Wonderful Correlations

6190 Stock

TWD 35.35 0.20 0.57%

The current 90-days correlation between Wonderful Hi Tech and Gemtek Technology Co is 0.42 (i.e., Very weak diversification). The correlation of Wonderful 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.

Wonderful Correlation With Market

Modest diversification

The correlation between Wonderful Hi Tech Co and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wonderful Hi Tech Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Wonderful Stock

0.65	4906	Gemtek Technology	Pair Corr
0.71	1438	SanDi Properties	Pair Corr
0.63	1516	Falcon Power Split	Pair Corr
0.69	6785	Alar Pharmaceuticals	Pair Corr
0.75	3465	New Advanced Electronics	Pair Corr
0.67	1713	Cathay Chemical Works	Pair Corr
0.64	0051	YuantaP shares Taiwan	Pair Corr

Moving against Wonderful Stock

0.54	2345	Accton Technology Corp	Pair Corr
0.52	3704	Unizyx Holding Corp	Pair Corr
0.51	3558	Senao Networks	Pair Corr
0.5	3596	Arcadyan Technology Corp	Pair Corr

Related Correlations Analysis

	4906	9945	5245	3034	3058	6697	6209	9921	2882A	9908
4906		0.43	0.66	0.65	0.72	-0.61	0.52	0.87	-0.64	0.75	4906
9945	0.43		0.65	0.51	0.67	-0.3	0.77	0.59	-0.27	0.24	9945
5245	0.66	0.65		0.74	0.77	-0.41	0.74	0.84	-0.42	0.33	5245
3034	0.65	0.51	0.74		0.7	-0.59	0.61	0.81	-0.27	0.34	3034
3058	0.72	0.67	0.77	0.7		-0.43	0.61	0.85	-0.62	0.44	3058
6697	-0.61	-0.3	-0.41	-0.59	-0.43		-0.36	-0.59	0.32	-0.51	6697
6209	0.52	0.77	0.74	0.61	0.61	-0.36		0.6	-0.19	0.35	6209
9921	0.87	0.59	0.84	0.81	0.85	-0.59	0.6		-0.64	0.54	9921
2882A	-0.64	-0.27	-0.42	-0.27	-0.62	0.32	-0.19	-0.64		-0.48	2882A
9908	0.75	0.24	0.33	0.34	0.44	-0.51	0.35	0.54	-0.48		9908
	4906	9945	5245	3034	3058	6697	6209	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

9921	+ 0.87	4906
9921	+ 0.85	3058
9921	+ 0.84	5245
9921	+ 0.81	3034
6209	+ 0.77	9945
3058	+ 0.77	5245

High negative correlations

2882A	- 0.64	9921
2882A	- 0.64	4906
2882A	- 0.62	3058
6697	- 0.61	4906
9921	- 0.59	6697
6697	- 0.59	3034

Risk-Adjusted Indicators

There is a big difference between Wonderful Stock performing well and Wonderful 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 Wonderful'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
4906	1.43	(0.24)	0.00	(0.82)	0.00	0.00	2.38	(2.91)	8.71
9945	0.94	(0.02)	(0.09)	(0.05)	1.18	(1.04)	1.80	(1.85)	7.35
5245	1.54	(0.11)	0.00	0.74	0.00	0.00	2.89	(3.45)	14.50
3034	1.04	(0.12)	0.00	(0.44)	0.00	0.00	1.97	(2.55)	8.21
3058	1.35	(0.17)	0.00	2.02	0.00	0.00	2.79	(2.89)	8.09
6697	1.34	0.16	0.04	0.67	1.59	(1.67)	3.46	(2.27)	15.29
6209	0.98	(0.02)	(0.08)	0.02	1.22	(1.05)	1.98	(2.15)	5.38
9921	1.66	(0.69)	0.00	(3.07)	0.00	0.00	2.00	(5.13)	14.43
2882A	0.10	0.01	(0.50)	0.50	0.00	(0.26)	0.33	(0.16)	0.82
9908	0.17	(0.02)	0.00	(0.43)	0.00	0.00	0.33	(0.33)	1.16

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