Air Asia Correlations

2630 Stock

TWD 33.00 0.80 2.48%

The current 90-days correlation between Air Asia and SynCore Biotechnology Co is 0.09 (i.e., Significant diversification). The correlation of Air Asia 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.

Air Asia Correlation With Market

Significant diversification

The correlation between Air Asia Co and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Air Asia Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Air Stock

0.68	2634	Aerospace Industrial	Pair Corr
0.61	2891C	CTBC Financial Holding	Pair Corr
0.7	0051	YuantaP shares Taiwan	Pair Corr

Moving against Air Stock

0.42	2881A	Fubon Financial Holding	Pair Corr
0.35	2882B	Cathay Financial Holding	Pair Corr
0.35	2891B	CTBC Financial Holding	Pair Corr

Related Correlations Analysis

	4192	6885	3218	2702	8045	2758	1533	1733
4192		0.88	0.77	0.61	0.83	0.82	-0.14	0.73	4192
6885	0.88		0.71	0.62	0.85	0.84	-0.09	0.68	6885
3218	0.77	0.71		0.69	0.75	0.61	-0.12	0.81	3218
2702	0.61	0.62	0.69		0.79	0.8	0.29	0.77	2702
8045	0.83	0.85	0.75	0.79		0.91	0.06	0.81	8045
2758	0.82	0.84	0.61	0.8	0.91		0.19	0.76	2758
1533	-0.14	-0.09	-0.12	0.29	0.06	0.19		0.08	1533
1733	0.73	0.68	0.81	0.77	0.81	0.76	0.08		1733
	4192	6885	3218	2702	8045	2758	1533	1733

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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

2758	+ 0.91	8045
6885	+ 0.88	4192
8045	+ 0.85	6885
2758	+ 0.84	6885
8045	+ 0.83	4192
2758	+ 0.82	4192

High negative correlations

1533	- 0.14	4192
1533	- 0.12	3218
1533	- 0.09	6885

Risk-Adjusted Indicators

There is a big difference between Air Stock performing well and Air Asia 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 Air Asia'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
4192	0.95	(0.15)	0.00	(3.35)	0.00	0.00	2.44	(2.73)	6.09
6885	1.19	(0.31)	0.00	4.75	0.00	0.00	2.56	(2.65)	11.21
3218	1.25	(0.02)	(0.07)	0.01	1.40	(1.66)	3.00	(2.13)	13.49
2702	0.51	(0.09)	0.00	(0.48)	0.00	0.00	1.15	(1.16)	3.26
8045	2.01	(0.52)	0.00	3.31	0.00	0.00	4.69	(4.66)	16.75
2758	0.83	(0.32)	0.00	(2.12)	0.00	0.00	1.65	(2.11)	6.17
1533	1.43	0.04	(0.02)	0.25	1.65	(1.61)	3.67	(2.67)	14.85
1733	0.65	(0.08)	0.00	(0.21)	0.00	0.00	1.55	(1.40)	5.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in Air Asia 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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Air Asia Corporate Management

Elected by the shareholders, the Air Asia's board of directors comprises two types of representatives: Air Asia inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Air. The board's role is to monitor Air Asia's management team and ensure that shareholders' interests are well served. Air Asia's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Air Asia's outside directors are responsible for providing unbiased perspectives on the board's policies.

ChinLan Kao	CFO VP	Profile
ChunShien Huang	Chief Officer	Profile
Glenn Lee	Director Marketing	Profile
TianLin Lu	Chairman GM	Profile

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