Jinli Group Correlations

8429 Stock  TWD 10.80  0.05  0.47%   
The current 90-days correlation between Jinli Group Holdings and Les Enphants Co is 0.06 (i.e., Significant diversification). The correlation of Jinli Group 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.

Jinli Group Correlation With Market

Good diversification

The correlation between Jinli Group Holdings and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jinli Group Holdings and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Jinli Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jinli Group 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 Jinli Group - 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 Jinli Group Holdings to buy it.

Moving together with Jinli Stock

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Moving against Jinli Stock

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  0.553711 ASE Industrial HoldingPairCorr
  0.470050 YuantaP shares TaiwanPairCorr
  0.452882B Cathay Financial HoldingPairCorr
  0.430053 YuantaP shares TaiwanPairCorr
  0.420057 Fubon MSCI TaiwanPairCorr
  0.332881A Fubon Financial HoldingPairCorr

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   
13402911
84118443
84119944
29118443
99448443
84112911
  
High negative correlations   
99441340
99442911
84111340

Risk-Adjusted Indicators

There is a big difference between Jinli Stock performing well and Jinli Group 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 Jinli Group'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 Jinli Group 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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