Sentronic International Correlations

3232 Stock

TWD 22.95 0.55 2.34%

The current 90-days correlation between Sentronic International and Niching Industrial is 0.09 (i.e., Significant diversification). The correlation of Sentronic International 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.

Sentronic International Correlation With Market

Good diversification

The correlation between Sentronic International and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sentronic International and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sentronic Stock

0.67	6123	GrandTech CG Systems	Pair Corr
0.61	3325	Casing Macron Technology	Pair Corr
0.65	3287	Kworld Computer	Pair Corr
0.68	0051	YuantaP shares Taiwan	Pair Corr

Moving against Sentronic Stock

0.66	2609	Yang Ming Marine	Pair Corr
0.65	2881A	Fubon Financial Holding	Pair Corr
0.56	2603	Evergreen Marine Corp	Pair Corr
0.54	6776	Weblink International	Pair Corr
0.44	2882B	Cathay Financial Holding	Pair Corr
0.42	3224	MetaTech AP	Pair Corr
0.36	2454	MediaTek	Pair Corr

Related Correlations Analysis

	3444	6140	3287	9945	6438	5245	3034	3058	3152	6697
3444		0.32	0.17	0.53	-0.75	0.65	0.66	0.56	0.42	-0.75	3444
6140	0.32		0.35	0.45	-0.51	0.54	0.45	0.34	0.37	0.08	6140
3287	0.17	0.35		0.65	-0.08	0.59	0.52	0.58	-0.1	-0.12	3287
9945	0.53	0.45	0.65		-0.41	0.69	0.6	0.75	0.12	-0.4	9945
6438	-0.75	-0.51	-0.08	-0.41		-0.58	-0.59	-0.58	-0.25	0.49	6438
5245	0.65	0.54	0.59	0.69	-0.58		0.75	0.78	0.2	-0.43	5245
3034	0.66	0.45	0.52	0.6	-0.59	0.75		0.7	0.09	-0.59	3034
3058	0.56	0.34	0.58	0.75	-0.58	0.78	0.7		-0.09	-0.44	3058
3152	0.42	0.37	-0.1	0.12	-0.25	0.2	0.09	-0.09		-0.25	3152
6697	-0.75	0.08	-0.12	-0.4	0.49	-0.43	-0.59	-0.44	-0.25		6697
	3444	6140	3287	9945	6438	5245	3034	3058	3152	6697

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

3058	+ 0.78	5245
3058	+ 0.75	9945
3034	+ 0.75	5245
3058	+ 0.7	3034
5245	+ 0.69	9945
3034	+ 0.66	3444

High negative correlations

6697	- 0.75	3444
6438	- 0.75	3444
6697	- 0.59	3034
3034	- 0.59	6438
3058	- 0.58	6438
5245	- 0.58	6438

Risk-Adjusted Indicators

There is a big difference between Sentronic Stock performing well and Sentronic International 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 Sentronic International'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
3444	1.31	(0.15)	0.00	(0.36)	0.00	0.00	2.40	(2.86)	11.95
6140	1.75	0.11	0.01	25.19	2.10	(2.05)	3.35	(3.53)	13.51
3287	1.58	(0.10)	0.00	(0.44)	0.00	0.00	2.77	(3.71)	14.48
9945	0.94	(0.04)	0.00	(0.28)	0.00	0.00	1.56	(2.24)	7.35
6438	2.74	0.67	0.21	3.22	2.11	(3.67)	9.79	(3.99)	17.42
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

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sentronic International 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.

Did you try this?

Run Money Flow Index Now

Money Flow Index

Determine momentum by analyzing Money Flow Index and other technical indicators

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC