Gigasolar Materials Correlations
| 3691 Stock | TWD 82.50 0.60 0.72% |
The current 90-days correlation between Gigasolar Materials and Symtek Automation Asia is 0.22 (i.e., Modest diversification). The correlation of Gigasolar Materials 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.
Gigasolar Materials Correlation With Market
Average diversification
The correlation between Gigasolar Materials 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 Gigasolar Materials and DJI in the same portfolio, assuming nothing else is changed.
Gigasolar |
The ability to find closely correlated positions to Gigasolar Materials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gigasolar Materials 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 Gigasolar Materials - 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 Gigasolar Materials to buy it.
Moving together with Gigasolar Stock
| 0.86 | 3576 | United Renewable Energy | PairCorr |
| 0.93 | 6443 | TSEC Corp | PairCorr |
| 0.74 | 6244 | Motech Industries | PairCorr |
| 0.96 | 4934 | Tainergy Tech | PairCorr |
| 0.7 | 3713 | Hsinjing Holding | PairCorr |
| 0.69 | 3686 | Danen Technology Corp | PairCorr |
| 0.67 | 1516 | Falcon Power Split | PairCorr |
| 0.72 | 2891C | CTBC Financial Holding | PairCorr |
| 0.69 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against Gigasolar Stock
| 0.9 | 2881A | Fubon Financial Holding | PairCorr |
| 0.81 | 2891 | CTBC Financial Holding | PairCorr |
| 0.8 | 2891B | CTBC Financial Holding | PairCorr |
| 0.77 | 2882B | Cathay Financial Holding | PairCorr |
| 0.5 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.5 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.46 | 2882A | Cathay Financial Holding | PairCorr |
| 0.45 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.35 | 2881B | Fubon Financial Holding | PairCorr |
| 0.33 | 2882 | Cathay Financial Holding | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Gigasolar Stock performing well and Gigasolar Materials 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 Gigasolar Materials' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 3691 | 1.55 | (0.28) | 0.00 | (0.76) | 0.00 | 2.72 | 9.70 | |||
| 3686 | 2.09 | (0.21) | 0.00 | (2.05) | 0.00 | 3.56 | 17.13 | |||
| 1516 | 1.28 | (0.15) | 0.00 | (0.49) | 0.00 | 1.98 | 13.27 | |||
| 9945 | 0.93 | 0.03 | (0.05) | 0.36 | 1.14 | 1.80 | 7.35 | |||
| 6438 | 2.74 | 0.73 | 0.23 | 3.64 | 2.10 | 9.79 | 17.42 | |||
| 9933 | 0.66 | (0.26) | 0.00 | 1.09 | 0.00 | 1.53 | 3.64 | |||
| 6697 | 1.35 | 0.16 | 0.04 | 0.55 | 1.60 | 3.46 | 15.29 | |||
| 6209 | 0.95 | 0.00 | (0.05) | 0.12 | 1.15 | 1.98 | 5.38 | |||
| 9921 | 1.69 | (0.66) | 0.00 | (4.26) | 0.00 | 2.38 | 14.43 | |||
| 9908 | 0.17 | (0.02) | 0.00 | (0.33) | 0.00 | 0.33 | 1.16 |
Be your own money manager
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