Orient Europharma Correlations

4120 Stock

TWD 48.10 0.30 0.63%

The current 90-days correlation between Orient Europharma and Sporton International is -0.01 (i.e., Good diversification). The correlation of Orient Europharma 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.

Orient Europharma Correlation With Market

Significant diversification

The correlation between Orient Europharma Co and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orient Europharma Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Orient Stock

0.48	3711	ASE Industrial Holding	Pair Corr
0.42	2330	Taiwan Semiconductor	Pair Corr
0.33	0050	YuantaP shares Taiwan	Pair Corr
0.32	0057	Fubon MSCI Taiwan	Pair Corr
0.31	2609	Yang Ming Marine	Pair Corr

Related Correlations Analysis

	4205	6146	5703	4109	2104	8044	2707
4205		0.63	0.5	0.82	0.84	-0.53	0.71	4205
6146	0.63		0.59	0.71	0.47	-0.7	0.88	6146
5703	0.5	0.59		0.54	0.43	-0.69	0.69	5703
4109	0.82	0.71	0.54		0.88	-0.47	0.83	4109
2104	0.84	0.47	0.43	0.88		-0.32	0.64	2104
8044	-0.53	-0.7	-0.69	-0.47	-0.32		-0.58	8044
2707	0.71	0.88	0.69	0.83	0.64	-0.58		2707
	4205	6146	5703	4109	2104	8044	2707

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

2707	+ 0.88	6146
2104	+ 0.88	4109
2104	+ 0.84	4205
2707	+ 0.83	4109
4109	+ 0.82	4205
2707	+ 0.71	4205

High negative correlations

8044	- 0.7	6146
8044	- 0.69	5703
2707	- 0.58	8044
8044	- 0.53	4205
8044	- 0.47	4109
8044	- 0.32	2104

Risk-Adjusted Indicators

There is a big difference between Orient Stock performing well and Orient Europharma 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 Orient Europharma'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
4205	0.23	(0.06)	0.00	2.19	0.00	0.00	0.46	(0.56)	2.46
6146	0.83	(0.12)	0.00	(1.10)	0.00	0.00	1.84	(2.03)	4.89
5703	1.14	(0.07)	0.00	0.11	0.00	0.00	2.77	(3.01)	16.98
4109	1.47	(0.51)	0.00	(1.94)	0.00	0.00	2.78	(3.72)	8.52
2104	0.93	(0.45)	0.00	18.77	0.00	0.00	1.66	(2.40)	7.47
8044	3.17	0.63	0.17	1.97	3.08	(4.06)	9.91	(4.95)	19.96
2707	0.62	(0.11)	0.00	0.43	0.00	0.00	1.55	(1.28)	3.90

Be your own money manager

Our tools can tell you how much better you can do entering a position in Orient Europharma 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.

Did you try this?

Run Alpha Finder Now

Alpha Finder

Use alpha and beta coefficients to find investment opportunities after accounting for the risk

All Next

Launch Module

Orient Europharma Corporate Management

Elected by the shareholders, the Orient Europharma's board of directors comprises two types of representatives: Orient Europharma inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Orient. The board's role is to monitor Orient Europharma's management team and ensure that shareholders' interests are well served. Orient Europharma's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Orient Europharma's outside directors are responsible for providing unbiased perspectives on the board's policies.

Liann Lai	Director Division	Profile
Jack Wu	Director	Profile
Phoebe Lee	Chief Officer	Profile
Peter Tsai	CEO Chairman	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC