Welldone Correlations

6170 Stock

TWD 56.40 2.10 3.59%

The current 90-days correlation between Welldone and Chien Kuo Construction is 0.07 (i.e., Significant diversification). The correlation of Welldone 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.

Welldone Correlation With Market

Good diversification

The correlation between Welldone Co and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Welldone Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Welldone Stock

0.79	2412	Chunghwa Telecom	Pair Corr
0.7	5871	Chailease Holding	Pair Corr
0.77	6294	Tekom Technologies	Pair Corr
0.63	6763	Green World Fintech	Pair Corr
0.74	3128	Hi Sharp Electronics	Pair Corr
0.63	6747	Brighten Optix	Pair Corr
0.81	2109	Hwa Fong Rubber	Pair Corr
0.72	8028	Phoenix Silicon Inte	Pair Corr
0.68	2481	Pan Jit International Earnings Call This Week	Pair Corr
0.85	3023	Sinbon Electronics Earnings Call Tomorrow	Pair Corr
0.72	0051	YuantaP shares Taiwan	Pair Corr

Moving against Welldone Stock

0.33

2308

Delta Electronics

Pair Corr

Related Correlations Analysis

	5515	5516	4533	5520	5511	2736	2712	2104
5515		-0.31	-0.18	0.23	0.1	0.05	-0.43	0.07	5515
5516	-0.31		-0.5	-0.18	-0.09	0.28	0.41	-0.68	5516
4533	-0.18	-0.5		0.47	0.54	0.0	-0.02	0.27	4533
5520	0.23	-0.18	0.47		0.77	0.5	0.12	-0.31	5520
5511	0.1	-0.09	0.54	0.77		0.4	0.27	-0.22	5511
2736	0.05	0.28	0.0	0.5	0.4		0.32	-0.7	2736
2712	-0.43	0.41	-0.02	0.12	0.27	0.32		-0.27	2712
2104	0.07	-0.68	0.27	-0.31	-0.22	-0.7	-0.27		2104
	5515	5516	4533	5520	5511	2736	2712	2104

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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

5511	+ 0.77	5520
5511	+ 0.54	4533
2736	+ 0.5	5520
5520	+ 0.47	4533
2712	+ 0.41	5516
2736	+ 0.4	5511

High negative correlations

2104	- 0.7	2736
2104	- 0.68	5516
4533	- 0.5	5516
2712	- 0.43	5515
2104	- 0.31	5520
5516	- 0.31	5515

Risk-Adjusted Indicators

There is a big difference between Welldone Stock performing well and Welldone 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 Welldone'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
5515	0.99	0.04	0.07	0.27	1.12	(1.17)	1.80	(1.90)	7.34
5516	1.11	(0.02)	0.03	0.00	1.53	(1.47)	3.17	(2.92)	8.96
4533	1.73	0.08	0.06	4.60	2.20	(1.87)	3.89	(3.55)	13.37
5520	0.34	0.11	0.30	(1.28)	0.00	(0.52)	1.23	(0.72)	1.95
5511	0.57	0.05	0.16	(0.21)	0.68	(0.64)	1.58	(0.95)	4.45
2736	1.97	0.24	0.15	(0.53)	1.81	(2.77)	9.81	(4.04)	15.36
2712	1.12	0.07	0.08	(1.44)	1.28	(1.46)	2.40	(2.22)	9.91
2104	1.19	(0.33)	0.00	1.73	0.00	0.00	2.40	(3.38)	8.65

Be your own money manager

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