Macauto Industrial Correlations

9951 Stock

TWD 53.40 0.20 0.38%

The current 90-days correlation between Macauto Industrial and E Lead Electronic Co is 0.2 (i.e., Modest diversification). The correlation of Macauto Industrial 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.

Macauto Industrial Correlation With Market

Average diversification

The correlation between Macauto Industrial Co and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Macauto Industrial Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Macauto Stock

0.9	2106	Kenda Rubber Industrial	Pair Corr
0.79	4551	Global PMX	Pair Corr
0.86	8255	Actron Technology	Pair Corr
0.77	6605	Depo Auto Parts	Pair Corr
0.74	0051	YuantaP shares Taiwan	Pair Corr

Moving against Macauto Stock

0.91	2891	CTBC Financial Holding	Pair Corr
0.86	2881A	Fubon Financial Holding	Pair Corr
0.8	2454	MediaTek	Pair Corr
0.78	2882B	Cathay Financial Holding	Pair Corr
0.71	2603	Evergreen Marine Corp	Pair Corr
0.63	1319	Tong Yang Industry	Pair Corr
0.62	1536	Hota Industrial Mfg	Pair Corr
0.6	2330	Taiwan Semiconductor	Pair Corr
0.55	2882A	Cathay Financial Holding	Pair Corr
0.55	2881B	Fubon Financial Holding	Pair Corr
0.55	0050	YuantaP shares Taiwan	Pair Corr
0.48	3552	Tung Thih Electronic	Pair Corr
0.48	0057	Fubon MSCI Taiwan	Pair Corr
0.42	2882	Cathay Financial Holding	Pair Corr

Related Correlations Analysis

	2497	3653	2233	9945	6438	5245	3034	6541	3058	3152
2497		-0.46	-0.53	0.84	-0.6	0.9	0.81	0.14	0.89	0.03	2497
3653	-0.46		-0.06	-0.22	0.58	-0.42	-0.29	-0.37	-0.38	-0.13	3653
2233	-0.53	-0.06		-0.66	0.05	-0.45	-0.48	0.21	-0.51	0.3	2233
9945	0.84	-0.22	-0.66		-0.43	0.73	0.7	0.15	0.85	-0.05	9945
6438	-0.6	0.58	0.05	-0.43		-0.62	-0.45	-0.23	-0.44	-0.4	6438
5245	0.9	-0.42	-0.45	0.73	-0.62		0.83	0.15	0.8	0.14	5245
3034	0.81	-0.29	-0.48	0.7	-0.45	0.83		0.14	0.68	0.13	3034
6541	0.14	-0.37	0.21	0.15	-0.23	0.15	0.14		0.2	0.34	6541
3058	0.89	-0.38	-0.51	0.85	-0.44	0.8	0.68	0.2		-0.16	3058
3152	0.03	-0.13	0.3	-0.05	-0.4	0.14	0.13	0.34	-0.16		3152
	2497	3653	2233	9945	6438	5245	3034	6541	3058	3152

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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

5245	+ 0.9	2497
3058	+ 0.89	2497
3058	+ 0.85	9945
9945	+ 0.84	2497
3034	+ 0.83	5245
3034	+ 0.81	2497

High negative correlations

9945	- 0.66	2233
5245	- 0.62	6438
6438	- 0.6	2497
2233	- 0.53	2497
3058	- 0.51	2233
3034	- 0.48	2233

Risk-Adjusted Indicators

There is a big difference between Macauto Stock performing well and Macauto Industrial 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 Macauto Industrial'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
2497	1.55	(0.41)	0.00	(0.88)	0.00	0.00	3.78	(3.50)	15.02
3653	2.29	0.09	0.02	0.28	2.69	(2.55)	4.25	(4.23)	11.72
2233	2.39	0.45	0.17	(1.12)	2.08	(3.15)	7.32	(3.52)	17.59
9945	0.95	(0.16)	0.00	(1.16)	0.00	0.00	1.56	(2.24)	7.35
6438	2.82	0.71	0.25	3.74	2.15	(3.91)	9.79	(3.99)	17.42
5245	1.42	(0.15)	0.00	1.46	0.00	0.00	2.70	(3.44)	14.50
3034	1.01	(0.05)	0.00	0.86	0.00	0.00	1.97	(2.49)	5.48
6541	1.71	(0.14)	0.00	(0.32)	0.00	0.00	3.24	(3.04)	13.84
3058	1.50	(0.31)	0.00	1.17	0.00	0.00	2.92	(3.17)	10.95
3152	1.97	0.11	0.04	(0.21)	1.89	(2.51)	4.35	(2.95)	13.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in Macauto Industrial 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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