ChipMOS Technologies Correlations

IMOS Stock

USD 18.49 0.19 1.02%

The current 90-days correlation between ChipMOS Technologies and Himax Technologies is 0.33 (i.e., Weak diversification). The correlation of ChipMOS 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.

ChipMOS Technologies Correlation With Market

Weak diversification

The correlation between ChipMOS Technologies and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChipMOS 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 ChipMOS 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 persons.

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

Moving together with ChipMOS Stock

0.64	GWRE	Guidewire Software	Pair Corr
0.64	AVPTW	AvePoint Tech Boost	Pair Corr
0.61	PATH	Uipath Inc Earnings Call Today	Pair Corr

Moving against ChipMOS Stock

0.36	ERIC	Telefonaktiebolaget	Pair Corr
0.32	MQ	Marqeta	Pair Corr
0.35	MLGO	MicroAlgo	Pair Corr

Related Correlations Analysis

	NA	WKEY	SIMO	UMC	ASX	HIMX	MXL	LEDS	TSM
NA		0.81	0.1	-0.23	0.34	-0.33	0.81	-0.73	0.7	NA
WKEY	0.81		0.03	-0.25	0.27	-0.36	0.79	-0.66	0.7	WKEY
SIMO	0.1	0.03		0.33	0.41	0.19	-0.12	0.15	0.01	SIMO
UMC	-0.23	-0.25	0.33		-0.19	-0.39	-0.52	0.12	-0.63	UMC
ASX	0.34	0.27	0.41	-0.19		0.44	0.46	0.01	0.65	ASX
HIMX	-0.33	-0.36	0.19	-0.39	0.44		-0.13	0.52	0.12	HIMX
MXL	0.81	0.79	-0.12	-0.52	0.46	-0.13		-0.56	0.87	MXL
LEDS	-0.73	-0.66	0.15	0.12	0.01	0.52	-0.56		-0.44	LEDS
TSM	0.7	0.7	0.01	-0.63	0.65	0.12	0.87	-0.44		TSM
	NA	WKEY	SIMO	UMC	ASX	HIMX	MXL	LEDS	TSM

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

High negative correlations

LEDS	- 0.73	NA
LEDS	- 0.66	WKEY
TSM	- 0.63	UMC
LEDS	- 0.56	MXL
MXL	- 0.52	UMC
TSM	- 0.44	LEDS

Risk-Adjusted Indicators

There is a big difference between ChipMOS Stock performing well and ChipMOS 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 ChipMOS 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
NA	5.09	(0.76)	0.00	(2.00)	0.00	0.00	10.00	(10.12)	31.77
WKEY	9.94	0.23	0.02	0.22	10.22	(13.30)	34.19	(21.25)	77.80
SIMO	2.15	0.02	0.00	(0.05)	0.00	0.00	4.51	(4.93)	10.95
UMC	1.51	0.12	0.07	0.16	1.99	(1.56)	3.58	(3.62)	8.20
ASX	1.87	0.04	0.00	(0.03)	0.00	0.00	3.80	(3.85)	14.62
HIMX	4.60	0.35	0.04	0.08	6.66	(4.66)	9.68	(8.00)	46.73
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
TSM	2.16	(0.10)	0.00	(0.21)	0.00	0.00	4.06	(4.55)	18.80

ChipMOS Technologies Corporate Management

YuYing Chen	Senior Centre	Profile
G Shen	Deputy Relations	Profile
JingLong Fang	VP	Profile
Silvia Su	VP Officer	Profile
D Tsai	Executive Center	Profile
Guang Chen	Deputy Manager	Profile

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