Tacheng Real Correlations

6171 Stock

TWD 40.85 0.05 0.12%

The current 90-days correlation between Tacheng Real Estate and Davicom Semiconductor is 0.05 (i.e., Significant diversification). The correlation of Tacheng Real 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.

Tacheng Real Correlation With Market

Significant diversification

The correlation between Tacheng Real Estate and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tacheng Real Estate and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tacheng Stock

0.77	2542	Highwealth Construction Split	Pair Corr
0.66	2539	Sakura Development	Pair Corr
0.79	5206	Kunyue Development	Pair Corr

Moving against Tacheng Stock

0.61	0051	YuantaP shares Taiwan	Pair Corr
0.53	0053	YuantaP shares Taiwan	Pair Corr
0.49	2882	Cathay Financial Holding	Pair Corr
0.41	2881B	Fubon Financial Holding	Pair Corr
0.37	0057	Fubon MSCI Taiwan	Pair Corr
0.35	0050	YuantaP shares Taiwan	Pair Corr

Related Correlations Analysis

	3094	6561	8011	8045	6142	4905	3085
3094		-0.43	0.06	0.69	-0.12	0.69	-0.36	3094
6561	-0.43		0.36	-0.41	0.06	-0.4	0.44	6561
8011	0.06	0.36		0.41	0.21	0.41	-0.32	8011
8045	0.69	-0.41	0.41		0.01	0.86	-0.73	8045
6142	-0.12	0.06	0.21	0.01		-0.07	-0.06	6142
4905	0.69	-0.4	0.41	0.86	-0.07		-0.71	4905
3085	-0.36	0.44	-0.32	-0.73	-0.06	-0.71		3085
	3094	6561	8011	8045	6142	4905	3085

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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

4905	+ 0.86	8045
8045	+ 0.69	3094
4905	+ 0.69	3094
3085	+ 0.44	6561
8045	+ 0.41	8011
4905	+ 0.41	8011

High negative correlations

3085	- 0.73	8045
3085	- 0.71	4905
6561	- 0.43	3094
8045	- 0.41	6561
4905	- 0.4	6561
3085	- 0.36	3094

Risk-Adjusted Indicators

There is a big difference between Tacheng Stock performing well and Tacheng Real 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 Tacheng Real'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
3094	1.50	(0.09)	0.00	(0.16)	0.00	0.00	3.23	(2.65)	14.25
6561	1.31	(0.03)	(0.04)	(0.03)	1.60	(1.60)	2.38	(2.52)	14.39
8011	1.84	(0.20)	0.00	(1.37)	0.00	0.00	4.58	(3.70)	15.48
8045	2.15	(0.77)	0.00	(4.02)	0.00	0.00	4.69	(4.75)	21.37
6142	2.33	0.07	0.00	(0.23)	2.49	(3.27)	5.36	(4.88)	15.95
4905	1.18	(0.17)	0.00	(0.67)	0.00	0.00	1.65	(2.98)	18.27
3085	2.91	0.85	0.25	2.02	2.19	(4.39)	9.86	(4.40)	17.24

Be your own money manager

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