TTET Union Correlations

1232 Stock

TWD 147.00 1.00 0.68%

The current 90-days correlation between TTET Union Corp and Ruentex Development Co is 0.17 (i.e., Average diversification). The correlation of TTET Union 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.

TTET Union Correlation With Market

Significant diversification

The correlation between TTET Union Corp and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TTET Union Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TTET Stock

0.67	3711	ASE Industrial Holding	Pair Corr
0.72	910322	Tingyi Holding Corp	Pair Corr
0.72	2882A	Cathay Financial Holding Earnings Call Tomorrow	Pair Corr
0.71	2882	Cathay Financial Holding	Pair Corr
0.7	0053	YuantaP shares Taiwan	Pair Corr
0.64	0057	Fubon MSCI Taiwan	Pair Corr

Related Correlations Analysis

	1101	9945	6438	9933	6697	1777	9921	6414
1101		0.46	0.11	-0.13	-0.1	0.46	-0.07	0.18	1101
9945	0.46		-0.26	0.39	-0.18	0.2	0.43	-0.13	9945
6438	0.11	-0.26		-0.91	0.57	0.43	-0.93	0.84	6438
9933	-0.13	0.39	-0.91		-0.62	-0.35	0.95	-0.84	9933
6697	-0.1	-0.18	0.57	-0.62		0.01	-0.54	0.53	6697
1777	0.46	0.2	0.43	-0.35	0.01		-0.34	0.33	1777
9921	-0.07	0.43	-0.93	0.95	-0.54	-0.34		-0.81	9921
6414	0.18	-0.13	0.84	-0.84	0.53	0.33	-0.81		6414
	1101	9945	6438	9933	6697	1777	9921	6414

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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

9921	+ 0.95	9933
6414	+ 0.84	6438
6697	+ 0.57	6438
6414	+ 0.53	6697
9945	+ 0.46	1101
1777	+ 0.46	1101

High negative correlations

9921	- 0.93	6438
9933	- 0.91	6438
6414	- 0.84	9933
6414	- 0.81	9921
6697	- 0.62	9933
9921	- 0.54	6697

Risk-Adjusted Indicators

There is a big difference between TTET Stock performing well and TTET Union 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 TTET Union'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
1101	0.63	0.04	(0.12)	(0.10)	0.74	(0.72)	1.50	(1.37)	3.96
9945	1.03	(0.05)	0.00	(1.97)	0.00	0.00	1.89	(2.13)	7.35
6438	2.61	0.97	0.36	1.15	1.73	(3.45)	9.79	(2.88)	17.42
9933	0.73	(0.23)	0.00	1.18	0.00	0.00	1.66	(1.67)	5.01
6697	1.27	0.12	(0.01)	(0.68)	1.59	(1.67)	2.33	(2.68)	15.29
1777	0.64	0.07	(0.05)	0.98	0.75	(0.74)	2.04	(1.36)	5.20
9921	1.62	(0.66)	0.00	3.93	0.00	0.00	1.72	(5.13)	14.43
6414	1.02	0.06	(0.01)	0.33	1.23	(1.23)	2.40	(2.18)	6.16

Be your own money manager

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