With Market

Good diversification

The correlation between GenMont Biotech and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GenMont Biotech and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with GenMont Stock

0.73	2891C	CTBC Financial Holding	Pair Corr
0.71	0051	YuantaP shares Taiwan	Pair Corr

Moving against GenMont Stock

0.92	2881A	Fubon Financial Holding	Pair Corr
0.86	2891	CTBC Financial Holding	Pair Corr
0.85	2891B	CTBC Financial Holding	Pair Corr
0.82	2882B	Cathay Financial Holding	Pair Corr
0.56	0050	YuantaP shares Taiwan	Pair Corr
0.53	2330	Taiwan Semiconductor	Pair Corr
0.5	0057	Fubon MSCI Taiwan	Pair Corr
0.48	2882A	Cathay Financial Holding	Pair Corr
0.47	2881B	Fubon Financial Holding	Pair Corr
0.37	2882	Cathay Financial Holding	Pair Corr

Related Correlations Analysis

	1733	9945	5245	3034	3058	3152	6697	6209	9921	2882A
1733		0.78	0.79	0.76	0.86	0.02	-0.42	0.69	0.85	-0.4	1733
9945	0.78		0.69	0.6	0.75	0.12	-0.4	0.76	0.73	-0.39	9945
5245	0.79	0.69		0.75	0.78	0.2	-0.43	0.75	0.87	-0.44	5245
3034	0.76	0.6	0.75		0.7	0.09	-0.59	0.67	0.81	-0.26	3034
3058	0.86	0.75	0.78	0.7		-0.09	-0.44	0.63	0.86	-0.63	3058
3152	0.02	0.12	0.2	0.09	-0.09		-0.25	0.44	0.15	0.16	3152
6697	-0.42	-0.4	-0.43	-0.59	-0.44	-0.25		-0.42	-0.58	0.29	6697
6209	0.69	0.76	0.75	0.67	0.63	0.44	-0.42		0.69	-0.25	6209
9921	0.85	0.73	0.87	0.81	0.86	0.15	-0.58	0.69		-0.62	9921
2882A	-0.4	-0.39	-0.44	-0.26	-0.63	0.16	0.29	-0.25	-0.62		2882A
	1733	9945	5245	3034	3058	3152	6697	6209	9921	2882A

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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	+ 0.87	5245
3058	+ 0.86	1733
9921	+ 0.86	3058
9921	+ 0.85	1733
9921	+ 0.81	3034
5245	+ 0.79	1733

High negative correlations

2882A	- 0.63	3058
2882A	- 0.62	9921
6697	- 0.59	3034
9921	- 0.58	6697
6697	- 0.44	3058
2882A	- 0.44	5245

Risk-Adjusted Indicators

There is a big difference between GenMont Stock performing well and GenMont Biotech 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 GenMont Biotech'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
1733	0.62	(0.11)	0.00	(0.38)	0.00	0.00	1.53	(1.40)	5.06
9945	0.94	(0.04)	0.00	(0.28)	0.00	0.00	1.56	(2.24)	7.35
5245	1.47	(0.09)	0.00	0.76	0.00	0.00	2.89	(3.44)	14.50
3034	1.02	(0.15)	0.00	(0.74)	0.00	0.00	1.91	(2.55)	6.30
3058	1.36	(0.19)	0.00	2.71	0.00	0.00	2.79	(2.89)	8.09
3152	2.04	0.26	0.05	(0.32)	1.86	(2.61)	4.76	(2.95)	12.61
6697	1.35	0.13	0.04	0.46	1.60	(1.70)	3.46	(2.27)	15.29
6209	0.94	0.00	(0.05)	0.08	1.13	(1.07)	1.98	(1.75)	5.38
9921	1.62	(0.58)	0.00	(2.70)	0.00	0.00	2.38	(4.49)	14.43
2882A	0.10	0.01	(0.37)	0.52	0.00	(0.27)	0.33	(0.16)	0.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in GenMont Biotech 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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