Brighton Best Correlations

8415 Stock

TWD 34.20 1.20 3.64%

The current 90-days correlation between Brighton Best Intern and Hiwin Technologies Corp is -0.06 (i.e., Good diversification). The correlation of Brighton Best 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.

Brighton Best Correlation With Market

Average diversification

The correlation between Brighton Best International Ta and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brighton Best International Ta and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Brighton Stock

0.45	3711	ASE Industrial Holding	Pair Corr
0.41	2454	MediaTek	Pair Corr
0.38	2049	Hiwin Technologies Corp	Pair Corr
0.38	2330	Taiwan Semiconductor	Pair Corr
0.36	4540	TBI Motion Technology	Pair Corr
0.32	2850	Shinkong Insurance	Pair Corr
0.56	6223	MPI Corporation	Pair Corr
0.36	6669	Wiwynn Corp	Pair Corr
0.35	3653	Jentech Precision	Pair Corr
0.33	5269	Asmedia Technology	Pair Corr
0.31	0053	YuantaP shares Taiwan	Pair Corr

Related Correlations Analysis

	2049	8415	5007	8349	4163	1527	3004	8021	4571	4540
2049		-0.38	-0.77	-0.67	0.23	-0.64	-0.22	-0.09	0.57	0.63	2049
8415	-0.38		0.34	0.11	-0.08	0.09	-0.1	0.03	-0.22	-0.36	8415
5007	-0.77	0.34		0.91	-0.36	0.78	0.23	0.41	-0.47	-0.4	5007
8349	-0.67	0.11	0.91		-0.34	0.81	0.33	0.46	-0.42	-0.35	8349
4163	0.23	-0.08	-0.36	-0.34		-0.35	-0.14	0.05	0.11	0.2	4163
1527	-0.64	0.09	0.78	0.81	-0.35		0.55	0.13	-0.08	-0.14	1527
3004	-0.22	-0.1	0.23	0.33	-0.14	0.55		-0.41	0.07	-0.13	3004
8021	-0.09	0.03	0.41	0.46	0.05	0.13	-0.41		-0.33	0.08	8021
4571	0.57	-0.22	-0.47	-0.42	0.11	-0.08	0.07	-0.33		0.73	4571
4540	0.63	-0.36	-0.4	-0.35	0.2	-0.14	-0.13	0.08	0.73		4540
	2049	8415	5007	8349	4163	1527	3004	8021	4571	4540

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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

8349	+ 0.91	5007
1527	+ 0.81	8349
1527	+ 0.78	5007
4540	+ 0.73	4571
4540	+ 0.63	2049
4571	+ 0.57	2049

High negative correlations

5007	- 0.77	2049
8349	- 0.67	2049
1527	- 0.64	2049
4571	- 0.47	5007
4571	- 0.42	8349
8021	- 0.41	3004

Risk-Adjusted Indicators

There is a big difference between Brighton Stock performing well and Brighton Best 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 Brighton Best'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
2049	2.12	0.48	0.22	(2.93)	1.63	(2.88)	5.37	(3.12)	11.86
8415	0.86	0.03	0.01	0.13	0.84	(1.14)	2.69	(1.59)	6.92
5007	0.42	(0.09)	0.00	1.14	0.00	0.00	0.90	(0.93)	2.68
8349	0.65	(0.18)	0.00	0.80	0.00	0.00	1.03	(1.54)	4.45
4163	0.52	(0.04)	0.00	(2.77)	0.00	0.00	1.33	(1.31)	2.65
1527	1.00	(0.12)	0.00	3.05	0.00	0.00	2.30	(2.02)	8.93
3004	0.74	(0.05)	0.00	(0.10)	0.00	0.00	1.30	(1.67)	6.98
8021	1.56	(0.08)	0.00	0.17	0.00	0.00	3.40	(2.86)	14.90
4571	2.86	0.64	0.16	(0.60)	3.08	(3.38)	9.35	(5.25)	18.22
4540	2.79	0.43	0.14	(0.87)	2.40	(3.69)	9.90	(3.89)	13.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Brighton Best 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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