GeoVision Correlations

3356 Stock

TWD 55.40 0.60 1.09%

The current 90-days correlation between GeoVision and Leader Electronics is 0.36 (i.e., Weak diversification). The correlation of GeoVision 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.

GeoVision Correlation With Market

Good diversification

The correlation between GeoVision and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GeoVision and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with GeoVision Stock

0.72

0051

YuantaP shares Taiwan

Pair Corr

Moving against GeoVision Stock

0.52	3008	LARGAN Precision	Pair Corr
0.52	2609	Yang Ming Marine	Pair Corr
0.45	6669	Wiwynn Corp	Pair Corr
0.36	2603	Evergreen Marine Corp	Pair Corr

Related Correlations Analysis

	2409	3481	9945	3034	3058	6697	9921	2882A	9908
2409		0.81	0.84	0.89	0.83	-0.42	0.83	-0.29	0.29	2409
3481	0.81		0.64	0.7	0.58	-0.1	0.5	-0.02	0.07	3481
9945	0.84	0.64		0.7	0.85	-0.39	0.77	-0.47	0.41	9945
3034	0.89	0.7	0.7		0.68	-0.52	0.81	-0.16	0.27	3034
3058	0.83	0.58	0.85	0.68		-0.34	0.81	-0.58	0.44	3058
6697	-0.42	-0.1	-0.39	-0.52	-0.34		-0.53	0.21	-0.47	6697
9921	0.83	0.5	0.77	0.81	0.81	-0.53		-0.59	0.55	9921
2882A	-0.29	-0.02	-0.47	-0.16	-0.58	0.21	-0.59		-0.44	2882A
9908	0.29	0.07	0.41	0.27	0.44	-0.47	0.55	-0.44		9908
	2409	3481	9945	3034	3058	6697	9921	2882A	9908

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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

3034	+ 0.89	2409
3058	+ 0.85	9945
9945	+ 0.84	2409
3058	+ 0.83	2409
9921	+ 0.83	2409
3481	+ 0.81	2409

High negative correlations

2882A	- 0.59	9921
2882A	- 0.58	3058
9921	- 0.53	6697
6697	- 0.52	3034
9908	- 0.47	6697
2882A	- 0.47	9945

Risk-Adjusted Indicators

There is a big difference between GeoVision Stock performing well and GeoVision 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 GeoVision'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
2409	1.14	(0.17)	0.00	(0.59)	0.00	0.00	2.35	(1.97)	7.55
3481	1.25	(0.04)	0.00	(0.04)	0.00	0.00	2.93	(2.54)	9.31
9945	0.95	(0.16)	0.00	(1.16)	0.00	0.00	1.56	(2.24)	7.35
3034	1.01	(0.05)	0.00	0.86	0.00	0.00	1.97	(2.49)	5.48
3058	1.50	(0.31)	0.00	1.17	0.00	0.00	2.92	(3.17)	10.95
6697	1.34	0.09	0.04	0.31	1.70	(1.64)	3.46	(2.99)	15.29
9921	1.62	(0.52)	0.00	(2.31)	0.00	0.00	2.40	(4.49)	14.43
2882A	0.10	0.01	(0.08)	0.72	0.00	(0.26)	0.33	(0.16)	0.82
9908	0.17	(0.03)	0.00	(1.00)	0.00	0.00	0.33	(0.33)	0.99

Be your own money manager

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