Fubon Taiwan Correlations

0052 Stock

183.90 1.20 0.66%

The current 90-days correlation between Fubon Taiwan Technology and Taiwan Taomee Co is -0.05 (i.e., Good diversification). The correlation of Fubon Taiwan 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.

Fubon Taiwan Correlation With Market

Modest diversification

The correlation between Fubon Taiwan Technology and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fubon Taiwan Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fubon Stock

0.88	6533	Andes Technology Corp	Pair Corr
0.72	6763	Green World Fintech	Pair Corr
0.66	6223	MPI Corporation	Pair Corr
0.92	0050	YuantaP shares Taiwan	Pair Corr
0.98	0053	YuantaP shares Taiwan	Pair Corr
0.99	0057	Fubon MSCI Taiwan	Pair Corr

Moving against Fubon Stock

0.64

6488

GlobalWafers

Pair Corr

Related Correlations Analysis

	6428	6531	4968	4961	5309	6533	3552	6763	6488	6223
6428		0.49	-0.31	-0.2	0.12	0.3	0.22	0.65	-0.4	0.32	6428
6531	0.49		-0.01	0.21	0.12	0.44	0.13	0.35	0.0	0.33	6531
4968	-0.31	-0.01		0.37	0.5	0.04	-0.02	-0.29	0.13	-0.07	4968
4961	-0.2	0.21	0.37		-0.41	0.23	-0.62	-0.29	0.42	0.35	4961
5309	0.12	0.12	0.5	-0.41		-0.11	0.55	0.12	-0.19	-0.34	5309
6533	0.3	0.44	0.04	0.23	-0.11		0.36	0.6	-0.57	0.67	6533
3552	0.22	0.13	-0.02	-0.62	0.55	0.36		0.63	-0.67	-0.03	3552
6763	0.65	0.35	-0.29	-0.29	0.12	0.6	0.63		-0.76	0.53	6763
6488	-0.4	0.0	0.13	0.42	-0.19	-0.57	-0.67	-0.76		-0.32	6488
6223	0.32	0.33	-0.07	0.35	-0.34	0.67	-0.03	0.53	-0.32		6223
	6428	6531	4968	4961	5309	6533	3552	6763	6488	6223

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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

6223	+ 0.67	6533
6763	+ 0.65	6428
6763	+ 0.63	3552
6763	+ 0.6	6533
3552	+ 0.55	5309
6223	+ 0.53	6763

High negative correlations

6488	- 0.76	6763
6488	- 0.67	3552
3552	- 0.62	4961
6488	- 0.57	6533
5309	- 0.41	4961
6488	- 0.4	6428

Risk-Adjusted Indicators

There is a big difference between Fubon Stock performing well and Fubon Taiwan 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 Fubon Taiwan'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
6428	0.72	0.01	(0.03)	0.02	1.35	(2.96)	3.90	(4.25)	9.72
6531	1.64	(0.17)	0.00	(0.15)	0.00	0.00	3.55	(3.23)	11.20
4968	2.71	0.26	0.06	0.64	2.95	(3.13)	6.71	(4.68)	16.99
4961	1.41	(0.15)	0.00	(0.89)	0.00	0.00	2.92	(3.31)	13.37
5309	2.16	0.16	0.08	0.28	1.82	(3.04)	7.99	(3.41)	15.19
6533	1.92	(0.04)	(0.04)	0.06	2.28	(2.48)	4.16	(3.21)	11.64
3552	2.17	0.27	0.06	1.60	2.16	(2.69)	9.85	(3.85)	16.05
6763	3.38	0.65	0.12	(1.62)	3.01	(5.21)	9.89	(5.66)	19.94
6488	1.11	(0.26)	0.00	(1.28)	0.00	0.00	2.11	(2.44)	8.69
6223	2.17	0.00	(0.03)	0.14	2.68	(2.45)	6.13	(5.18)	13.88

Be your own money manager

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