Optivision Technology Correlations

3666 Stock

TWD 33.65 0.25 0.74%

The current 90-days correlation between Optivision Technology and Power Wind Health is 0.01 (i.e., Significant diversification). The correlation of Optivision 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.

Optivision Technology Correlation With Market

Good diversification

The correlation between Optivision Technology and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optivision Technology and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Optivision 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 Optivision 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 Optivision 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 Optivision Technology to buy it.

Moving together with Optivision Stock

0.63	2597	Ruentex Engineering	Pair Corr
0.62	8072	AV Tech Corp	Pair Corr
0.61	3056	ZongTai Real Estate	Pair Corr
0.68	2545	Huang Hsiang Construction	Pair Corr
0.74	5356	Sirtec International	Pair Corr
0.61	2538	Kee Tai Properties	Pair Corr

Moving against Optivision Stock

0.59	2330	Taiwan Semiconductor	Pair Corr
0.51	0053	YuantaP shares Taiwan	Pair Corr
0.5	0050	YuantaP shares Taiwan	Pair Corr
0.48	0057	Fubon MSCI Taiwan	Pair Corr

Related Correlations Analysis

	5604	2610	2417	4108	5269	8462	6237	4175
5604		-0.21	0.52	0.14	0.61	-0.39	0.49	0.22	5604
2610	-0.21		-0.46	0.06	-0.47	-0.33	-0.23	-0.59	2610
2417	0.52	-0.46		0.3	0.69	-0.21	0.58	0.53	2417
4108	0.14	0.06	0.3		0.08	-0.46	0.44	0.39	4108
5269	0.61	-0.47	0.69	0.08		-0.18	0.62	0.34	5269
8462	-0.39	-0.33	-0.21	-0.46	-0.18		-0.48	-0.12	8462
6237	0.49	-0.23	0.58	0.44	0.62	-0.48		0.53	6237
4175	0.22	-0.59	0.53	0.39	0.34	-0.12	0.53		4175
	5604	2610	2417	4108	5269	8462	6237	4175

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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

5269	+ 0.69	2417
6237	+ 0.62	5269
5269	+ 0.61	5604
6237	+ 0.58	2417
4175	+ 0.53	2417
4175	+ 0.53	6237

High negative correlations

4175	- 0.59	2610
6237	- 0.48	8462
5269	- 0.47	2610
8462	- 0.46	4108
2417	- 0.46	2610
8462	- 0.39	5604

Risk-Adjusted Indicators

There is a big difference between Optivision Stock performing well and Optivision 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 Optivision 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
5604	0.51	(0.04)	0.00	(0.19)	0.00	0.00	1.01	(1.07)	10.81
2610	1.09	(0.10)	0.00	0.78	0.00	0.00	1.93	(2.56)	6.70
2417	2.45	0.21	0.07	(0.84)	2.58	(2.83)	6.58	(5.06)	16.03
4108	0.87	(0.06)	0.00	(0.31)	0.00	0.00	2.40	(2.10)	6.97
5269	1.93	0.15	0.07	0.27	1.88	(2.52)	5.63	(3.07)	14.39
8462	1.22	0.23	0.14	(0.49)	1.25	(1.73)	2.72	(2.27)	15.11
6237	2.58	(0.05)	0.00	(0.36)	0.00	0.00	6.75	(4.05)	17.81
4175	0.73	(0.03)	0.00	(8.34)	0.00	0.00	1.80	(1.36)	3.52

Be your own money manager

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