MedFirst Healthcare Correlations

4175 Stock

TWD 64.30 1.00 1.53%

The current 90-days correlation between MedFirst Healthcare and Xxentria Technology Materials is 0.17 (i.e., Average diversification). The correlation of MedFirst Healthcare 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.

MedFirst Healthcare Correlation With Market

Significant diversification

The correlation between MedFirst Healthcare Services and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MedFirst Healthcare Services and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MedFirst Stock

0.66	5871	Chailease Holding	Pair Corr
0.61	0051	YuantaP shares Taiwan	Pair Corr

Moving against MedFirst Stock

0.45

2308

Delta Electronics

Pair Corr

Related Correlations Analysis

	8942	2534	6952	1301	2516	00939	6128	1785
8942		0.11	0.14	0.57	0.9	0.49	0.75	-0.14	8942
2534	0.11		0.23	0.49	0.07	0.6	0.5	0.59	2534
6952	0.14	0.23		0.1	0.13	0.13	0.19	0.36	6952
1301	0.57	0.49	0.1		0.51	0.7	0.72	0.23	1301
2516	0.9	0.07	0.13	0.51		0.28	0.83	-0.19	2516
00939	0.49	0.6	0.13	0.7	0.28		0.46	0.37	00939
6128	0.75	0.5	0.19	0.72	0.83	0.46		0.07	6128
1785	-0.14	0.59	0.36	0.23	-0.19	0.37	0.07		1785
	8942	2534	6952	1301	2516	00939	6128	1785

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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

2516	+ 0.9	8942
6128	+ 0.83	2516
6128	+ 0.75	8942
6128	+ 0.72	1301
00939	+ 0.7	1301
00939	+ 0.6	2534

High negative correlations

1785	- 0.19	2516
1785	- 0.14	8942

Risk-Adjusted Indicators

There is a big difference between MedFirst Stock performing well and MedFirst Healthcare 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 MedFirst Healthcare'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
8942	0.78	0.11	0.14	2.01	0.85	(0.84)	1.83	(1.62)	6.14
2534	0.84	0.00	0.01	0.00	1.61	(0.87)	1.92	(1.89)	8.42
6952	0.94	0.09	0.10	(0.69)	0.95	(1.20)	1.89	(1.43)	10.74
1301	2.12	0.08	0.04	0.12	2.40	(2.33)	5.07	(4.05)	13.00
2516	3.13	0.85	0.18	1.79	3.79	(3.32)	9.73	(7.32)	19.75
00939	0.46	(0.02)	0.00	(1.30)	0.00	0.00	0.86	(1.18)	2.41
6128	0.44	0.10	0.19	(1.30)	0.46	(0.54)	1.36	(1.02)	4.41
1785	1.44	(0.09)	0.00	(0.41)	0.00	0.00	3.78	(3.43)	9.63

Be your own money manager

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