Ta Ya Correlations

1609 Stock  TWD 41.00  0.50  1.23%   
The current 90-days correlation between Ta Ya Electric and Chung Hsin Electric Machinery is 0.65 (i.e., Poor diversification). The correlation of Ta Ya 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.

Ta Ya Correlation With Market

Good diversification

The correlation between Ta Ya Electric and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ta Ya Electric and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Ta Ya could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ta Ya 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 Ta Ya - 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 Ta Ya Electric to buy it.

Moving together with 1609 Stock

  0.792002 China Steel CorpPairCorr
  0.775880 Taiwan CooperativePairCorr
  0.720051 YuantaP shares TaiwanPairCorr

Moving against 1609 Stock

  0.822891C CTBC Financial HoldingPairCorr
  0.762891B CTBC Financial HoldingPairCorr
  0.662888 Shin Kong FinancialPairCorr
  0.632330 Taiwan SemiconductorPairCorr
  0.592891 CTBC Financial HoldingPairCorr
  0.440050 YuantaP shares TaiwanPairCorr
  0.370057 Fubon MSCI TaiwanPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between 1609 Stock performing well and Ta Ya 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 Ta Ya'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.

Ta Ya 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 Ta Ya stock to make a market-neutral strategy. Peer analysis of Ta Ya could also be used in its relative valuation, which is a method of valuing Ta Ya by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Ta Ya Corporate Management

Elected by the shareholders, the Ta Ya's board of directors comprises two types of representatives: Ta Ya inside directors who are chosen from within the company, and outside directors, selected externally and held independent of 1609. The board's role is to monitor Ta Ya's management team and ensure that shareholders' interests are well served. Ta Ya's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Ta Ya's outside directors are responsible for providing unbiased perspectives on the board's policies.