Green World Correlations

6763 Stock

TWD 62.20 0.20 0.32%

The current 90-days correlation between Green World Fintech and BenQ Medical Technology is 0.02 (i.e., Significant diversification). The correlation of Green World 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.

Green World Correlation With Market

Average diversification

The correlation between Green World Fintech and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Green World Fintech and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Green Stock

0.68	6112	Sysage Technology	Pair Corr
0.77	6221	Genesis Technology	Pair Corr
0.64	2891	CTBC Financial Holding	Pair Corr
0.73	0051	YuantaP shares Taiwan	Pair Corr

Related Correlations Analysis

	2542	2520	4116	5515	2534	5519	6116	4109
2542		0.62	0.59	0.14	0.56	0.53	0.63	0.07	2542
2520	0.62		0.73	0.57	0.57	0.8	0.79	-0.32	2520
4116	0.59	0.73		0.07	0.57	0.61	0.78	-0.04	4116
5515	0.14	0.57	0.07		0.18	0.53	0.28	-0.37	5515
2534	0.56	0.57	0.57	0.18		0.84	0.55	-0.22	2534
5519	0.53	0.8	0.61	0.53	0.84		0.72	-0.43	5519
6116	0.63	0.79	0.78	0.28	0.55	0.72		-0.17	6116
4109	0.07	-0.32	-0.04	-0.37	-0.22	-0.43	-0.17		4109
	2542	2520	4116	5515	2534	5519	6116	4109

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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

5519	+ 0.84	2534
5519	+ 0.8	2520
6116	+ 0.79	2520
6116	+ 0.78	4116
4116	+ 0.73	2520
6116	+ 0.72	5519

High negative correlations

4109	- 0.43	5519
4109	- 0.37	5515
4109	- 0.32	2520
4109	- 0.22	2534
4109	- 0.17	6116
4109	- 0.04	4116

Risk-Adjusted Indicators

There is a big difference between Green Stock performing well and Green World 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 Green World'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
2542	1.01	(0.05)	0.00	0.23	0.00	0.00	2.46	(1.75)	5.19
2520	1.26	0.02	0.03	(0.09)	1.73	(1.30)	2.36	(2.96)	6.24
4116	0.94	(0.04)	0.00	(0.31)	0.00	0.00	2.35	(2.11)	6.68
5515	1.07	0.25	0.23	0.88	0.88	(1.32)	2.90	(1.57)	7.34
2534	0.89	(0.04)	0.00	(8.44)	0.00	0.00	1.92	(2.35)	8.42
5519	1.24	0.08	0.08	(0.59)	1.49	(1.37)	2.35	(2.99)	7.11
6116	1.30	(0.07)	0.00	(0.49)	0.00	0.00	2.80	(2.55)	8.19
4109	1.77	(0.23)	0.00	(1.24)	0.00	0.00	3.52	(4.37)	14.45

Be your own money manager

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