Progate Correlations

8227 Stock

153.00 1.50 0.99%

The current 90-days correlation between Progate Group and Quanta Computer is 0.43 (i.e., Very weak diversification). The correlation of Progate 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.

Progate Correlation With Market

Significant diversification

The correlation between Progate Group 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 Progate Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Progate Stock

0.91	6505	Formosa Petrochemical	Pair Corr
0.86	2303	United Microelectronics	Pair Corr
0.7	1303	Nan Ya Plastics	Pair Corr
0.76	1301	Formosa Plastics Corp	Pair Corr
0.83	6689	eCloudvalley Digital	Pair Corr
0.84	1584	S Tech Corp	Pair Corr
0.67	0051	YuantaP shares Taiwan	Pair Corr

Moving against Progate Stock

0.79	8935	Pontex Polyblend CoLtd	Pair Corr
0.51	2317	Hon Hai Precision	Pair Corr
0.45	0050	YuantaP shares Taiwan	Pair Corr
0.44	2330	Taiwan Semiconductor	Pair Corr
0.38	0057	Fubon MSCI Taiwan	Pair Corr
0.37	2882	Cathay Financial Holding	Pair Corr
0.34	2454	MediaTek	Pair Corr

Related Correlations Analysis

	2382	6154	3025	2412	3416	6561	8101	6142
2382		0.5	0.74	-0.58	0.03	0.31	0.11	0.71	2382
6154	0.5		0.4	0.04	0.03	-0.07	0.06	0.55	6154
3025	0.74	0.4		-0.48	-0.07	0.04	0.17	0.58	3025
2412	-0.58	0.04	-0.48		0.23	-0.26	-0.07	-0.43	2412
3416	0.03	0.03	-0.07	0.23		0.32	0.54	0.07	3416
6561	0.31	-0.07	0.04	-0.26	0.32		0.27	-0.05	6561
8101	0.11	0.06	0.17	-0.07	0.54	0.27		0.27	8101
6142	0.71	0.55	0.58	-0.43	0.07	-0.05	0.27		6142
	2382	6154	3025	2412	3416	6561	8101	6142

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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

3025	+ 0.74	2382
6142	+ 0.71	2382
6142	+ 0.58	3025
6142	+ 0.55	6154
8101	+ 0.54	3416
6154	+ 0.5	2382

High negative correlations

2412	- 0.58	2382
2412	- 0.48	3025
6142	- 0.43	2412
6561	- 0.26	2412
8101	- 0.07	2412
3416	- 0.07	3025

Risk-Adjusted Indicators

There is a big difference between Progate Stock performing well and Progate 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 Progate'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
2382	1.81	0.04	(0.01)	0.21	2.63	(1.85)	3.85	(4.20)	11.80
6154	0.34	(0.01)	0.00	(1.34)	0.00	0.00	0.94	(0.62)	2.19
3025	2.16	0.33	0.09	(1.83)	1.77	(3.15)	9.89	(3.03)	15.41
2412	0.40	(0.02)	0.00	(0.19)	0.00	0.00	0.82	(1.19)	2.43
3416	1.12	0.15	0.02	5.37	1.38	(1.39)	3.02	(2.47)	6.73
6561	1.47	0.01	(0.03)	0.16	1.77	(1.73)	3.63	(2.52)	14.39
8101	12.52	7.80	0.00	(1.49)	0.00	0.00	9.91	0.00	400.00
6142	2.21	0.24	0.04	(3.87)	2.31	(3.05)	5.09	(4.88)	15.95

Be your own money manager

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