Global PMX Correlations

4551 Stock

TWD 113.00 2.00 1.80%

The current 90-days correlation between Global PMX and Kenda Rubber Industrial is 0.35 (i.e., Weak diversification). The correlation of Global PMX 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.

Global PMX Correlation With Market

Good diversification

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

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

Moving together with Global Stock

0.78

2106

Kenda Rubber Industrial

Pair Corr

Moving against Global Stock

0.55	5288	Eurocharm Holdings	Pair Corr
0.51	2330	Taiwan Semiconductor	Pair Corr
0.43	0050	YuantaP shares Taiwan	Pair Corr
0.4	0053	YuantaP shares Taiwan	Pair Corr
0.38	0057	Fubon MSCI Taiwan	Pair Corr
0.34	6279	Hu Lane Associate	Pair Corr

Related Correlations Analysis

	2106	1319	2231	1536	4551	8255	6279	6605	3552	5288
2106		0.39	-0.41	0.6	0.78	0.27	-0.14	0.32	0.35	-0.64	2106
1319	0.39		-0.69	0.3	0.47	-0.4	-0.45	-0.28	-0.31	-0.65	1319
2231	-0.41	-0.69		-0.46	-0.27	0.21	0.36	0.38	0.54	0.69	2231
1536	0.6	0.3	-0.46		0.37	0.21	-0.21	-0.22	-0.11	-0.69	1536
4551	0.78	0.47	-0.27	0.37		0.16	-0.34	0.24	0.4	-0.55	4551
8255	0.27	-0.4	0.21	0.21	0.16		0.07	0.24	0.29	0.23	8255
6279	-0.14	-0.45	0.36	-0.21	-0.34	0.07		0.45	0.26	0.4	6279
6605	0.32	-0.28	0.38	-0.22	0.24	0.24	0.45		0.82	0.11	6605
3552	0.35	-0.31	0.54	-0.11	0.4	0.29	0.26	0.82		0.07	3552
5288	-0.64	-0.65	0.69	-0.69	-0.55	0.23	0.4	0.11	0.07		5288
	2106	1319	2231	1536	4551	8255	6279	6605	3552	5288

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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

3552	+ 0.82	6605
4551	+ 0.78	2106
5288	+ 0.69	2231
1536	+ 0.6	2106
3552	+ 0.54	2231
4551	+ 0.47	1319

High negative correlations

5288	- 0.69	1536
2231	- 0.69	1319
5288	- 0.65	1319
5288	- 0.64	2106
5288	- 0.55	4551
1536	- 0.46	2231

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global PMX 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 Global PMX'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
2106	0.78	(0.05)	0.00	(10.05)	0.00	0.00	1.89	(1.53)	4.48
1319	1.53	0.21	0.14	1.07	1.56	(2.01)	3.21	(3.08)	9.19
2231	1.42	(0.16)	0.00	0.94	0.00	0.00	1.94	(3.79)	16.82
1536	2.51	0.24	0.12	(15.08)	2.47	(2.82)	6.86	(4.27)	14.95
4551	1.45	(0.06)	0.00	0.88	0.00	0.00	3.70	(2.63)	8.41
8255	1.12	(0.14)	0.00	0.77	0.00	0.00	1.64	(3.43)	8.22
6279	1.25	(0.07)	0.00	(0.50)	0.00	0.00	2.22	(2.85)	7.94
6605	1.45	(0.26)	0.00	(13.21)	0.00	0.00	3.09	(3.16)	11.83
3552	1.13	(0.33)	0.00	(5.35)	0.00	0.00	1.97	(2.73)	5.84
5288	1.02	(0.04)	0.00	0.72	0.00	0.00	2.43	(1.98)	7.88

Be your own money manager

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