Super Dragon Correlations

9955 Stock

TWD 28.25 0.55 1.91%

The current 90-days correlation between Super Dragon Technology and WiseChip Semiconductor is 0.21 (i.e., Modest diversification). The correlation of Super Dragon 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.

Super Dragon Correlation With Market

Good diversification

The correlation between Super Dragon Technology and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Super Dragon Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Super Stock

0.83	2072	Century Wind Power	Pair Corr
0.73	0051	YuantaP shares Taiwan	Pair Corr

Moving against Super Stock

0.54	0050	YuantaP shares Taiwan	Pair Corr
0.46	0057	Fubon MSCI Taiwan	Pair Corr
0.39	6811	Acer E Enabling	Pair Corr

Related Correlations Analysis

	1440	1444	1314	9945	5245	3034	3058	3152	6697	6209
1440		0.67	0.88	0.74	0.78	0.62	0.76	0.35	-0.52	0.8	1440
1444	0.67		0.62	0.41	0.36	0.12	0.31	0.44	-0.24	0.58	1444
1314	0.88	0.62		0.56	0.67	0.59	0.76	0.25	-0.57	0.6	1314
9945	0.74	0.41	0.56		0.69	0.6	0.75	0.12	-0.4	0.76	9945
5245	0.78	0.36	0.67	0.69		0.75	0.78	0.2	-0.43	0.75	5245
3034	0.62	0.12	0.59	0.6	0.75		0.7	0.09	-0.59	0.67	3034
3058	0.76	0.31	0.76	0.75	0.78	0.7		-0.09	-0.44	0.63	3058
3152	0.35	0.44	0.25	0.12	0.2	0.09	-0.09		-0.25	0.44	3152
6697	-0.52	-0.24	-0.57	-0.4	-0.43	-0.59	-0.44	-0.25		-0.42	6697
6209	0.8	0.58	0.6	0.76	0.75	0.67	0.63	0.44	-0.42		6209
	1440	1444	1314	9945	5245	3034	3058	3152	6697	6209

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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

1314	+ 0.88	1440
6209	+ 0.8	1440
5245	+ 0.78	1440
3058	+ 0.78	5245
3058	+ 0.76	1440
3058	+ 0.76	1314

High negative correlations

6697	- 0.59	3034
6697	- 0.57	1314
6697	- 0.52	1440
6697	- 0.44	3058
6697	- 0.43	5245
6209	- 0.42	6697

Risk-Adjusted Indicators

There is a big difference between Super Stock performing well and Super Dragon 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 Super Dragon'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
1440	0.69	(0.03)	0.00	0.34	0.00	0.00	1.32	(1.31)	5.33
1444	0.72	0.03	(0.06)	0.90	0.87	(0.83)	1.66	(1.50)	6.35
1314	1.14	(0.22)	0.00	(2.66)	0.00	0.00	2.46	(2.91)	9.38
9945	0.94	(0.04)	0.00	(0.28)	0.00	0.00	1.56	(2.24)	7.35
5245	1.47	(0.09)	0.00	0.76	0.00	0.00	2.89	(3.44)	14.50
3034	1.02	(0.15)	0.00	(0.74)	0.00	0.00	1.91	(2.55)	6.30
3058	1.36	(0.19)	0.00	2.71	0.00	0.00	2.79	(2.89)	8.09
3152	2.04	0.26	0.05	(0.32)	1.86	(2.61)	4.76	(2.95)	12.61
6697	1.35	0.13	0.04	0.46	1.60	(1.70)	3.46	(2.27)	15.29
6209	0.94	0.00	(0.05)	0.08	1.13	(1.07)	1.98	(1.75)	5.38

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Our tools can tell you how much better you can do entering a position in Super Dragon 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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