Castles Technology Correlations

Stocks . Taiwan . 
Stock . Castles Technology Co
5258 Stock   84.00  1.00  1.20%   
The current 90-days correlation between Castles Technology and Mitake Information is 0.12 (i.e., Average diversification). The correlation of Castles Technology 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.

Castles Technology Correlation With Market

Significant diversification

The correlation between Castles Technology Co and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Castles Technology Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Castles Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Castles Technology 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 Castles Technology - 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 Castles Technology Co to buy it.

Moving together with Castles Stock

  0.636160 CipherlabPairCorr
  0.862072 Century Wind PowerPairCorr

Moving against Castles Stock

  0.872356 Inventec CorpPairCorr
  0.825530 Lungyen Life ServicePairCorr
  0.796669 Wiwynn CorpPairCorr
  0.762354 Foxconn TechnologyPairCorr
  0.752850 Shinkong InsurancePairCorr
  0.742883 China DevelopmentPairCorr
  0.692379 Realtek SemiconductorPairCorr
  0.691464 De Licacy IndustrialPairCorr
  0.692357 Asustek ComputerPairCorr
  0.655269 Asmedia TechnologyPairCorr
  0.63231 Wistron CorpPairCorr
  0.386811 Acer E EnablingPairCorr
  0.353653 Jentech PrecisionPairCorr
  0.336223 MPI CorporationPairCorr
  0.333019 Asia OpticalPairCorr
  0.933036A WT MicroelectronicsPairCorr
  0.912883B CHINA DEVELOPMENTPairCorr
  0.892603 Evergreen Marine CorpPairCorr
  0.852618 Eva Airways CorpPairCorr
  0.831231 Lian Hwa FoodsPairCorr
  0.832345 Accton Technology CorpPairCorr
  0.828284 Mitake InformationPairCorr
  0.812891B CTBC Financial HoldingPairCorr
  0.815315 United Radiant TechnologyPairCorr
  0.783041 ALi Corp SplitPairCorr
  0.638240 Wah Hong IndustrialPairCorr
  0.62910861 Digital China HoldingsPairCorr
  0.62454 MediaTekPairCorr
  0.593545 FocalTech SystemsPairCorr
  0.480050 YuantaP shares TaiwanPairCorr
  0.462881B Fubon Financial HoldingPairCorr
  0.433217 Argosy ResearchPairCorr

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   
6669
+ 0.89
2345
8284
+ 0.89
2345
8284
+ 0.78
6669
2603
+ 0.77
2345
8284
+ 0.77
2603
2354
+ 0.74
8240
  
High negative correlations   
2603
- 0.89
5258
2345
- 0.83
5258
8284
- 0.82
5258
8284
- 0.81
6160
6669
- 0.79
5258
2345
- 0.78
6160

Risk-Adjusted Indicators

There is a big difference between Castles Stock performing well and Castles Technology 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 Castles Technology'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
5258  2.03 (0.59) 0.00 (6.92) 0.00 
 0.00 
 3.75 
(4.55)
 15.59 
4503  1.54  0.19  0.11 (0.38) 1.28 
(2.30)
 5.00 
(2.64)
 13.16 
8342  0.77 (0.04) 0.00 (0.54) 0.00 
 0.00 
 1.25 
(1.88)
 5.91 
6160  1.33 (0.15) 0.00 (1.00) 0.00 
 0.00 
 2.36 
(2.55)
 8.15 
2345  2.11  0.53  0.20  3.25  2.07 
(2.46)
 4.78 
(3.54)
 11.34 
8240  2.94  0.42  0.11  0.72  3.49 
(3.79)
 8.62 
(8.19)
 19.87 
2354  2.20  0.28  0.08  0.26  2.77 
(2.44)
 6.40 
(4.25)
 19.89 
6669  2.35  0.64  0.20  1.25  2.54 
(2.85)
 5.09 
(4.40)
 15.30 
2603  1.71  0.32  0.09 (0.46) 2.40 
(1.92)
 3.69 
(3.39)
 13.66 
8284  0.53  0.07  0.07 (3.16) 0.46 
(0.78)
 1.57 
(0.94)
 3.64 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Castles Technology 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.

Did you try this?

Run Premium Stories Now

   

Premium Stories

Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY