Wistron NeWeb Correlations
| 6285 Stock | TWD 116.00 0.50 0.43% |
The current 90-days correlation between Wistron NeWeb Corp and Winbond Electronics Corp is 0.17 (i.e., Average diversification). The correlation of Wistron NeWeb 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.
Wistron NeWeb Correlation With Market
Modest diversification
The correlation between Wistron NeWeb Corp and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wistron NeWeb Corp and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Wistron NeWeb could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wistron NeWeb 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 Wistron NeWeb - 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 Wistron NeWeb Corp to buy it.
Related Correlations Analysis
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Wistron NeWeb Corporate Management
Elected by the shareholders, the Wistron NeWeb's board of directors comprises two types of representatives: Wistron NeWeb inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Wistron. The board's role is to monitor Wistron NeWeb's management team and ensure that shareholders' interests are well served. Wistron NeWeb'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, Wistron NeWeb's outside directors are responsible for providing unbiased perspectives on the board's policies.