Sunny Friend Correlations

8341 Stock  TWD 91.40  0.80  0.88%   
The current 90-days correlation between Sunny Friend Environ and Cleanaway Co is 0.42 (i.e., Very weak diversification). The correlation of Sunny Friend 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.

Sunny Friend Correlation With Market

Good diversification

The correlation between Sunny Friend Environmental and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sunny Friend Environmental and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Sunny Friend could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sunny Friend 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 Sunny Friend - 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 Sunny Friend Environmental to buy it.

Moving together with Sunny Stock

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  0.662002 China Steel CorpPairCorr
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  0.820053 YuantaP shares TaiwanPairCorr
  0.770057 Fubon MSCI TaiwanPairCorr

Moving against Sunny Stock

  0.392002A China Steel CorpPairCorr

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   
12648422
99178422
12649917
12328422
  
High negative correlations   
12329917
12641232

Risk-Adjusted Indicators

There is a big difference between Sunny Stock performing well and Sunny Friend 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 Sunny Friend'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 Sunny Friend 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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Sunny Friend Corporate Management

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