Niko Semiconductor Correlations

3317 Stock

TWD 48.95 0.25 0.51%

The current 90-days correlation between Niko Semiconductor and WiseChip Semiconductor is 0.02 (i.e., Significant diversification). The correlation of Niko Semiconductor 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.

Niko Semiconductor Correlation With Market

Average diversification

The correlation between Niko Semiconductor Co and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Niko Semiconductor Co and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	8016	3189	5245	3034	3058	6697	6209	9921	2882A	9908
8016		0.79	0.56	0.6	0.25	-0.24	0.78	0.42	0.12	0.09	8016
3189	0.79		0.55	0.72	0.3	-0.06	0.79	0.57	-0.11	0.33	3189
5245	0.56	0.55		0.59	0.62	-0.37	0.54	0.75	-0.35	0.34	5245
3034	0.6	0.72	0.59		0.27	-0.51	0.67	0.82	-0.31	0.59	3034
3058	0.25	0.3	0.62	0.27		-0.25	0.24	0.44	-0.31	0.0	3058
6697	-0.24	-0.06	-0.37	-0.51	-0.25		-0.29	-0.5	0.22	-0.38	6697
6209	0.78	0.79	0.54	0.67	0.24	-0.29		0.6	-0.23	0.51	6209
9921	0.42	0.57	0.75	0.82	0.44	-0.5	0.6		-0.65	0.71	9921
2882A	0.12	-0.11	-0.35	-0.31	-0.31	0.22	-0.23	-0.65		-0.59	2882A
9908	0.09	0.33	0.34	0.59	0.0	-0.38	0.51	0.71	-0.59		9908
	8016	3189	5245	3034	3058	6697	6209	9921	2882A	9908

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

9921	+ 0.82	3034
3189	+ 0.79	8016
6209	+ 0.79	3189
6209	+ 0.78	8016
9921	+ 0.75	5245
3034	+ 0.72	3189

High negative correlations

2882A	- 0.65	9921
9908	- 0.59	2882A
6697	- 0.51	3034
9921	- 0.5	6697
9908	- 0.38	6697
6697	- 0.37	5245

Risk-Adjusted Indicators

There is a big difference between Niko Stock performing well and Niko Semiconductor 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 Niko Semiconductor'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
8016	1.19	(0.23)	0.00	(0.29)	0.00	0.00	2.07	(2.71)	6.70
3189	2.01	(0.31)	0.00	(0.42)	0.00	0.00	4.19	(4.09)	16.22
5245	1.71	0.00	(0.05)	0.11	2.20	(2.04)	4.46	(3.45)	16.38
3034	1.14	(0.20)	0.00	(0.57)	0.00	0.00	1.97	(2.55)	8.21
3058	1.72	0.03	(0.06)	0.02	1.89	(2.38)	2.98	(2.89)	15.92
6697	1.23	(0.03)	(0.06)	0.04	1.69	(1.53)	2.33	(2.68)	15.29
6209	1.10	(0.16)	0.00	(0.35)	0.00	0.00	2.16	(2.38)	7.45
9921	1.66	(0.70)	0.00	(2.85)	0.00	0.00	1.99	(5.13)	14.43
2882A	0.09	0.01	(0.58)	0.40	0.00	(0.25)	0.33	(0.16)	0.82
9908	0.19	(0.04)	0.00	(0.57)	0.00	0.00	0.33	(0.49)	1.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in Niko Semiconductor 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 Latest Portfolios Now

Latest Portfolios

Quick portfolio dashboard that showcases your latest portfolios

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