Kingstate Electronics Correlations

3206 Stock

TWD 42.80 0.60 1.42%

The current 90-days correlation between Kingstate Electronics and Hon Hai Precision is 0.12 (i.e., Average diversification). The correlation of Kingstate Electronics 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.

Kingstate Electronics Correlation With Market

Significant diversification

The correlation between Kingstate Electronics and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kingstate Electronics and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kingstate Stock

0.84	2327	Yageo Corp	Pair Corr
0.8	4938	Pegatron Corp	Pair Corr
0.63	911622	Tycoons Worldwide	Pair Corr
0.84	9136	Ju Teng International	Pair Corr
0.78	4109	Jia Jie Biomedical	Pair Corr
0.63	0051	YuantaP shares Taiwan	Pair Corr

Moving against Kingstate Stock

0.47	1446	Hong Ho Precision	Pair Corr
0.45	8042	Taiwan Chinsan Electronic	Pair Corr
0.44	2317	Hon Hai Precision	Pair Corr
0.39	0050	YuantaP shares Taiwan	Pair Corr
0.35	0057	Fubon MSCI Taiwan	Pair Corr

Related Correlations Analysis

	2317	2308	3008	2327	4938	2409	3481
2317		0.61	-0.74	-0.43	-0.16	0.14	0.54	2317
2308	0.61		-0.26	0.06	0.25	0.44	0.62	2308
3008	-0.74	-0.26		0.63	0.34	-0.04	-0.26	3008
2327	-0.43	0.06	0.63		0.86	0.66	0.28	2327
4938	-0.16	0.25	0.34	0.86		0.83	0.51	4938
2409	0.14	0.44	-0.04	0.66	0.83		0.79	2409
3481	0.54	0.62	-0.26	0.28	0.51	0.79		3481
	2317	2308	3008	2327	4938	2409	3481

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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

4938	+ 0.86	2327
2409	+ 0.83	4938
3481	+ 0.79	2409
2409	+ 0.66	2327
2327	+ 0.63	3008
3481	+ 0.62	2308

High negative correlations

3008	- 0.74	2317
2327	- 0.43	2317
3481	- 0.26	3008
3008	- 0.26	2308
4938	- 0.16	2317
2409	- 0.04	3008

Risk-Adjusted Indicators

There is a big difference between Kingstate Stock performing well and Kingstate Electronics 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 Kingstate Electronics' 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
2317	1.50	0.01	(0.02)	0.15	1.78	(1.64)	3.69	(2.96)	8.59
2308	1.36	(0.14)	0.00	(0.13)	0.00	0.00	2.84	(3.46)	11.60
3008	1.79	(0.32)	0.00	(2.15)	0.00	0.00	3.99	(4.57)	14.78
2327	1.39	(0.43)	0.00	(0.60)	0.00	0.00	2.80	(3.09)	10.82
4938	1.00	(0.14)	0.00	2.51	0.00	0.00	1.92	(2.83)	6.35
2409	1.23	(0.17)	0.00	(0.19)	0.00	0.00	2.57	(2.05)	8.17
3481	1.47	(0.20)	0.00	(0.11)	0.00	0.00	3.03	(2.84)	12.56

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kingstate Electronics 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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