Solar Applied Correlations
| 1785 Stock | TWD 60.70 0.80 1.30% |
The current 90-days correlation between Solar Applied Materials and Wafer Works is 0.25 (i.e., Modest diversification). The correlation of Solar Applied 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.
Solar Applied Correlation With Market
Significant diversification
The correlation between Solar Applied Materials and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Solar Applied Materials and DJI in the same portfolio, assuming nothing else is changed.
Solar |
The ability to find closely correlated positions to Solar Applied could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Solar Applied 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 Solar Applied - 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 Solar Applied Materials to buy it.
Moving together with Solar Stock
Moving against Solar Stock
Related Correlations Analysis
| 0.93 | 0.84 | -0.4 | 0.92 | 6182 | ||
| 0.93 | 0.83 | -0.45 | 0.92 | 5483 | ||
| 0.84 | 0.83 | -0.61 | 0.92 | 1565 | ||
| -0.4 | -0.45 | -0.61 | -0.53 | 8299 | ||
| 0.92 | 0.92 | 0.92 | -0.53 | 3260 | ||
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Solar Stock performing well and Solar Applied 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 Solar Applied'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 6182 | 1.73 | (0.29) | 0.00 | 0.94 | 0.00 | 3.26 | 16.65 | |||
| 5483 | 1.43 | (0.49) | 0.00 | 20.52 | 0.00 | 2.19 | 12.62 | |||
| 1565 | 1.38 | (0.19) | 0.00 | (0.36) | 0.00 | 3.07 | 11.69 | |||
| 8299 | 1.83 | 0.00 | (0.02) | 0.06 | 2.22 | 3.92 | 11.05 | |||
| 3260 | 1.16 | (0.24) | 0.00 | (0.96) | 0.00 | 1.70 | 9.99 |
Solar Applied 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 Solar Applied stock to make a market-neutral strategy. Peer analysis of Solar Applied could also be used in its relative valuation, which is a method of valuing Solar Applied by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Solar Applied Corporate Management
Elected by the shareholders, the Solar Applied's board of directors comprises two types of representatives: Solar Applied inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Solar. The board's role is to monitor Solar Applied's management team and ensure that shareholders' interests are well served. Solar Applied'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, Solar Applied's outside directors are responsible for providing unbiased perspectives on the board's policies.
| ChienYung Ma | CEO Director | Profile | |
| Jeffrey Chen | Deputy Mang | Profile | |
| ChiiFeng Huang | Pres Chairman | Profile | |
| MingTa Fan | Sr Unit | Profile |