LongDa Construction Correlations

Stocks Taiwan . 
Stock . LongDa Construction Development
5519 Stock  TWD 33.70  0.35  1.03%   
The current 90-days correlation between LongDa Construction and Chien Kuo Construction is 0.09 (i.e., Significant diversification). The correlation of LongDa Construction 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.

LongDa Construction Correlation With Market

Significant diversification

The correlation between LongDa Construction Developmen and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LongDa Construction Developmen and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to LongDa Construction could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LongDa Construction 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 LongDa Construction - 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 LongDa Construction Development to buy it.

Moving together with LongDa Stock

  0.829945 Ruentex DevelopmentPairCorr
  0.799933 CTCI CorpPairCorr
  0.812072 Century Wind PowerPairCorr
  0.792515 BES EngineeringPairCorr
  0.735274 Aspeed TechnologyPairCorr
  0.616409 Voltronic Power TechPairCorr
  0.690051 YuantaP shares TaiwanPairCorr

Moving against LongDa Stock

  0.773661 Alchip TechnologiesPairCorr
  0.736669 Wiwynn CorpPairCorr
  0.672404 United IntegratedPairCorr
  0.666781 Advanced Energy SolutionPairCorr
  0.545536 ActerPairCorr
  0.52597 Ruentex EngineeringPairCorr
  0.460050 YuantaP shares TaiwanPairCorr
  0.432535 Da Cin ConstructionPairCorr
  0.43529 eMemory TechnologyPairCorr
  0.373038 Emerging Display TecPairCorr
  0.360057 Fubon MSCI TaiwanPairCorr

Related Correlations Analysis

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   
2542
+ 0.7
3056
3056
+ 0.65
5515
2535
+ 0.41
2542
2535
+ 0.4
3056
2535
+ 0.38
5515
2542
+ 0.26
5515
  
High negative correlations   
5515
- 0.69
2548
2535
- 0.4
2548
3056
- 0.28
2548

Risk-Adjusted Indicators

There is a big difference between LongDa Stock performing well and LongDa Construction 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 LongDa Construction'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in LongDa Construction 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 Economic Indicators Now

   

Economic Indicators

Top statistical indicators that provide insights into how an economy is performing
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
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY