CoAsia Microelectronics Correlations

Stocks Taiwan . 
Stock . CoAsia Microelectronics
8096 Stock  TWD 69.40  2.10  2.94%   
The current 90-days correlation between CoAsia Microelectronics and An Shin Food Services is 0.36 (i.e., Weak diversification). The correlation of CoAsia Microelectronics 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.

CoAsia Microelectronics Correlation With Market

Average diversification

The correlation between CoAsia Microelectronics and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CoAsia Microelectronics and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CoAsia Microelectronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CoAsia Microelectronics 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 CoAsia Microelectronics - 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 CoAsia Microelectronics to buy it.

Moving together with CoAsia Stock

  0.612454 MediaTekPairCorr
  0.873034 Novatek MicroelectronicsPairCorr
  0.636415 Silergy CorpPairCorr
  0.736770 Powerchip SemiconductorPairCorr
  0.912597 Ruentex EngineeringPairCorr
  0.698072 AV Tech CorpPairCorr
  0.753056 ZongTai Real EstatePairCorr
  0.912545 Huang Hsiang ConstructionPairCorr
  0.661442 Advancetek EnterprisePairCorr
  0.676186 Shin Ruenn DevelopmentPairCorr
  0.640051 YuantaP shares TaiwanPairCorr

Moving against CoAsia Stock

  0.522330 Taiwan SemiconductorPairCorr
  0.410053 YuantaP shares TaiwanPairCorr
  0.390050 YuantaP shares TaiwanPairCorr
  0.370057 Fubon MSCI TaiwanPairCorr

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   
2702
+ 0.74
2748
6470
+ 0.55
2707
2702
+ 0.52
6768
6470
+ 0.5
1259
2702
+ 0.47
5604
2707
+ 0.47
2748
  
High negative correlations   
2707
- 0.22
5604
6470
- 0.19
5604

Risk-Adjusted Indicators

There is a big difference between CoAsia Stock performing well and CoAsia Microelectronics 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 CoAsia Microelectronics' 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 CoAsia Microelectronics 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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CoAsia Microelectronics Corporate Management

Elected by the shareholders, the CoAsia Microelectronics' board of directors comprises two types of representatives: CoAsia Microelectronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of CoAsia. The board's role is to monitor CoAsia Microelectronics' management team and ensure that shareholders' interests are well served. CoAsia Microelectronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, CoAsia Microelectronics' outside directors are responsible for providing unbiased perspectives on the board's policies.
DongSoo ShinVice GMProfile
HeeJun LeeChairman CEOProfile
Robert ChengVP FinProfile
PengCheng WangHead GMProfile
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