Himax Technologies Correlations

HIMX Stock

USD 8.46 0.19 2.20%

The current 90-days correlation between Himax Technologies and MaxLinear is 0.51 (i.e., Very weak diversification). The correlation of Himax Technologies 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.

Himax Technologies Correlation With Market

Weak diversification

The correlation between Himax Technologies and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Himax Technologies and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Himax Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For more information on how to buy Himax Stock please use our How to Invest in Himax Technologies guide.

Moving together with Himax Stock

0.66	IMOS	ChipMOS Technologies	Pair Corr
0.72	DOCN	DigitalOcean Holdings	Pair Corr
0.67	ENFN	Enfusion	Pair Corr

Moving against Himax Stock

0.39	UMC	United Microelectronics	Pair Corr
0.38	DM	Desktop Metal	Pair Corr
0.33	NA	Nano Labs	Pair Corr
0.31	KLIC	Kulicke and Soffa Potential Growth	Pair Corr
0.36	WKEY	Wisekey International	Pair Corr
0.32	BHE	Benchmark Electronics	Pair Corr
0.31	BMR	Beamr Imaging	Pair Corr

Related Correlations Analysis

	ASX	UMC	MXL	LEDS	SIMO	TSM	NA	IMOS	WKEY
ASX		-0.19	0.46	0.01	0.41	0.65	0.34	0.56	0.27	ASX
UMC	-0.19		-0.52	0.12	0.33	-0.63	-0.23	-0.49	-0.25	UMC
MXL	0.46	-0.52		-0.56	-0.12	0.87	0.81	0.22	0.79	MXL
LEDS	0.01	0.12	-0.56		0.15	-0.44	-0.73	0.16	-0.66	LEDS
SIMO	0.41	0.33	-0.12	0.15		0.01	0.1	0.25	0.03	SIMO
TSM	0.65	-0.63	0.87	-0.44	0.01		0.7	0.46	0.7	TSM
NA	0.34	-0.23	0.81	-0.73	0.1	0.7		0.11	0.81	NA
IMOS	0.56	-0.49	0.22	0.16	0.25	0.46	0.11		0.09	IMOS
WKEY	0.27	-0.25	0.79	-0.66	0.03	0.7	0.81	0.09		WKEY
	ASX	UMC	MXL	LEDS	SIMO	TSM	NA	IMOS	WKEY

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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

TSM	+ 0.87	MXL
NA	+ 0.81	MXL
WKEY	+ 0.81	NA
WKEY	+ 0.79	MXL
NA	+ 0.7	TSM
WKEY	+ 0.7	TSM

High negative correlations

NA	- 0.73	LEDS
WKEY	- 0.66	LEDS
TSM	- 0.63	UMC
LEDS	- 0.56	MXL
MXL	- 0.52	UMC
IMOS	- 0.49	UMC

Risk-Adjusted Indicators

There is a big difference between Himax Stock performing well and Himax Technologies 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 Himax Technologies' 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
ASX	1.87	0.04	0.00	(0.03)	0.00	0.00	3.80	(3.85)	14.62
UMC	1.51	0.12	0.07	0.16	1.99	(1.56)	3.58	(3.62)	8.20
MXL	3.82	(0.48)	0.00	(0.32)	0.00	0.00	6.45	(8.03)	27.60
LEDS	3.52	0.75	0.13	0.42	4.72	(3.80)	8.20	(6.78)	23.80
SIMO	2.15	0.02	0.00	(0.05)	0.00	0.00	4.51	(4.93)	10.95
TSM	2.16	(0.10)	0.00	(0.21)	0.00	0.00	4.06	(4.55)	18.80
NA	5.09	(0.76)	0.00	(2.00)	0.00	0.00	10.00	(10.12)	31.77
IMOS	1.65	0.07	0.03	0.00	2.20	(1.61)	3.38	(4.16)	15.92
WKEY	9.94	0.23	0.02	0.22	10.22	(13.30)	34.19	(21.25)	77.80

Himax Technologies Corporate Management

MingFeng Pan	Chief Officer	Profile
Greg Falesnik	Managing Representative	Profile
TzungI Li	Chief Spokesperson	Profile
Chang Hsien	Vice Operations	Profile

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