WinWay Technology Correlations

6515 Stock

TWD 1,075 20.00 1.83%

The current 90-days correlation between WinWay Technology and Taiwan Semiconductor Manufacturing is 0.1 (i.e., Average diversification). The correlation of WinWay 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.

WinWay Technology Correlation With Market

Average diversification

The correlation between WinWay Technology Co and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WinWay Technology Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WinWay 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 WinWay 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 WinWay 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 WinWay Technology Co to buy it.

Moving together with WinWay Stock

0.62	2317	Hon Hai Precision	Pair Corr
0.61	2002	China Steel Corp	Pair Corr

Moving against WinWay Stock

0.56	1231	Lian Hwa Foods	Pair Corr
0.54	2891B	CTBC Financial Holding	Pair Corr
0.51	2379	Realtek Semiconductor	Pair Corr
0.48	2454	MediaTek	Pair Corr
0.45	2609	Yang Ming Marine	Pair Corr
0.38	3036A	WT Microelectronics	Pair Corr
0.69	910861	Digital China Holdings	Pair Corr
0.63	2345	Accton Technology Corp	Pair Corr
0.6	8284	Mitake Information	Pair Corr
0.6	2618	Eva Airways Corp	Pair Corr
0.57	5530	Lungyen Life Service	Pair Corr
0.52	3019	Asia Optical	Pair Corr
0.48	6669	Wiwynn Corp	Pair Corr
0.48	4571	Khgears International	Pair Corr
0.46	2883	China Development	Pair Corr
0.43	5269	Asmedia Technology	Pair Corr
0.41	2838	Union Bank	Pair Corr
0.4	2850	Shinkong Insurance	Pair Corr
0.35	3545	FocalTech Systems	Pair Corr
0.32	3217	Argosy Research	Pair Corr

Related Correlations Analysis

	2330	2454	2303	3034	6415	6488	2379	5347	6770	3443
2330		0.82	-0.54	-0.29	0.01	-0.6	0.55	-0.44	-0.53	0.82	2330
2454	0.82		-0.67	-0.41	-0.22	-0.82	0.75	-0.48	-0.72	0.88	2454
2303	-0.54	-0.67		0.89	0.61	0.86	-0.67	0.89	0.97	-0.68	2303
3034	-0.29	-0.41	0.89		0.69	0.66	-0.57	0.84	0.85	-0.45	3034
6415	0.01	-0.22	0.61	0.69		0.42	-0.61	0.42	0.66	-0.17	6415
6488	-0.6	-0.82	0.86	0.66	0.42		-0.69	0.65	0.88	-0.8	6488
2379	0.55	0.75	-0.67	-0.57	-0.61	-0.69		-0.38	-0.74	0.68	2379
5347	-0.44	-0.48	0.89	0.84	0.42	0.65	-0.38		0.79	-0.5	5347
6770	-0.53	-0.72	0.97	0.85	0.66	0.88	-0.74	0.79		-0.69	6770
3443	0.82	0.88	-0.68	-0.45	-0.17	-0.8	0.68	-0.5	-0.69		3443
	2330	2454	2303	3034	6415	6488	2379	5347	6770	3443

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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

6770	+ 0.97	2303
3034	+ 0.89	2303
5347	+ 0.89	2303
3443	+ 0.88	2454
6770	+ 0.88	6488
6488	+ 0.86	2303

High negative correlations

6488	- 0.82	2454
3443	- 0.8	6488
6770	- 0.74	2379
6770	- 0.72	2454
3443	- 0.69	6770
2379	- 0.69	6488

Risk-Adjusted Indicators

There is a big difference between WinWay Stock performing well and WinWay 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 WinWay 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
2330	1.31	0.13	0.06	(1.43)	1.49	(1.44)	2.87	(2.34)	8.06
2454	1.63	0.34	0.15	(4.03)	1.70	(2.08)	3.67	(2.34)	11.11
2303	0.98	(0.36)	0.00	(3.09)	0.00	0.00	2.41	(2.20)	5.31
3034	1.00	(0.06)	0.00	0.72	0.00	0.00	1.97	(2.49)	5.48
6415	2.31	(0.06)	0.00	(0.16)	0.00	0.00	5.67	(3.97)	16.15
6488	1.15	(0.34)	0.00	1.88	0.00	0.00	2.68	(2.65)	8.69
2379	1.20	0.17	0.09	(1.08)	1.47	(1.28)	2.37	(2.37)	6.89
5347	1.20	(0.14)	0.00	(1.58)	0.00	0.00	2.34	(2.28)	7.50
6770	1.54	(0.44)	0.00	(3.01)	0.00	0.00	2.58	(3.22)	9.71
3443	2.46	0.46	0.17	1.83	2.09	(3.17)	6.00	(3.85)	14.31

Be your own money manager

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

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