Wholetech System Correlations

3402 Stock

TWD 103.50 1.00 0.96%

The current 90-days correlation between Wholetech System Hitech and WiseChip Semiconductor is 0.33 (i.e., Weak diversification). The correlation of Wholetech System 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.

Wholetech System Correlation With Market

Average diversification

The correlation between Wholetech System Hitech and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wholetech System Hitech and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	2409	3481	9945	5245	3034	3058	6697	9921	2882A	9908
2409		0.69	0.8	0.76	0.69	0.68	-0.31	0.63	-0.1	0.14	2409
3481	0.69		0.56	0.32	0.1	0.13	0.2	-0.01	0.34	-0.22	3481
9945	0.8	0.56		0.65	0.51	0.67	-0.3	0.59	-0.27	0.24	9945
5245	0.76	0.32	0.65		0.74	0.77	-0.41	0.84	-0.42	0.33	5245
3034	0.69	0.1	0.51	0.74		0.7	-0.59	0.81	-0.27	0.34	3034
3058	0.68	0.13	0.67	0.77	0.7		-0.43	0.85	-0.62	0.44	3058
6697	-0.31	0.2	-0.3	-0.41	-0.59	-0.43		-0.59	0.32	-0.51	6697
9921	0.63	-0.01	0.59	0.84	0.81	0.85	-0.59		-0.64	0.54	9921
2882A	-0.1	0.34	-0.27	-0.42	-0.27	-0.62	0.32	-0.64		-0.48	2882A
9908	0.14	-0.22	0.24	0.33	0.34	0.44	-0.51	0.54	-0.48		9908
	2409	3481	9945	5245	3034	3058	6697	9921	2882A	9908

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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	+ 0.85	3058
9921	+ 0.84	5245
9921	+ 0.81	3034
9945	+ 0.8	2409
3058	+ 0.77	5245
5245	+ 0.76	2409

High negative correlations

2882A	- 0.64	9921
2882A	- 0.62	3058
9921	- 0.59	6697
6697	- 0.59	3034
9908	- 0.51	6697
9908	- 0.48	2882A

Risk-Adjusted Indicators

There is a big difference between Wholetech Stock performing well and Wholetech System 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 Wholetech System'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
2409	1.20	(0.03)	(0.07)	0.04	1.27	(1.44)	2.57	(1.89)	8.17
3481	1.42	0.08	0.03	0.23	1.39	(1.73)	3.03	(2.49)	12.56
9945	0.94	(0.02)	(0.09)	(0.05)	1.18	(1.04)	1.80	(1.85)	7.35
5245	1.54	(0.11)	0.00	0.74	0.00	0.00	2.89	(3.45)	14.50
3034	1.04	(0.12)	0.00	(0.44)	0.00	0.00	1.97	(2.55)	8.21
3058	1.35	(0.17)	0.00	2.02	0.00	0.00	2.79	(2.89)	8.09
6697	1.34	0.16	0.04	0.67	1.59	(1.67)	3.46	(2.27)	15.29
9921	1.66	(0.69)	0.00	(3.07)	0.00	0.00	2.00	(5.13)	14.43
2882A	0.10	0.01	(0.50)	0.50	0.00	(0.26)	0.33	(0.16)	0.82
9908	0.17	(0.02)	0.00	(0.43)	0.00	0.00	0.33	(0.33)	1.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in Wholetech System 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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