Century Wind Correlations
| 2072 Stock | TWD 300.50 3.50 1.15% |
The current 90-days correlation between Century Wind Power and CTCI Corp is 0.37 (i.e., Weak diversification). The correlation of Century Wind 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.
Century Wind Correlation With Market
Average diversification
The correlation between Century Wind Power and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Century Wind Power and DJI in the same portfolio, assuming nothing else is changed.
Century |
The ability to find closely correlated positions to Century Wind could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Century Wind 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 Century Wind - 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 Century Wind Power to buy it.
Moving together with Century Stock
| 0.91 | 9933 | CTCI Corp | PairCorr |
| 0.7 | 3703 | Continental Holdings Corp | PairCorr |
| 0.64 | 2597 | Ruentex Engineering | PairCorr |
| 0.83 | 2515 | BES Engineering | PairCorr |
| 0.77 | 2535 | Da Cin Construction | PairCorr |
Moving against Century Stock
| 0.84 | 2881A | Fubon Financial Holding | PairCorr |
| 0.83 | 2882B | Cathay Financial Holding | PairCorr |
| 0.78 | 2317 | Hon Hai Precision | PairCorr |
| 0.73 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.72 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.71 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.69 | 2881B | Fubon Financial Holding | PairCorr |
| 0.67 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.65 | 2882 | Cathay Financial Holding | PairCorr |
| 0.62 | 2609 | Yang Ming Marine | PairCorr |
| 0.61 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.6 | 5536 | Acter | PairCorr |
| 0.6 | 2454 | MediaTek | PairCorr |
| 0.55 | 2882A | Cathay Financial Holding Earnings Call This Week | PairCorr |
| 0.48 | 2404 | United Integrated | PairCorr |
Related Correlations Analysis
| -0.64 | 0.01 | -0.41 | -0.21 | 0.13 | 2404 | ||
| -0.64 | 0.54 | 0.83 | 0.76 | -0.03 | 9933 | ||
| 0.01 | 0.54 | 0.81 | 0.8 | 0.28 | 2597 | ||
| -0.41 | 0.83 | 0.81 | 0.9 | 0.2 | 2515 | ||
| -0.21 | 0.76 | 0.8 | 0.9 | 0.26 | 2535 | ||
| 0.13 | -0.03 | 0.28 | 0.2 | 0.26 | 6139 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Century Stock performing well and Century Wind 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 Century Wind'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2404 | 1.23 | 0.28 | 0.12 | (4.73) | 0.96 | 2.67 | 9.57 | |||
| 9933 | 0.73 | (0.23) | 0.00 | 1.18 | 0.00 | 1.66 | 5.01 | |||
| 2597 | 1.25 | (0.12) | 0.00 | (1.29) | 0.00 | 2.76 | 7.37 | |||
| 2515 | 1.44 | (0.31) | 0.00 | (4.56) | 0.00 | 2.83 | 8.50 | |||
| 2535 | 0.63 | (0.17) | 0.00 | (0.87) | 0.00 | 1.22 | 4.59 | |||
| 6139 | 2.15 | (0.05) | 0.00 | 0.34 | 0.00 | 5.07 | 13.60 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Century Wind without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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