Hunt Electronic Correlations

3297 Stock

TWD 22.30 0.60 2.62%

The current 90-days correlation between Hunt Electronic and ALFORMER Industrial Co is 0.09 (i.e., Significant diversification). The correlation of Hunt Electronic 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.

Hunt Electronic Correlation With Market

Significant diversification

The correlation between Hunt Electronic 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 Hunt Electronic Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hunt Stock

0.9	3669	AVer Information	Pair Corr
0.71	3128	Hi Sharp Electronics	Pair Corr
0.89	4108	Phytohealth Corp	Pair Corr
0.68	5215	Ko Ja Cayman	Pair Corr
0.75	8086	Advanced Wireless	Pair Corr
0.82	3206	Kingstate Electronics	Pair Corr
0.61	4702	Allied Industrial	Pair Corr
0.69	0051	YuantaP shares Taiwan	Pair Corr

Moving against Hunt Stock

0.7	2345	Accton Technology Corp	Pair Corr
0.57	6674	Compal Broadband Networks	Pair Corr
0.54	3454	Vivotek	Pair Corr
0.45	1591	Inmax Holding	Pair Corr
0.32	3257	Champion Microelectronic	Pair Corr
0.31	0050	YuantaP shares Taiwan	Pair Corr

Related Correlations Analysis

	3293	6506	9907	8240	4558	6657	4109
3293		0.6	0.35	0.69	0.44	0.09	-0.6	3293
6506	0.6		0.5	0.19	0.01	0.07	0.01	6506
9907	0.35	0.5		-0.26	-0.36	0.0	0.28	9907
8240	0.69	0.19	-0.26		0.78	0.01	-0.8	8240
4558	0.44	0.01	-0.36	0.78		-0.16	-0.68	4558
6657	0.09	0.07	0.0	0.01	-0.16		-0.13	6657
4109	-0.6	0.01	0.28	-0.8	-0.68	-0.13		4109
	3293	6506	9907	8240	4558	6657	4109

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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

4558	+ 0.78	8240
8240	+ 0.69	3293
6506	+ 0.6	3293
9907	+ 0.5	6506
4558	+ 0.44	3293
9907	+ 0.35	3293

High negative correlations

4109	- 0.8	8240
4109	- 0.68	4558
4109	- 0.6	3293
4558	- 0.36	9907
8240	- 0.26	9907
6657	- 0.16	4558

Risk-Adjusted Indicators

There is a big difference between Hunt Stock performing well and Hunt Electronic 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 Hunt Electronic'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
3293	1.97	0.34	0.10	1.51	1.97	(2.47)	4.30	(3.47)	15.73
6506	1.70	(0.02)	(0.04)	0.03	2.29	(2.02)	3.19	(3.65)	17.28
9907	0.94	(0.11)	0.00	(0.77)	0.00	0.00	2.24	(1.87)	9.68
8240	2.80	0.39	0.09	0.59	3.64	(3.39)	8.62	(8.19)	19.87
4558	2.93	0.54	0.10	(1.09)	3.14	(3.81)	9.92	(5.78)	19.88
6657	0.99	0.11	0.03	0.46	0.94	(1.41)	3.34	(1.53)	7.92
4109	1.33	(0.41)	0.00	(0.75)	0.00	0.00	2.78	(3.42)	7.70

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hunt Electronic 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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