Xin Chio Correlations
| 3171 Stock | TWD 35.55 0.05 0.14% |
The current 90-days correlation between Xin Chio Global and Casing Macron Technology is -0.12 (i.e., Good diversification). The correlation of Xin Chio 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.
Xin Chio Correlation With Market
Modest diversification
The correlation between Xin Chio Global and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xin Chio Global and DJI in the same portfolio, assuming nothing else is changed.
Xin |
The ability to find closely correlated positions to Xin Chio could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Xin Chio 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 Xin Chio - 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 Xin Chio Global to buy it.
Moving together with Xin Stock
| 0.71 | 3034 | Novatek Microelectronics | PairCorr |
| 0.78 | 2327 | Yageo Corp | PairCorr |
| 0.64 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against Xin Stock
| 0.81 | 3533 | Lotes | PairCorr |
| 0.69 | 6669 | Wiwynn Corp | PairCorr |
| 0.62 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.62 | 2454 | MediaTek | PairCorr |
| 0.59 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.59 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.51 | 2609 | Yang Ming Marine | PairCorr |
| 0.42 | 0053 | YuantaP shares Taiwan | PairCorr |
Related Correlations Analysis
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Be your own money manager
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