S Tech Correlations

1584 Stock

TWD 26.85 0.05 0.19%

The current 90-days correlation between S Tech Corp and Space Shuttle Hi Tech is 0.3 (i.e., Weak diversification). The correlation of S Tech 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.

S Tech Correlation With Market

Average diversification

The correlation between S Tech Corp and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding S Tech Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with 1584 Stock

0.69	2474	Catcher Technology	Pair Corr
0.93	1532	China Metal Products	Pair Corr
0.73	6235	Waffer Technology Corp	Pair Corr
0.88	1589	Yeong Guan Energy	Pair Corr
0.87	3631	Chernan Metal Industrial	Pair Corr
0.96	4174	OBI Pharma	Pair Corr
0.8	5514	Sunfon Construction	Pair Corr
0.9	1435	Chung Fu Tex	Pair Corr
0.91	4157	Taigen Biopharmaceutica	Pair Corr
0.67	4192	SynCore Biotechnology	Pair Corr
0.94	1235	Shin Tai Industry	Pair Corr
0.87	6461	Intech Biopharm	Pair Corr
0.8	0051	YuantaP shares Taiwan	Pair Corr

Moving against 1584 Stock

0.86	4912	Lemtech Holdings	Pair Corr
0.5	3376	Shin Zu Shing	Pair Corr
0.49	0050	YuantaP shares Taiwan	Pair Corr
0.47	6620	Handa Pharmaceuticals	Pair Corr
0.42	0057	Fubon MSCI Taiwan	Pair Corr
0.38	1569	Bin Chuan Enterprise	Pair Corr

Related Correlations Analysis

	6477	4130	5258	8016	2440	5474	3312	6229	5269
6477		0.53	0.02	0.04	-0.33	0.22	-0.3	-0.13	0.3	6477
4130	0.53		0.22	-0.01	0.03	-0.32	0.09	0.04	-0.05	4130
5258	0.02	0.22		0.77	0.82	-0.24	0.86	0.9	-0.63	5258
8016	0.04	-0.01	0.77		0.71	0.21	0.63	0.73	-0.26	8016
2440	-0.33	0.03	0.82	0.71		-0.32	0.95	0.89	-0.68	2440
5474	0.22	-0.32	-0.24	0.21	-0.32		-0.46	-0.21	0.65	5474
3312	-0.3	0.09	0.86	0.63	0.95	-0.46		0.89	-0.75	3312
6229	-0.13	0.04	0.9	0.73	0.89	-0.21	0.89		-0.57	6229
5269	0.3	-0.05	-0.63	-0.26	-0.68	0.65	-0.75	-0.57		5269
	6477	4130	5258	8016	2440	5474	3312	6229	5269

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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

3312	+ 0.95	2440
6229	+ 0.9	5258
6229	+ 0.89	2440
6229	+ 0.89	3312
3312	+ 0.86	5258
2440	+ 0.82	5258

High negative correlations

5269	- 0.75	3312
5269	- 0.68	2440
5269	- 0.63	5258
5269	- 0.57	6229
3312	- 0.46	5474
2440	- 0.33	6477

Risk-Adjusted Indicators

There is a big difference between 1584 Stock performing well and S Tech 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 S Tech'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
6477	2.00	0.25	0.08	0.78	2.21	(2.64)	5.75	(3.49)	14.87
4130	0.91	0.08	0.01	0.53	1.02	(1.62)	1.81	(1.32)	15.76
5258	1.86	(0.61)	0.00	(27.71)	0.00	0.00	3.30	(3.93)	15.59
8016	1.15	(0.15)	0.00	0.68	0.00	0.00	2.15	(2.53)	6.16
2440	1.04	(0.27)	0.00	3.31	0.00	0.00	1.68	(3.11)	8.36
5474	2.61	0.16	0.01	(0.26)	2.94	(3.21)	9.61	(5.31)	19.09
3312	1.80	(0.42)	0.00	0.93	0.00	0.00	3.21	(4.11)	11.38
6229	1.39	(0.43)	0.00	(0.78)	0.00	0.00	2.46	(3.58)	8.95
5269	2.14	0.35	0.09	(0.49)	1.88	(2.66)	5.96	(3.32)	13.57

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

ANJI Technology Co Genovate Biotechnology Co Castles Technology Co Sitronix Technology Corp Space Shuttle Hi Tech Yuan High Tech Development GMI Technology V Tac Technology Co Asmedia Technology American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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