Hon Hai Correlations

HNHPF Stock  USD 10.70  0.28  2.55%   
The current 90-days correlation between Hon Hai Precision and Corning Incorporated is 0.53 (i.e., Very weak diversification). The correlation of Hon Hai 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.

Hon Hai Correlation With Market

Average diversification

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

Moving against Hon Pink Sheet

  0.78JBL Jabil CircuitPairCorr
  0.77NTRP NextTrip Symbol ChangePairCorr
  0.76AMZN Amazon IncPairCorr
  0.75VLKPF Volkswagen AG VZOPairCorr
  0.74VWAPY Volkswagen AG PrefPairCorr
  0.71VWAGY Volkswagen AG 110PairCorr
  0.7VLKAF Volkswagen AGPairCorr
  0.59FUJHY Subaru Corp ADRPairCorr
  0.56KPLTW Katapult Holdings EquityPairCorr
  0.54WMT WalmartPairCorr
  0.51AGI Alamos Gold Sell-off TrendPairCorr
  0.44IVR Invesco Mortgage CapitalPairCorr
  0.43FLEX FlexPairCorr
  0.41GLW Corning IncorporatedPairCorr
  0.4ACN Accenture plc Sell-off TrendPairCorr
  0.38HWM Howmet AerospacePairCorr
  0.36PINS PinterestPairCorr
  0.34MITUF Mitsui ChemicalsPairCorr
  0.65META Meta PlatformsPairCorr
  0.63CYMHF Cymat TechnologiesPairCorr
  0.61NITO N2OFF Inc Symbol ChangePairCorr
  0.59GPI Group 1 AutomotivePairCorr
  0.55BCLI Brainstorm Cell TherPairCorr
  0.48PLTR Palantir TechnologiesPairCorr
  0.43USEG US Energy CorpPairCorr
  0.43VOLVF Volvo AB serPairCorr
  0.43CRWD Crowdstrike Holdings Earnings Call This WeekPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
NEONKOPN
BMNRAPELY
BMNRASAAF
APELYASAAF
FNVICR
NEONALPE
  
High negative correlations   
KOPNASAAF
NEONASAAF
VICROUST
ALPEASAAF
FNKOPN
OUSTALPE

Risk-Adjusted Indicators

There is a big difference between Hon Pink Sheet performing well and Hon Hai 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 Hon Hai'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ASAAF  1.25 (0.63) 0.00  0.23  0.00 
 0.00 
 38.12 
ALPE  3.22  1.59  0.00  0.19  0.00 
 0.00 
 100.00 
APELY  0.99  0.05  0.01 (0.15) 1.69 
 4.39 
 14.30 
BMNR  8.63  0.85  0.07  500.67  9.90 
 20.00 
 73.46 
AAIRF  6.59  0.69  0.08 (0.46) 6.01 
 15.38 
 30.00 
OUST  4.43  0.03  0.01  0.05  5.07 
 14.97 
 32.30 
KOPN  5.24  1.03  0.20  0.50  4.80 
 13.86 
 34.91 
VICR  3.26  0.34  0.07  22.00  4.23 
 7.07 
 27.99 
FN  2.91 (0.11) 0.00 (0.40) 0.00 
 4.34 
 29.01 
NEON  3.34  0.57  0.14  0.23  3.95 
 7.20 
 24.50 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hon Hai 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.

Did you try this?

Run Money Flow Index Now

   

Money Flow Index

Determine momentum by analyzing Money Flow Index and other technical indicators
All  Next Launch Module

Hon Hai Corporate Management

ChiuLien HuangChief GroupProfile
Yen HwangInvestor Relations OfficerProfile
Alex YangInvestor OfficerProfile
ChinMin HuangDeputy OfficeProfile
WeiBin LeeChief OfficerProfile