YuantaP Shares Correlations

006203 Etf

TWD 89.60 1.40 1.54%

The current 90-days correlation between YuantaP shares MSCI and Yuanta Daily CSI is -0.04 (i.e., Good 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.

YuantaP Shares Correlation With Market

Modest diversification

The correlation between YuantaP shares MSCI Taiwan and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding YuantaP shares MSCI Taiwan 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 MSCI Taiwan to buy it.

Moving together with YuantaP Etf

0.92	0050	YuantaP shares Taiwan	Pair Corr
0.75	00881	Cathay Taiwan 5G	Pair Corr
0.71	00637L	Yuanta Daily CSI	Pair Corr
0.65	00878	Cathay Sustainability	Pair Corr
0.97	00631L	Yuanta Daily Taiwan	Pair Corr
0.98	0053	YuantaP shares Taiwan	Pair Corr
1.0	0057	Fubon MSCI Taiwan	Pair Corr

Moving against YuantaP Etf

0.98	00686R	Capital Taiex Daily	Pair Corr
0.98	00664R	Cathay TAIEX Daily	Pair Corr
0.94	00632R	Yuanta Daily Taiwan	Pair Corr
0.89	00648R	Yuanta Daily SP	Pair Corr
0.83	00711B	Fuh Hwa Emerging	Pair Corr
0.81	00669R	Cathay DJIA Inv	Pair Corr
0.79	00674R	Yuanta Securities	Pair Corr
0.69	00712	Fuh Hwa FTSE	Pair Corr
0.4	00885	Fubon FTSE Vietnam	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	-0.01	0.59	0.02	0.66	0.28	-0.55	0.71	META
MSFT	0.28		0.24	0.11	0.18	-0.01	0.01	-0.17	0.12	-0.19	MSFT
UBER	0.56	0.24		-0.03	0.0	0.26	0.03	-0.11	0.05	0.36	UBER
F	-0.01	0.11	-0.03		0.06	-0.38	0.4	0.65	-0.28	0.3	F
T	0.59	0.18	0.0	0.06		-0.5	0.75	0.52	-0.77	0.38	T
A	0.02	-0.01	0.26	-0.38	-0.5		-0.48	-0.64	0.64	-0.01	A
CRM	0.66	0.01	0.03	0.4	0.75	-0.48		0.84	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.11	0.65	0.52	-0.64	0.84		-0.83	0.51	JPM
MRK	-0.55	0.12	0.05	-0.28	-0.77	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.36	0.3	0.38	-0.01	0.68	0.51	-0.56		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

JPM	+ 0.84	CRM
CRM	+ 0.75	T
XOM	+ 0.71	META
XOM	+ 0.68	CRM
CRM	+ 0.66	META
JPM	+ 0.65	F

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.77	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.55	META

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	1.06	0.02	(0.01)	0.15	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.83)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.25	(1.79)	2.69	(2.44)	20.10
F	1.41	(0.13)	(0.03)	0.03	2.20	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.13	(10.00)	0.86	(1.04)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.26	0.21	0.35	0.91	(1.51)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.88	(0.24)	0.00	(0.81)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.03	0.00	(0.04)	0.12	1.25	(1.10)	2.14	(2.09)	5.78

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