Tung Ho Correlations
| 2006 Stock | TWD 68.20 0.10 0.15% |
The current 90-days correlation between Tung Ho Steel and Feng Hsin Steel is 0.49 (i.e., Very weak diversification). The correlation of Tung Ho 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.
Tung Ho Correlation With Market
Good diversification
The correlation between Tung Ho Steel and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tung Ho Steel and DJI in the same portfolio, assuming nothing else is changed.
Tung |
The ability to find closely correlated positions to Tung Ho could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tung Ho 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 Tung Ho - 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 Tung Ho Steel to buy it.
Moving together with Tung Stock
| 0.84 | 9962 | Yeou Yih Steel | PairCorr |
| 0.64 | 2474 | Catcher Technology | PairCorr |
| 0.8 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against Tung Stock
| 0.9 | 3008 | LARGAN Precision | PairCorr |
| 0.82 | 2454 | MediaTek | PairCorr |
| 0.8 | 5269 | Asmedia Technology | PairCorr |
| 0.78 | 6669 | Wiwynn Corp | PairCorr |
| 0.68 | 6510 | Chunghwa Precision Test | PairCorr |
| 0.45 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.42 | 2357 | Asustek Computer | PairCorr |
| 0.39 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.34 | 4966 | Parade Technologies Earnings Call This Week | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Tung Stock performing well and Tung Ho 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 Tung Ho'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2002 | 0.90 | (0.16) | 0.00 | (10.24) | 0.00 | 1.81 | 5.23 | |||
| 2015 | 1.06 | (0.35) | 0.00 | 32.42 | 0.00 | 1.79 | 6.77 | |||
| 2027 | 1.35 | 0.03 | (0.02) | 0.21 | 1.51 | 3.95 | 9.89 | |||
| 2014 | 1.54 | (0.11) | 0.00 | 1.85 | 0.00 | 3.00 | 8.48 | |||
| 1102 | 0.82 | (0.21) | 0.00 | (3.07) | 0.00 | 1.36 | 4.59 |
Tung Ho 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 Tung Ho stock to make a market-neutral strategy. Peer analysis of Tung Ho could also be used in its relative valuation, which is a method of valuing Tung Ho by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Tung Ho Corporate Management
Elected by the shareholders, the Tung Ho's board of directors comprises two types of representatives: Tung Ho inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tung. The board's role is to monitor Tung Ho's management team and ensure that shareholders' interests are well served. Tung Ho'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, Tung Ho's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Binghua Huang | Deputy General Manager-Business | Profile | |
| JunXian Chao | Ma Office | Profile | |
| Zhao Liu | Investment Mang | Profile | |
| Kuanren Gu | Deputy General Manager-Business | Profile | |
| JuYu Ho | Head Division | Profile | |
| RuYu He | Head Department | Profile |