Taiyen Biotech Correlations
| 1737 Stock | TWD 31.75 0.00 0.00% |
The current 90-days correlation between Taiyen Biotech and Taisun Enterprise Co is 0.45 (i.e., Very weak diversification). The correlation of Taiyen Biotech 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.
Taiyen Biotech Correlation With Market
Good diversification
The correlation between Taiyen Biotech Co and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taiyen Biotech Co and DJI in the same portfolio, assuming nothing else is changed.
Taiyen |
The ability to find closely correlated positions to Taiyen Biotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taiyen Biotech 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 Taiyen Biotech - 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 Taiyen Biotech Co to buy it.
Moving together with Taiyen Stock
| 0.82 | 2317 | Hon Hai Precision | PairCorr |
| 0.63 | 2882 | Cathay Financial Holding | PairCorr |
| 0.91 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against Taiyen Stock
| 0.78 | 2881A | Fubon Financial Holding | PairCorr |
| 0.73 | 2891 | CTBC Financial Holding | PairCorr |
| 0.68 | 2882B | Cathay Financial Holding | PairCorr |
| 0.59 | 2881B | Fubon Financial Holding | PairCorr |
| 0.53 | 2454 | MediaTek | PairCorr |
| 0.33 | 2330 | Taiwan Semiconductor | PairCorr |
Related Correlations Analysis
| 0.65 | 0.74 | 0.05 | 0.77 | 1216 | ||
| 0.65 | 0.84 | 0.62 | 0.91 | 1218 | ||
| 0.74 | 0.84 | 0.38 | 0.88 | 1217 | ||
| 0.05 | 0.62 | 0.38 | 0.47 | 1210 | ||
| 0.77 | 0.91 | 0.88 | 0.47 | 1103 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Taiyen Stock performing well and Taiyen Biotech 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 Taiyen Biotech'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 1216 | 0.96 | (0.18) | 0.00 | 2.29 | 0.00 | 1.69 | 4.68 | |||
| 1218 | 0.63 | (0.08) | 0.00 | (0.90) | 0.00 | 1.44 | 4.81 | |||
| 1217 | 0.52 | (0.05) | 0.00 | (2.18) | 0.00 | 1.28 | 3.02 | |||
| 1210 | 0.62 | (0.02) | (0.10) | (0.03) | 0.79 | 1.17 | 4.50 | |||
| 1103 | 0.68 | (0.05) | 0.00 | (0.45) | 0.00 | 1.39 | 3.83 |
Taiyen Biotech 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 Taiyen Biotech stock to make a market-neutral strategy. Peer analysis of Taiyen Biotech could also be used in its relative valuation, which is a method of valuing Taiyen Biotech by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Taiyen Biotech Corporate Management
Elected by the shareholders, the Taiyen Biotech's board of directors comprises two types of representatives: Taiyen Biotech inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Taiyen. The board's role is to monitor Taiyen Biotech's management team and ensure that shareholders' interests are well served. Taiyen Biotech'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, Taiyen Biotech's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Wei Su | Director Department | Profile | |
| MeiYu Chuang | Chief Auditor | Profile | |
| MeiWen Chen | Director Department | Profile | |
| TungHsuan Yang | Director Office | Profile | |
| ShiHui Chen | President | Profile | |
| ChiehHan Lee | VP Department | Profile |