Hiwin Mikrosystem Correlations
| 4576 Stock | TWD 115.50 2.50 2.21% |
The current 90-days correlation between Hiwin Mikrosystem Corp and WiseChip Semiconductor is 0.3 (i.e., Weak diversification). The correlation of Hiwin Mikrosystem 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.
Hiwin Mikrosystem Correlation With Market
Average diversification
The correlation between Hiwin Mikrosystem Corp and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hiwin Mikrosystem Corp and DJI in the same portfolio, assuming nothing else is changed.
Hiwin |
The ability to find closely correlated positions to Hiwin Mikrosystem could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hiwin Mikrosystem 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 Hiwin Mikrosystem - 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 Hiwin Mikrosystem Corp to buy it.
Moving together with Hiwin Stock
| 0.8 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.66 | 2881A | Fubon Financial Holding | PairCorr |
| 0.7 | 2891 | CTBC Financial Holding | PairCorr |
| 0.71 | 2885 | Yuanta Financial Holdings | PairCorr |
| 0.77 | 2882B | Cathay Financial Holding | PairCorr |
| 0.82 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.79 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.8 | 0057 | Fubon MSCI Taiwan | PairCorr |
Moving against Hiwin Stock
| 0.69 | 1609 | Ta Ya Electric | PairCorr |
| 0.58 | 1514 | Allis Electric Split | PairCorr |
| 0.56 | 1605 | Walsin Lihwa Corp | PairCorr |
| 0.49 | 8109 | P Duke Technology | PairCorr |
| 0.39 | 2884 | ESUN Financial Holding | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Hiwin Stock performing well and Hiwin Mikrosystem 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 Hiwin Mikrosystem'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 1476 | 1.33 | (0.05) | (0.07) | 0.01 | 1.64 | 2.65 | 8.79 | |||
| 5245 | 1.71 | 0.00 | (0.05) | 0.11 | 2.20 | 4.46 | 16.38 | |||
| 3034 | 1.14 | (0.20) | 0.00 | (0.57) | 0.00 | 1.97 | 8.21 | |||
| 3058 | 1.72 | 0.03 | (0.06) | 0.02 | 1.89 | 2.98 | 15.92 | |||
| 6697 | 1.23 | (0.03) | (0.06) | 0.04 | 1.69 | 2.33 | 15.29 | |||
| 6209 | 1.10 | (0.16) | 0.00 | (0.35) | 0.00 | 2.16 | 7.45 | |||
| 9921 | 1.66 | (0.70) | 0.00 | (2.85) | 0.00 | 1.99 | 14.43 | |||
| 2882A | 0.09 | 0.01 | (0.58) | 0.40 | 0.00 | 0.33 | 0.82 | |||
| 9908 | 0.19 | (0.04) | 0.00 | (0.57) | 0.00 | 0.33 | 1.16 | |||
| 8926 | 0.75 | (0.08) | 0.00 | 0.66 | 0.00 | 1.75 | 6.17 |
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Hiwin Mikrosystem Corporate Management
Elected by the shareholders, the Hiwin Mikrosystem's board of directors comprises two types of representatives: Hiwin Mikrosystem inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hiwin. The board's role is to monitor Hiwin Mikrosystem's management team and ensure that shareholders' interests are well served. Hiwin Mikrosystem's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Hiwin Mikrosystem's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Xuebin Zhang | Independent Director | Profile | |
| KaiSheng Yu | Acting VP | Profile | |
| KouI Szu | General Manager, Director | Profile | |
| Liangji Zhang | Director | Profile | |
| Kaisheng You | Executive Deputy General Manager | Profile | |
| Xiuyu Zhuo | Vice Chairman of the Board | Profile | |
| Jiaheng Gu | Independent Director | Profile |