Fubon Hang Correlations

00666R Etf

TWD 12.81 0.06 0.47%

The current 90-days correlation between Fubon Hang Seng and Yuanta Daily Taiwan is 0.09 (i.e., Significant diversification). The correlation of Fubon Hang 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.

Fubon Hang Correlation With Market

Good diversification

The correlation between Fubon Hang Seng and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fubon Hang Seng and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fubon Etf

0.84	00632R	Yuanta Daily Taiwan	Pair Corr
0.71	00711B	Fuh Hwa Emerging	Pair Corr

Moving against Fubon Etf

0.94	00637L	Yuanta Daily CSI	Pair Corr
0.85	006208	Fubon FTSE TWSE	Pair Corr
0.85	00692	Fubon TWSE Corporate	Pair Corr
0.85	006203	YuantaP shares MSCI	Pair Corr
0.84	0057	Fubon MSCI Taiwan	Pair Corr
0.83	0050	YuantaP shares Taiwan	Pair Corr
0.82	006204	Sinopac TAIEX ETF	Pair Corr
0.81	00631L	Yuanta Daily Taiwan	Pair Corr
0.81	0053	YuantaP shares Taiwan	Pair Corr
0.68	00881	Cathay Taiwan 5G	Pair Corr
0.63	00878	Cathay Sustainability	Pair Corr
0.49	00735	Cathay Koreataiwan	Pair Corr
0.36	00731	Fuh Hwa FTSE	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.55	0.04	0.55	0.04	0.64	0.28	-0.53	0.72	META
MSFT	0.27		0.22	0.15	0.18	-0.01	0.03	-0.12	0.12	-0.19	MSFT
UBER	0.55	0.22		-0.05	-0.06	0.27	-0.01	-0.14	0.08	0.35	UBER
F	0.04	0.15	-0.05		0.2	-0.4	0.47	0.69	-0.34	0.32	F
T	0.55	0.18	-0.06	0.2		-0.5	0.79	0.6	-0.78	0.38	T
A	0.04	-0.01	0.27	-0.4	-0.5		-0.47	-0.62	0.64	-0.01	A
CRM	0.64	0.03	-0.01	0.47	0.79	-0.47		0.85	-0.91	0.65	CRM
JPM	0.28	-0.12	-0.14	0.69	0.6	-0.62	0.85		-0.83	0.48	JPM
MRK	-0.53	0.12	0.08	-0.34	-0.78	0.64	-0.91	-0.83		-0.56	MRK
XOM	0.72	-0.19	0.35	0.32	0.38	-0.01	0.65	0.48	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

JPM	+ 0.85	CRM
CRM	+ 0.79	T
XOM	+ 0.72	META
JPM	+ 0.69	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.62	A
XOM	- 0.56	MRK
MRK	- 0.53	META

Fubon Hang Competition Risk-Adjusted Indicators

There is a big difference between Fubon Etf performing well and Fubon Hang ETF 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 Fubon Hang'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
META	1.06	0.06	0.02	0.20	1.40	(1.15)	2.62	(3.15)	8.02
MSFT	0.92	(0.05)	(0.05)	0.05	1.49	(0.89)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.30	(1.74)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.20	(1.42)	2.53	(2.90)	11.21
T	0.92	0.28	0.15	(7.88)	0.85	(1.05)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.05)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.34	0.21	0.16	0.30	1.16	(1.53)	3.18	(1.93)	9.09
JPM	1.12	(0.01)	0.06	0.11	1.40	(1.21)	2.05	(2.00)	15.87
MRK	0.91	(0.21)	0.00	(0.74)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.01	(0.05)	(0.08)	0.02	1.33	(1.07)	2.10	(2.09)	5.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fubon Hang 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 Funds Screener Now

Funds Screener

Find actively-traded funds from around the world traded on over 30 global exchanges

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC