Grand Pacific Correlations

1312A Stock

TWD 22.30 0.00 0.00%

The current 90-days correlation between Grand Pacific Petroc and Phoenix Silicon International is 0.1 (i.e., Average diversification). The correlation of Grand Pacific 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.

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

Moving together with Grand Stock

0.82	1301	Formosa Plastics Corp	Pair Corr
0.86	1326	Formosa Chemicals Fibre	Pair Corr
0.84	1773	Shiny Chemical Industrial	Pair Corr
0.9	1723	China Steel Chemical	Pair Corr
0.9	1313	UPC Technology Corp	Pair Corr
0.72	1312	Grand Pacific Petroc	Pair Corr
0.76	1710	Oriental Union Chemical	Pair Corr
0.71	1726	Yung Chi Paint	Pair Corr
0.75	5508	Yungshin Construction	Pair Corr
0.82	8072	AV Tech Corp	Pair Corr
0.69	2545	Huang Hsiang Construction	Pair Corr
0.74	1416	Kwong Fong Industries	Pair Corr
0.8	5356	Sirtec International	Pair Corr
0.93	2538	Kee Tai Properties	Pair Corr

Moving against Grand Stock

0.72	2597	Ruentex Engineering	Pair Corr
0.66	0050	YuantaP shares Taiwan	Pair Corr
0.59	0057	Fubon MSCI Taiwan	Pair Corr
0.54	0053	YuantaP shares Taiwan	Pair Corr

Related Correlations Analysis

	8028	4711	4755	1326	1727	1314	1720	4763	4722
8028		0.55	0.24	0.38	0.5	0.32	0.39	0.23	-0.38	8028
4711	0.55		0.26	0.91	0.9	0.83	0.81	0.11	-0.68	4711
4755	0.24	0.26		0.08	0.07	0.36	0.4	0.83	-0.24	4755
1326	0.38	0.91	0.08		0.97	0.9	0.81	-0.09	-0.69	1326
1727	0.5	0.9	0.07	0.97		0.85	0.82	-0.08	-0.71	1727
1314	0.32	0.83	0.36	0.9	0.85		0.89	0.19	-0.66	1314
1720	0.39	0.81	0.4	0.81	0.82	0.89		0.31	-0.65	1720
4763	0.23	0.11	0.83	-0.09	-0.08	0.19	0.31		-0.24	4763
4722	-0.38	-0.68	-0.24	-0.69	-0.71	-0.66	-0.65	-0.24		4722
	8028	4711	4755	1326	1727	1314	1720	4763	4722

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

1727	+ 0.97	1326
1326	+ 0.91	4711
1727	+ 0.9	4711
1314	+ 0.9	1326
1720	+ 0.89	1314
1314	+ 0.85	1727

High negative correlations

4722	- 0.71	1727
4722	- 0.69	1326
4722	- 0.68	4711
4722	- 0.66	1314
4722	- 0.65	1720
4722	- 0.38	8028

Risk-Adjusted Indicators

There is a big difference between Grand Stock performing well and Grand Pacific 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 Grand Pacific'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
8028	2.37	(0.06)	0.00	0.23	0.00	0.00	6.67	(5.82)	13.93
4711	0.81	(0.32)	0.00	58.95	0.00	0.00	1.03	(2.74)	6.37
4755	1.71	(0.05)	0.00	(0.27)	0.00	0.00	4.55	(3.16)	15.28
1326	1.72	(0.57)	0.00	(0.82)	0.00	0.00	3.30	(3.55)	9.12
1727	1.50	(0.43)	0.00	(2.39)	0.00	0.00	3.23	(4.42)	9.89
1314	1.16	(0.16)	0.00	(0.56)	0.00	0.00	2.46	(2.65)	6.68
1720	0.57	0.00	0.00	0.00	0.00	0.00	1.57	(1.56)	4.13
4763	1.28	0.01	(0.04)	0.02	1.64	(1.24)	2.73	(2.79)	7.44
4722	0.92	0.18	0.11	1.50	0.80	(1.05)	2.80	(1.68)	5.88

Grand Pacific 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 Grand Pacific stock to make a market-neutral strategy. Peer analysis of Grand Pacific could also be used in its relative valuation, which is a method of valuing Grand Pacific by comparing valuation metrics with similar companies.

Phoenix Silicon International Yong Shun Chemical San Fu Chemical Formosa Chemicals Fibre Chung Hwa Chemical China Petrochemical Development Standard Chemical Pharmaceutical Jinan Acetate Chemical Qualipoly Chemical Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC