Coxon Precise Correlations
| 3607 Stock | TWD 18.45 0.15 0.82% |
The current 90-days correlation between Coxon Precise Industrial and United Microelectronics is 0.25 (i.e., Modest diversification). The correlation of Coxon Precise 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.
Coxon Precise Correlation With Market
Significant diversification
The correlation between Coxon Precise Industrial 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 Coxon Precise Industrial and DJI in the same portfolio, assuming nothing else is changed.
Coxon |
The ability to find closely correlated positions to Coxon Precise could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Coxon Precise 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 Coxon Precise - 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 Coxon Precise Industrial to buy it.
Moving against Coxon Stock
| 0.74 | 3211 | Dynapack International | PairCorr |
| 0.59 | 2609 | Yang Ming Marine | PairCorr |
| 0.59 | 3545 | FocalTech Systems | PairCorr |
| 0.57 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.56 | 1432 | Trk Corp | PairCorr |
| 0.37 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.31 | 6015 | Horizon Securities | PairCorr |
| 0.31 | 0057 | Fubon MSCI Taiwan | PairCorr |
Related Correlations Analysis
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