Symtek Automation Correlations

Stocks . Taiwan . 
Stock . Symtek Automation Asia
6438 Stock  TWD 212.00  5.50  2.53%   
The current 90-days correlation between Symtek Automation Asia and All Ring Tech is 0.39 (i.e., Weak diversification). The correlation of Symtek Automation 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.

Symtek Automation Correlation With Market

Significant diversification

The correlation between Symtek Automation Asia and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Symtek Automation Asia and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Symtek Automation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Symtek Automation 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 Symtek Automation - 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 Symtek Automation Asia to buy it.

Moving together with Symtek Stock

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  0.722609 Yang Ming MarinePairCorr
  0.812881B Fubon Financial HoldingPairCorr
  0.912881A Fubon Financial HoldingPairCorr
  0.762882A Cathay Financial HoldingPairCorr
  0.962882B Cathay Financial HoldingPairCorr
  0.792882 Cathay Financial HoldingPairCorr
  0.92317 Hon Hai PrecisionPairCorr
  0.822454 MediaTekPairCorr
  0.870050 YuantaP shares TaiwanPairCorr
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  0.860057 Fubon MSCI TaiwanPairCorr

Moving against Symtek Stock

  0.456125 Kenmec MechanicalPairCorr

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   
6187
+ 0.71
3714
8016
+ 0.56
3413
8016
+ 0.25
3714
8016
+ 0.23
6187
6187
+ 0.15
3413
3714
+ 0.02
3413
  
High negative correlations   
2404
- 0.82
3413
8016
- 0.62
2404
6187
- 0.15
2404

Risk-Adjusted Indicators

There is a big difference between Symtek Stock performing well and Symtek Automation 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 Symtek Automation'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 Symtek Automation 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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