Celxpert Energy Correlations

3323 Stock

TWD 36.00 0.95 2.57%

The current 90-days correlation between Celxpert Energy and China Metal Products is 0.07 (i.e., Significant diversification). The correlation of Celxpert Energy 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.

Celxpert Energy Correlation With Market

Significant diversification

The correlation between Celxpert Energy and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Celxpert Energy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Celxpert Stock

0.84	4938	Pegatron Corp	Pair Corr
0.74	6291	Analog Integrations	Pair Corr
0.73	2327	Yageo Corp	Pair Corr
0.69	6409	Voltronic Power Tech	Pair Corr
0.67	8069	E Ink Holdings	Pair Corr
0.67	2409	AU Optronics	Pair Corr
0.67	0051	YuantaP shares Taiwan	Pair Corr
0.63	3228	RDC Semiconductor	Pair Corr
0.6	5274	Aspeed Technology	Pair Corr

Related Correlations Analysis

	1532	4108	6237	1326	1736	9905	6569	9943
1532		0.88	0.09	0.85	-0.46	0.09	0.8	0.88	1532
4108	0.88		0.11	0.83	-0.33	0.1	0.9	0.89	4108
6237	0.09	0.11		0.27	0.54	0.36	0.0	0.3	6237
1326	0.85	0.83	0.27		-0.35	0.36	0.8	0.94	1326
1736	-0.46	-0.33	0.54	-0.35		0.11	-0.42	-0.29	1736
9905	0.09	0.1	0.36	0.36	0.11		0.13	0.23	9905
6569	0.8	0.9	0.0	0.8	-0.42	0.13		0.84	6569
9943	0.88	0.89	0.3	0.94	-0.29	0.23	0.84		9943
	1532	4108	6237	1326	1736	9905	6569	9943

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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

9943	+ 0.94	1326
6569	+ 0.9	4108
9943	+ 0.89	4108
4108	+ 0.88	1532
9943	+ 0.88	1532
1326	+ 0.85	1532

High negative correlations

1736	- 0.46	1532
6569	- 0.42	1736
1736	- 0.35	1326
1736	- 0.33	4108
9943	- 0.29	1736
6569	- 0.0	6237

Risk-Adjusted Indicators

There is a big difference between Celxpert Stock performing well and Celxpert Energy 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 Celxpert Energy'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
1532	1.08	(0.20)	0.00	(3.15)	0.00	0.00	2.12	(1.98)	11.12
4108	0.85	(0.08)	0.00	(0.39)	0.00	0.00	2.23	(2.12)	6.49
6237	1.74	0.22	0.06	1.08	1.87	(2.05)	3.44	(3.32)	15.66
1326	1.42	(0.25)	0.00	(1.19)	0.00	0.00	3.17	(2.99)	8.89
1736	2.65	0.76	0.17	(11.95)	2.79	(3.28)	8.21	(3.81)	19.81
9905	0.27	(0.01)	(0.22)	(0.05)	0.36	(0.34)	0.44	(0.66)	2.17
6569	1.18	(0.22)	0.00	(2.32)	0.00	0.00	2.08	(2.93)	8.46
9943	0.34	(0.06)	0.00	(0.34)	0.00	0.00	0.74	(0.86)	2.24

Be your own money manager

Our tools can tell you how much better you can do entering a position in Celxpert Energy 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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