Magnate Technology Correlations

4541 Stock

TWD 34.20 1.35 4.11%

The current 90-days correlation between Magnate Technology and Promise Technology is -0.12 (i.e., Good diversification). The correlation of Magnate 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.

Magnate Technology Correlation With Market

Average diversification

The correlation between Magnate Technology Co and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magnate Technology Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Magnate 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 Magnate 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 Magnate 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 Magnate Technology Co to buy it.

Moving together with Magnate Stock

0.86	2882B	Cathay Financial Holding	Pair Corr
0.7	2882A	Cathay Financial Holding	Pair Corr
0.86	2881A	Fubon Financial Holding	Pair Corr
0.61	2891B	CTBC Financial Holding	Pair Corr
0.88	2891	CTBC Financial Holding	Pair Corr
0.72	2330	Taiwan Semiconductor	Pair Corr
0.74	0050	YuantaP shares Taiwan	Pair Corr
0.7	0057	Fubon MSCI Taiwan	Pair Corr

Moving against Magnate Stock

0.72	2634	Aerospace Industrial	Pair Corr
0.56	2891C	CTBC Financial Holding	Pair Corr
0.51	2888	Shin Kong Financial	Pair Corr
0.35	0051	YuantaP shares Taiwan	Pair Corr
0.34	2208	CSBC Corp Taiwan	Pair Corr
0.33	4546	Chaheng Precision	Pair Corr

Related Correlations Analysis

	3057	1720	4711	6166	6229	4163	3285
3057		-0.12	0.58	-0.26	0.75	-0.13	0.64	3057
1720	-0.12		0.37	0.0	0.24	0.06	-0.1	1720
4711	0.58	0.37		-0.46	0.71	-0.24	0.17	4711
6166	-0.26	0.0	-0.46		-0.4	0.14	0.06	6166
6229	0.75	0.24	0.71	-0.4		-0.2	0.63	6229
4163	-0.13	0.06	-0.24	0.14	-0.2		-0.18	4163
3285	0.64	-0.1	0.17	0.06	0.63	-0.18		3285
	3057	1720	4711	6166	6229	4163	3285

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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

6229	+ 0.75	3057
6229	+ 0.71	4711
3285	+ 0.64	3057
3285	+ 0.63	6229
4711	+ 0.58	3057
4711	+ 0.37	1720

High negative correlations

6166	- 0.46	4711
6229	- 0.4	6166
6166	- 0.26	3057
4163	- 0.24	4711
4163	- 0.2	6229
3285	- 0.18	4163

Risk-Adjusted Indicators

There is a big difference between Magnate Stock performing well and Magnate 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 Magnate 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
3057	0.93	0.04	(0.07)	0.01	1.14	(1.10)	1.69	(2.29)	6.38
1720	0.60	(0.02)	0.00	0.72	0.00	0.00	1.60	(1.09)	6.32
4711	1.50	(0.04)	0.00	(3.81)	0.00	0.00	2.70	(3.65)	14.98
6166	1.36	0.22	0.07	(1.62)	1.41	(1.57)	2.85	(2.85)	8.48
6229	1.89	(0.04)	0.00	(1.13)	0.00	0.00	3.52	(3.57)	15.41
4163	0.53	(0.06)	0.00	(0.95)	0.00	0.00	1.33	(1.28)	3.90
3285	1.32	0.00	(0.03)	0.09	1.48	(1.78)	4.36	(3.06)	15.18

Be your own money manager

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