Tatung System Correlations
| 8099 Stock | TWD 70.70 0.20 0.28% |
The current 90-days correlation between Tatung System Techno and Alcor Micro is 0.24 (i.e., Modest diversification). The correlation of Tatung System 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.
Tatung System Correlation With Market
Significant diversification
The correlation between Tatung System Technologies 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 Tatung System Technologies and DJI in the same portfolio, assuming nothing else is changed.
Tatung |
The ability to find closely correlated positions to Tatung System could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tatung System 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 Tatung System - 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 Tatung System Technologies to buy it.
Moving together with Tatung Stock
| 0.64 | 910861 | Digital China Holdings | PairCorr |
| 0.8 | 6811 | Acer E Enabling | PairCorr |
| 0.74 | 4953 | Wistron Information | PairCorr |
| 0.75 | 2317 | Hon Hai Precision | PairCorr |
| 0.81 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.82 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.81 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.82 | 0057 | Fubon MSCI Taiwan | PairCorr |
Moving against Tatung Stock
| 0.81 | 2882B | Cathay Financial Holding | PairCorr |
| 0.8 | 2881A | Fubon Financial Holding | PairCorr |
| 0.76 | 2882A | Cathay Financial Holding | PairCorr |
| 0.7 | 2891C | CTBC Financial Holding | PairCorr |
| 0.69 | 2888 | Shin Kong Financial | PairCorr |
| 0.68 | 2888A | Shin Kong Financial | PairCorr |
| 0.63 | 6266 | Top Union Electronics | PairCorr |
| 0.5 | 2883 | China Development | PairCorr |
| 0.49 | 3147 | Jetwell Computer | PairCorr |
| 0.37 | 2630 | Air Asia | PairCorr |
| 0.36 | 2453 | Syscom Computer Engi | PairCorr |
| 0.32 | 2891 | CTBC Financial Holding | PairCorr |
Related Correlations Analysis
| 0.81 | 0.45 | -0.6 | 0.68 | 8054 | ||
| 0.81 | 0.55 | -0.31 | 0.75 | 6126 | ||
| 0.45 | 0.55 | 0.32 | 0.75 | 8240 | ||
| -0.6 | -0.31 | 0.32 | -0.01 | 8096 | ||
| 0.68 | 0.75 | 0.75 | -0.01 | 6609 | ||
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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 Tatung Stock performing well and Tatung System 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 Tatung System'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 8054 | 2.29 | (0.59) | 0.00 | (1.46) | 0.00 | 5.08 | 16.19 | |||
| 6126 | 1.04 | (0.14) | 0.00 | 1.63 | 0.00 | 2.14 | 7.64 | |||
| 8240 | 1.49 | (0.13) | 0.00 | 0.90 | 0.00 | 3.13 | 9.54 | |||
| 8096 | 3.60 | 0.78 | 0.22 | 1.09 | 2.92 | 9.90 | 18.28 | |||
| 6609 | 2.14 | (0.15) | 0.00 | 0.74 | 0.00 | 5.49 | 14.75 |
Be your own money manager
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