Fittech Correlations

Stocks . Taiwan . 
Stock . Fittech Co
6706 Stock  TWD 89.90  1.70  1.93%   
The current 90-days correlation between Fittech and Visual Photonics Epitaxy is -0.04 (i.e., Good diversification). The correlation of Fittech 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.
  
The ability to find closely correlated positions to Fittech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fittech 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 Fittech - 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 Fittech Co to buy it.

Moving together with Fittech Stock

  0.912467 C Sun ManufacturingPairCorr
  0.616208 Highlight TechPairCorr
  0.82233 Turvo InternationalPairCorr
  0.663529 eMemory TechnologyPairCorr
  0.612345 Accton Technology CorpPairCorr
  0.833533 LotesPairCorr
  0.94966 Parade TechnologiesPairCorr

Moving against Fittech Stock

  0.754532 Rechi PrecisionPairCorr
  0.424506 Golden FriendsPairCorr
  0.42820 China Bills FinancePairCorr
  0.366613 Nova TechnologyPairCorr
  0.363023 Sinbon ElectronicsPairCorr

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   
3714
+ 0.61
8046
6278
+ 0.14
8016
3714
+ 0.12
2455
8046
+ 0.08
8016
8046
+ 0.03
6278
  
High negative correlations   
2455
- 0.4
6278
3714
- 0.27
6278
2455
- 0.22
8046
2455
- 0.22
8016
3714
- 0.02
8016

Risk-Adjusted Indicators

There is a big difference between Fittech Stock performing well and Fittech 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 Fittech'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 Fittech 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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