Cipherlab Correlations

Stocks . Taiwan . 
Stock . Cipherlab Co
6160 Stock  TWD 23.60  0.30  1.29%   
The current 90-days correlation between Cipherlab and Gold Rain Enterprises is 0.19 (i.e., Average diversification). The correlation of Cipherlab 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.

Cipherlab Correlation With Market

Significant diversification

The correlation between Cipherlab Co and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cipherlab Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Cipherlab could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cipherlab 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 Cipherlab - 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 Cipherlab Co to buy it.

Moving together with Cipherlab Stock

  0.635258 Castles Technology SplitPairCorr

Moving against Cipherlab Stock

  0.815530 Lungyen Life ServicePairCorr
  0.772379 Realtek SemiconductorPairCorr
  0.746669 Wiwynn CorpPairCorr
  0.662883 China DevelopmentPairCorr
  0.626811 Acer E EnablingPairCorr
  0.615269 Asmedia TechnologyPairCorr
  0.613019 Asia OpticalPairCorr
  0.582850 Shinkong InsurancePairCorr
  0.436223 MPI CorporationPairCorr
  0.382356 Inventec CorpPairCorr
  0.381464 De Licacy IndustrialPairCorr
  0.314503 Gold Rain EnterprisesPairCorr
  0.87910861 Digital China HoldingsPairCorr
  0.818284 Mitake InformationPairCorr
  0.82618 Eva Airways CorpPairCorr
  0.782345 Accton Technology CorpPairCorr
  0.771231 Lian Hwa FoodsPairCorr
  0.712891B CTBC Financial HoldingPairCorr
  0.73036A WT MicroelectronicsPairCorr
  0.562454 MediaTekPairCorr
  0.554571 Khgears InternationalPairCorr
  0.523545 FocalTech SystemsPairCorr
  0.512603 Evergreen Marine CorpPairCorr
  0.473041 ALi Corp SplitPairCorr
  0.445315 United Radiant TechnologyPairCorr
  0.382883B CHINA DEVELOPMENTPairCorr
  0.353217 Argosy ResearchPairCorr
  0.332881B Fubon Financial HoldingPairCorr

Related Correlations Analysis

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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   
6669
+ 0.89
2345
8284
+ 0.89
2345
8284
+ 0.78
6669
2603
+ 0.77
2345
8284
+ 0.77
2603
2354
+ 0.74
8240
  
High negative correlations   
2603
- 0.89
5258
2345
- 0.83
5258
8284
- 0.82
5258
8284
- 0.81
6160
6669
- 0.79
5258
2345
- 0.78
6160

Risk-Adjusted Indicators

There is a big difference between Cipherlab Stock performing well and Cipherlab 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 Cipherlab'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
5258  2.03 (0.59) 0.00 (6.92) 0.00 
 0.00 
 3.75 
(4.55)
 15.59 
4503  1.54  0.19  0.11 (0.38) 1.28 
(2.30)
 5.00 
(2.64)
 13.16 
8342  0.77 (0.04) 0.00 (0.54) 0.00 
 0.00 
 1.25 
(1.88)
 5.91 
6160  1.33 (0.15) 0.00 (1.00) 0.00 
 0.00 
 2.36 
(2.55)
 8.15 
2345  2.11  0.53  0.20  3.25  2.07 
(2.46)
 4.78 
(3.54)
 11.34 
8240  2.94  0.42  0.11  0.72  3.49 
(3.79)
 8.62 
(8.19)
 19.87 
2354  2.20  0.28  0.08  0.26  2.77 
(2.44)
 6.40 
(4.25)
 19.89 
6669  2.35  0.64  0.20  1.25  2.54 
(2.85)
 5.09 
(4.40)
 15.30 
2603  1.71  0.32  0.09 (0.46) 2.40 
(1.92)
 3.69 
(3.39)
 13.66 
8284  0.53  0.07  0.07 (3.16) 0.46 
(0.78)
 1.57 
(0.94)
 3.64 

Be your own money manager

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