Lan Fa Correlations

1459 Stock

TWD 12.50 0.20 1.57%

The current 90-days correlation between Lan Fa Textile and De Licacy Industrial is 0.03 (i.e., Significant diversification). The correlation of Lan Fa 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.

Lan Fa Correlation With Market

Good diversification

The correlation between Lan Fa Textile and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lan Fa Textile and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Lan Stock

0.69	2603	Evergreen Marine Corp	Pair Corr
0.82	6266	Top Union Electronics	Pair Corr

Moving against Lan Stock

0.59	0050	YuantaP shares Taiwan	Pair Corr
0.58	0053	YuantaP shares Taiwan	Pair Corr
0.56	0057	Fubon MSCI Taiwan	Pair Corr
0.53	3008	LARGAN Precision	Pair Corr
0.5	6732	Sensortek Technology Corp	Pair Corr
0.33	5269	Asmedia Technology	Pair Corr

Related Correlations Analysis

	1444	1447	1464	1463	1417
1444		0.5	-0.28	-0.14	0.7	1444
1447	0.5		0.47	0.2	0.38	1447
1464	-0.28	0.47		0.4	-0.15	1464
1463	-0.14	0.2	0.4		0.31	1463
1417	0.7	0.38	-0.15	0.31		1417
	1444	1447	1464	1463	1417

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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

1417	+ 0.7	1444
1447	+ 0.5	1444
1464	+ 0.47	1447
1463	+ 0.4	1464
1417	+ 0.38	1447
1417	+ 0.31	1463

High negative correlations

1464	- 0.28	1444
1417	- 0.15	1464
1463	- 0.14	1444

Risk-Adjusted Indicators

There is a big difference between Lan Stock performing well and Lan Fa 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 Lan Fa'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
1444	0.66	(0.22)	0.00	(3.04)	0.00	0.00	0.94	(1.70)	3.58
1447	0.72	(0.05)	0.00	(0.74)	0.00	0.00	1.85	(1.69)	3.81
1464	1.46	0.09	0.08	(0.62)	1.84	(1.61)	3.56	(2.70)	10.74
1463	1.62	0.19	0.08	0.24	2.05	(1.91)	6.88	(3.41)	16.56
1417	0.83	(0.17)	0.00	30.32	0.00	0.00	1.25	(2.02)	5.98

Be your own money manager

Our tools can tell you how much better you can do entering a position in Lan Fa 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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