Taita Chemical Correlations
| 1309 Stock | TWD 16.15 0.20 1.22% |
The current 90-days correlation between Taita Chemical and China General Plastics is 0.64 (i.e., Poor diversification). The correlation of Taita Chemical 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.
Taita Chemical Correlation With Market
Average diversification
The correlation between Taita Chemical Co and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taita Chemical Co and DJI in the same portfolio, assuming nothing else is changed.
Taita |
The ability to find closely correlated positions to Taita Chemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taita Chemical 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 Taita Chemical - 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 Taita Chemical Co to buy it.
Moving together with Taita Stock
| 0.75 | 9962 | Yeou Yih Steel | PairCorr |
| 0.62 | 2884 | ESUN Financial Holding | PairCorr |
| 0.68 | 5880 | Taiwan Cooperative | PairCorr |
| 0.67 | 0051 | YuantaP shares Taiwan | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Taita Stock performing well and Taita Chemical 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 Taita Chemical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 1305 | 1.30 | (0.28) | 0.00 | (5.85) | 0.00 | 2.53 | 13.12 | |||
| 1308 | 1.70 | (0.20) | 0.00 | (0.16) | 0.00 | 5.17 | 15.86 | |||
| 1304 | 1.39 | (0.24) | 0.00 | (0.46) | 0.00 | 3.57 | 9.43 | |||
| 1312 | 1.06 | (0.24) | 0.00 | (0.96) | 0.00 | 2.33 | 9.88 | |||
| 1313 | 1.24 | (0.17) | 0.00 | (0.73) | 0.00 | 2.25 | 11.86 |
Be your own money manager
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