Lumax International Correlations

Stocks . Taiwan . 
Stock . Lumax International Corp
6192 Stock  TWD 108.50  1.00  0.91%   
The current 90-days correlation between Lumax International Corp and Syscom Computer Engineering is 0.33 (i.e., Weak diversification). The correlation of Lumax International 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.

Lumax International Correlation With Market

Average diversification

The correlation between Lumax International Corp and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lumax International Corp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Lumax International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Lumax International 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 Lumax International - 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 Lumax International Corp to buy it.

Moving together with Lumax Stock

  0.722913 Taiwan Tea CorpPairCorr
  0.75911622 Tycoons WorldwidePairCorr
  0.762438 Enlight CorpPairCorr
  0.789136 Ju Teng InternationalPairCorr
  0.731734 Sinphar PharmaceuticalPairCorr
  0.774109 Jia Jie BiomedicalPairCorr

Moving against Lumax Stock

  0.748240 Wah Hong IndustrialPairCorr
  0.722603 Evergreen Marine CorpPairCorr
  0.72345 Accton Technology CorpPairCorr
  0.672356 Inventec CorpPairCorr
  0.662883 China DevelopmentPairCorr
  0.632354 Foxconn TechnologyPairCorr
  0.631231 Lian Hwa FoodsPairCorr
  0.612357 Asustek ComputerPairCorr
  0.583545 FocalTech SystemsPairCorr
  0.563041 ALi Corp SplitPairCorr
  0.548042 Taiwan Chinsan ElectronicPairCorr
  0.471446 Hong Ho PrecisionPairCorr
  0.432379 Realtek SemiconductorPairCorr
  0.423653 Jentech PrecisionPairCorr
  0.385269 Asmedia TechnologyPairCorr
  0.795315 United Radiant TechnologyPairCorr
  0.763036A WT MicroelectronicsPairCorr
  0.742850 Shinkong InsurancePairCorr
  0.722883B CHINA DEVELOPMENTPairCorr
  0.722891B CTBC Financial HoldingPairCorr
  0.71464 De Licacy IndustrialPairCorr
  0.72618 Eva Airways CorpPairCorr
  0.663231 Wistron CorpPairCorr
  0.658284 Mitake InformationPairCorr
  0.616669 Wiwynn CorpPairCorr
  0.575530 Lungyen Life ServicePairCorr
  0.562454 MediaTekPairCorr
  0.540050 YuantaP shares TaiwanPairCorr
  0.442382 Quanta ComputerPairCorr
  0.44910861 Digital China HoldingsPairCorr
  0.440057 Fubon MSCI TaiwanPairCorr

Related Correlations Analysis

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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   
6140
+ 0.65
3147
6140
+ 0.63
2453
8104
+ 0.45
4973
3025
+ 0.26
2453
3025
+ 0.26
8104
3147
+ 0.23
2453
  
High negative correlations   
6140
- 0.57
8104
3025
- 0.55
3147
8104
- 0.44
3147
8104
- 0.39
6154
3025
- 0.24
6154
3025
- 0.2
4973

Risk-Adjusted Indicators

There is a big difference between Lumax Stock performing well and Lumax International 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 Lumax International'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.

Be your own money manager

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