Tainet Communication Correlations

4905 Stock

TWD 78.80 0.60 0.77%

The current 90-days correlation between Tainet Communication and Newretail Co is -0.07 (i.e., Good diversification). The correlation of Tainet Communication 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.

Tainet Communication Correlation With Market

Significant diversification

The correlation between Tainet Communication System and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tainet Communication System and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tainet Stock

0.65	1516	Falcon Power Split	Pair Corr
0.71	6785	Alar Pharmaceuticals	Pair Corr
0.72	1435	Chung Fu Tex	Pair Corr
0.66	1423	Reward Wool Industry	Pair Corr
0.81	3465	New Advanced Electronics	Pair Corr
0.61	4174	OBI Pharma	Pair Corr
0.63	9902	Tidehold Development	Pair Corr
0.78	1713	Cathay Chemical Works	Pair Corr
0.62	3094	Davicom Semiconductor	Pair Corr
0.75	0051	YuantaP shares Taiwan	Pair Corr

Moving against Tainet Stock

0.81	2345	Accton Technology Corp	Pair Corr
0.72	3558	Senao Networks	Pair Corr
0.49	3596	Arcadyan Technology Corp	Pair Corr
0.45	3380	Alpha Networks	Pair Corr
0.45	3704	Unizyx Holding Corp	Pair Corr

Related Correlations Analysis

	1231	3085	1201	1227	2706	1236	6183	2748
1231		0.68	0.12	-0.53	-0.16	-0.43	0.86	0.53	1231
3085	0.68		0.31	-0.33	-0.07	-0.27	0.8	0.58	3085
1201	0.12	0.31		0.4	-0.25	0.38	0.01	0.45	1201
1227	-0.53	-0.33	0.4		0.23	0.72	-0.58	0.06	1227
2706	-0.16	-0.07	-0.25	0.23		0.11	0.09	-0.17	2706
1236	-0.43	-0.27	0.38	0.72	0.11		-0.5	0.2	1236
6183	0.86	0.8	0.01	-0.58	0.09	-0.5		0.4	6183
2748	0.53	0.58	0.45	0.06	-0.17	0.2	0.4		2748
	1231	3085	1201	1227	2706	1236	6183	2748

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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

6183	+ 0.86	1231
6183	+ 0.8	3085
1236	+ 0.72	1227
3085	+ 0.68	1231
2748	+ 0.58	3085
2748	+ 0.53	1231

High negative correlations

6183	- 0.58	1227
1227	- 0.53	1231
6183	- 0.5	1236
1236	- 0.43	1231
1227	- 0.33	3085
1236	- 0.27	3085

Risk-Adjusted Indicators

There is a big difference between Tainet Stock performing well and Tainet Communication 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 Tainet Communication'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
1231	0.93	0.40	0.24	(3.23)	0.61	(1.33)	2.82	(1.39)	6.43
3085	2.85	1.04	0.25	(1.00)	2.14	(4.02)	9.86	(4.40)	17.24
1201	0.36	(0.02)	(0.17)	0.02	0.43	(0.61)	0.84	(0.82)	3.31
1227	0.47	0.00	0.00	0.00	0.00	0.00	1.20	(0.91)	3.26
2706	0.39	(0.04)	0.00	(0.49)	0.00	0.00	1.01	(1.00)	2.96
1236	0.42	0.00	(0.20)	0.03	0.45	(0.58)	1.06	(0.84)	3.26
6183	0.70	0.19	0.08	(9.90)	0.55	(0.88)	1.99	(1.69)	4.77
2748	1.00	0.13	0.01	(2.01)	0.86	(1.31)	2.41	(1.42)	4.91

Be your own money manager

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