TMP Steel Correlations
| 6248 Stock | TWD 28.40 0.10 0.35% |
The current 90-days correlation between TMP Steel and U Tech Media Corp is 0.03 (i.e., Significant diversification). The correlation of TMP Steel 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.
TMP Steel Correlation With Market
Modest diversification
The correlation between TMP Steel and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TMP Steel and DJI in the same portfolio, assuming nothing else is changed.
TMP |
The ability to find closely correlated positions to TMP Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TMP Steel 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 TMP Steel - 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 TMP Steel to buy it.
Moving together with TMP Stock
| 0.84 | 2002A | China Steel Corp | PairCorr |
| 0.75 | 2006 | Tung Ho Steel | PairCorr |
| 0.67 | 2015 | Feng Hsin Steel | PairCorr |
| 0.82 | 9958 | Century Iron And | PairCorr |
| 0.77 | 2031 | Hsin Kuang Steel | PairCorr |
| 0.85 | 6144 | Deltamac Taiwan | PairCorr |
| 0.78 | 2227 | Yulon Nissan Motor | PairCorr |
| 0.87 | 6579 | AAEON Technology | PairCorr |
| 0.72 | 2712 | FarGlory Hotel | PairCorr |
| 0.92 | 5432 | Data International | PairCorr |
Moving against TMP Stock
| 0.64 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.55 | 1235 | Shin Tai Industry | PairCorr |
| 0.53 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.41 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.4 | 5009 | Gloria Material Tech | PairCorr |
| 0.35 | 2002 | China Steel Corp | PairCorr |
| 0.35 | 2014 | Chung Hung Steel | PairCorr |
| 0.31 | 3219 | Service Quality Tech | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between TMP Stock performing well and TMP Steel 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 TMP Steel'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 9943 | 0.38 | (0.09) | 0.00 | (0.40) | 0.00 | 0.74 | 2.90 | |||
| 3050 | 1.72 | (0.24) | 0.00 | 1.46 | 0.00 | 4.44 | 12.07 | |||
| 2607 | 0.75 | (0.04) | (0.09) | (0.02) | 1.10 | 1.64 | 5.44 | |||
| 6590 | 0.90 | 0.00 | (0.07) | (0.09) | 1.20 | 2.67 | 9.40 | |||
| 6542 | 1.45 | (0.16) | 0.00 | (0.02) | 0.00 | 5.49 | 20.90 | |||
| 6188 | 1.62 | (0.06) | 0.00 | (0.08) | 0.00 | 2.94 | 14.85 | |||
| 4994 | 1.05 | (0.06) | 0.00 | 1.08 | 0.00 | 1.99 | 6.44 | |||
| 6441 | 1.49 | (0.07) | 0.00 | 0.28 | 0.00 | 2.24 | 18.65 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in TMP Steel 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?
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