Edimax Technology Correlations
| 3047 Stock | TWD 32.50 0.45 1.37% |
The current 90-days correlation between Edimax Technology and United Microelectronics is 0.24 (i.e., Modest diversification). The correlation of Edimax Technology 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.
Edimax Technology Correlation With Market
Good diversification
The correlation between Edimax Technology Co and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edimax Technology Co and DJI in the same portfolio, assuming nothing else is changed.
Edimax |
The ability to find closely correlated positions to Edimax Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Edimax Technology 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 Edimax Technology - 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 Edimax Technology Co to buy it.
Moving against Edimax Stock
| 0.79 | 1432 | Trk Corp | PairCorr |
| 0.75 | 3545 | FocalTech Systems | PairCorr |
| 0.73 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.71 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.68 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.63 | 2609 | Yang Ming Marine | PairCorr |
| 0.63 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.55 | 3211 | Dynapack International | PairCorr |
| 0.48 | 8467 | Bonny Worldwide | PairCorr |
| 0.43 | 6015 | Horizon Securities | PairCorr |
Related Correlations Analysis
Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Edimax Technology 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 Share Portfolio Now
Share PortfolioTrack or share privately all of your investments from the convenience of any device |
| All Next | Launch Module |