YuantaP Shares Correlations

0056 Etf

35.78 0.03 0.08%

The current 90-days correlation between YuantaP shares Taiwan and YuantaP shares Taiwan Top is 0.79 (i.e., Poor diversification). The correlation of YuantaP Shares 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.

YuantaP Shares Correlation With Market

Good diversification

The correlation between YuantaP shares Taiwan Dividend and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding YuantaP shares Taiwan Dividend and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with YuantaP Etf

0.84	00878	Cathay Sustainability	Pair Corr
0.94	0051	YuantaP shares Taiwan	Pair Corr

Moving against YuantaP Etf

0.56	00632R	Yuanta Daily Taiwan	Pair Corr
0.45	00715L	Paradigm SP GSCI	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.36	-0.36	-0.5	0.24	0.77	0.4	0.13	-0.02	-0.28	META
MSFT	0.36		-0.58	-0.32	0.48	0.2	0.55	0.3	0.05	-0.46	MSFT
UBER	-0.36	-0.58		0.74	-0.19	-0.01	-0.47	0.06	-0.05	0.77	UBER
F	-0.5	-0.32	0.74		0.06	-0.31	-0.16	0.03	-0.01	0.87	F
T	0.24	0.48	-0.19	0.06		0.11	0.51	0.59	0.1	-0.17	T
A	0.77	0.2	-0.01	-0.31	0.11		0.1	0.26	-0.03	-0.17	A
CRM	0.4	0.55	-0.47	-0.16	0.51	0.1		0.0	0.18	-0.16	CRM
JPM	0.13	0.3	0.06	0.03	0.59	0.26	0.0		-0.27	-0.24	JPM
MRK	-0.02	0.05	-0.05	-0.01	0.1	-0.03	0.18	-0.27		-0.01	MRK
XOM	-0.28	-0.46	0.77	0.87	-0.17	-0.17	-0.16	-0.24	-0.01		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.87	F
A	+ 0.77	META
XOM	+ 0.77	UBER
F	+ 0.74	UBER
JPM	+ 0.59	T
CRM	+ 0.55	MSFT

High negative correlations

UBER	- 0.58	MSFT
F	- 0.5	META
CRM	- 0.47	UBER
XOM	- 0.46	MSFT
UBER	- 0.36	META
F	- 0.32	MSFT

YuantaP Shares Competition Risk-Adjusted Indicators

There is a big difference between YuantaP Etf performing well and YuantaP Shares ETF 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 YuantaP Shares' 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
META	1.39	0.31	0.17	0.79	1.22	(1.63)	3.43	(1.95)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.46	(0.19)	0.00	(0.30)	0.00	0.00	2.67	(2.53)	12.29
F	1.33	(0.08)	(0.05)	0.00	1.73	(1.43)	2.46	(2.89)	9.39
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.15	0.13	0.04	1.36	1.14	(1.37)	2.81	(2.16)	5.70
CRM	1.55	0.28	0.13	0.81	1.42	(1.88)	3.96	(2.95)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.03)	0.00	1.47	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

YuantaP Shares Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with YuantaP Shares etf to make a market-neutral strategy. Peer analysis of YuantaP Shares could also be used in its relative valuation, which is a method of valuing YuantaP Shares by comparing valuation metrics with similar companies.

YuantaP shares Taiwan Top YuantaP shares MSCI Taiwan YuantaP shares Taiwan GreTai YuantaP shares SSE50 YuantaP shares Taiwan Mid Cap YuantaP shares MSCI Taiwan YuantaP shares Taiwan Dividend YuantaP shares SP Custom YuantaP shares Taiwan Electronics American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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