Answer Technology Correlations

3528 Stock   51.20  1.10  2.10%   
The current 90-days correlation between Answer Technology and Niching Industrial is 0.35 (i.e., Weak diversification). The correlation of Answer Technology 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.

Answer Technology Correlation With Market

Average diversification

The correlation between Answer Technology Co and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Answer Technology Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Answer Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Answer Technology 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 Answer Technology - 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 Answer Technology Co to buy it.

Moving together with Answer Stock

  0.616123 GrandTech CG SystemsPairCorr
  0.813444 Niching IndustrialPairCorr

Moving against Answer Stock

  0.662881A Fubon Financial HoldingPairCorr
  0.632882B Cathay Financial HoldingPairCorr
  0.62317 Hon Hai PrecisionPairCorr
  0.552603 Evergreen Marine CorpPairCorr
  0.520050 YuantaP shares TaiwanPairCorr
  0.482881B Fubon Financial HoldingPairCorr
  0.472454 MediaTekPairCorr
  0.452330 Taiwan SemiconductorPairCorr
  0.440057 Fubon MSCI TaiwanPairCorr
  0.42609 Yang Ming MarinePairCorr
  0.362882 Cathay Financial HoldingPairCorr
  0.336776 Weblink InternationalPairCorr
  0.330053 YuantaP shares TaiwanPairCorr

Related Correlations Analysis

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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   
30585245
30589945
30345245
30583034
52459945
30343444
  
High negative correlations   
66973444
64383444
66973034
30346438
30586438
52456438

Risk-Adjusted Indicators

There is a big difference between Answer Stock performing well and Answer Technology 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 Answer Technology'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
3444  1.31 (0.15) 0.00 (0.36) 0.00 
 2.40 
 11.95 
6140  1.75  0.11  0.01  25.19  2.10 
 3.35 
 13.51 
3287  1.58 (0.10) 0.00 (0.44) 0.00 
 2.77 
 14.48 
9945  0.94 (0.04) 0.00 (0.28) 0.00 
 1.56 
 7.35 
6438  2.74  0.67  0.21  3.22  2.11 
 9.79 
 17.42 
5245  1.47 (0.09) 0.00  0.76  0.00 
 2.89 
 14.50 
3034  1.02 (0.15) 0.00 (0.74) 0.00 
 1.91 
 6.30 
3058  1.36 (0.19) 0.00  2.71  0.00 
 2.79 
 8.09 
3152  2.04  0.26  0.05 (0.32) 1.86 
 4.76 
 12.61 
6697  1.35  0.13  0.04  0.46  1.60 
 3.46 
 15.29 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Answer Technology 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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