Apacer Technology Correlations

8271 Stock  TWD 44.80  1.95  4.17%   
The current 90-days correlation between Apacer Technology and Leader Electronics is 0.35 (i.e., Weak diversification). The correlation of Apacer Technology 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.

Apacer Technology Correlation With Market

Significant diversification

The correlation between Apacer Technology and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apacer Technology and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Apacer Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Apacer Technology 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 Apacer Technology - 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 Apacer Technology to buy it.

Moving together with Apacer Stock

  0.614966 Parade TechnologiesPairCorr
  0.873034 Novatek MicroelectronicsPairCorr
  0.932327 Yageo CorpPairCorr
  0.755274 Aspeed TechnologyPairCorr
  0.690051 YuantaP shares TaiwanPairCorr

Moving against Apacer Stock

  0.782603 Evergreen Marine CorpPairCorr
  0.76669 Wiwynn CorpPairCorr
  0.73533 LotesPairCorr
  0.682609 Yang Ming MarinePairCorr
  0.512454 MediaTekPairCorr
  0.460050 YuantaP shares TaiwanPairCorr
  0.390057 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   
99215245
99213058
52452409
99213034
99452409
30342409
  
High negative correlations   
2882A3058
2882A9921
66973034
99216697
99086697
99082882A

Risk-Adjusted Indicators

There is a big difference between Apacer Stock performing well and Apacer Technology 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 Apacer Technology'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
2409  1.19 (0.04)(0.07)(0.02) 1.30 
 2.52 
 8.17 
3481  1.38  0.07  0.03  0.19  1.41 
 2.94 
 12.56 
9945  0.94 (0.04) 0.00 (0.28) 0.00 
 1.56 
 7.35 
5245  1.47 (0.09) 0.00  0.76  0.00 
 2.89 
 14.50 
3034  1.02 (0.15) 0.00 (0.74) 0.00 
 1.91 
 6.30 
3058  1.36 (0.19) 0.00  2.71  0.00 
 2.79 
 8.09 
6697  1.35  0.13  0.04  0.46  1.60 
 3.46 
 15.29 
9921  1.62 (0.58) 0.00 (2.70) 0.00 
 2.38 
 14.43 
2882A  0.10  0.01 (0.37) 0.52  0.00 
 0.33 
 0.82 
9908  0.18 (0.02) 0.00 (0.42) 0.00 
 0.33 
 1.16 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Apacer Technology 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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