Golden Biotechnology Correlations

4132 Stock

TWD 15.10 0.05 0.33%

The current 90-days correlation between Golden Biotechnology and Rexon Industrial Corp is 0.03 (i.e., Significant diversification). The correlation of Golden Biotechnology 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.

Golden Biotechnology Correlation With Market

Average diversification

The correlation between Golden Biotechnology 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 Golden Biotechnology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Golden Stock

0.68	6266	Top Union Electronics	Pair Corr
0.55	1720	Standard Chemical	Pair Corr
0.49	3705	YungShin Global Holding	Pair Corr
0.49	2603	Evergreen Marine Corp	Pair Corr
0.49	2881A	Fubon Financial Holding	Pair Corr
0.49	2882A	Cathay Financial Holding	Pair Corr
0.43	2882B	Cathay Financial Holding	Pair Corr
0.4	1707	Grape King Bio	Pair Corr
0.37	2609	Yang Ming Marine	Pair Corr
0.36	0051	YuantaP shares Taiwan	Pair Corr
0.31	4105	TTY Biopharm	Pair Corr

Related Correlations Analysis

	1456	1515	6590	3260	1563	5403	5014	2852
1456		0.81	0.68	0.78	0.69	0.61	0.79	0.76	1456
1515	0.81		0.87	0.79	0.86	0.86	0.86	0.84	1515
6590	0.68	0.87		0.8	0.9	0.74	0.72	0.88	6590
3260	0.78	0.79	0.8		0.82	0.58	0.8	0.91	3260
1563	0.69	0.86	0.9	0.82		0.78	0.8	0.9	1563
5403	0.61	0.86	0.74	0.58	0.78		0.83	0.65	5403
5014	0.79	0.86	0.72	0.8	0.8	0.83		0.78	5014
2852	0.76	0.84	0.88	0.91	0.9	0.65	0.78		2852
	1456	1515	6590	3260	1563	5403	5014	2852

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Golden Stock performing well and Golden Biotechnology 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 Golden Biotechnology'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
1456	1.29	(0.04)	0.00	0.08	0.00	0.00	2.56	(2.88)	8.61
1515	1.16	0.21	0.19	(0.93)	1.06	(1.42)	2.48	(2.33)	8.11
6590	0.87	0.17	0.20	(0.89)	0.78	(1.18)	2.05	(1.48)	7.98
3260	1.60	0.13	0.07	0.29	1.95	(1.63)	3.71	(3.19)	10.70
1563	1.08	0.23	0.18	(1.40)	1.17	(1.17)	2.10	(2.00)	12.96
5403	0.81	0.13	0.13	(0.61)	0.93	(1.04)	2.05	(1.89)	5.97
5014	1.39	0.04	0.04	0.14	1.50	(1.81)	3.26	(2.81)	9.80
2852	0.83	0.24	0.28	(0.74)	0.68	(1.01)	1.81	(1.39)	7.38

Be your own money manager

Our tools can tell you how much better you can do entering a position in Golden Biotechnology 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 Portfolio Suggestion Now

Portfolio Suggestion

Get suggestions outside of your existing asset allocation including your own model portfolios

All Next

Launch Module

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