Elitegroup Computer Correlations

2331 Stock

TWD 27.50 1.45 5.01%

The current 90-days correlation between Elitegroup Computer and Lanner Electronics is 0.08 (i.e., Significant diversification). The correlation of Elitegroup Computer 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.

Elitegroup Computer Correlation With Market

Very poor diversification

The correlation between Elitegroup Computer Systems and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elitegroup Computer Systems and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Elitegroup Computer could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elitegroup Computer 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 Elitegroup Computer - 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 Elitegroup Computer Systems to buy it.

Moving together with Elitegroup Stock

0.82	1449	Chia Her Industrial	Pair Corr
0.86	0051	YuantaP shares Taiwan	Pair Corr
0.85	0057	Fubon MSCI Taiwan	Pair Corr
0.8	0053	YuantaP shares Taiwan	Pair Corr
0.84	0050	YuantaP shares Taiwan	Pair Corr

Moving against Elitegroup Stock

0.6	2633	Taiwan High Speed	Pair Corr
0.56	2705	Leofoo Development	Pair Corr
0.51	6103	Avid Electronics Corp	Pair Corr
0.46	2820	China Bills Finance	Pair Corr
0.32	5903	Taiwan FamilyMart	Pair Corr

Related Correlations Analysis

	8234	6245	3022	8163	3032	8050	4967	6166	4977	6173
8234		0.57	0.56	0.61	0.35	0.42	-0.03	0.22	0.27	-0.05	8234
6245	0.57		0.46	0.81	0.84	0.94	-0.52	-0.44	-0.25	-0.29	6245
3022	0.56	0.46		0.59	0.31	0.48	-0.11	-0.01	-0.11	-0.02	3022
8163	0.61	0.81	0.59		0.73	0.76	-0.22	-0.42	-0.27	-0.2	8163
3032	0.35	0.84	0.31	0.73		0.8	-0.64	-0.68	-0.46	-0.58	3032
8050	0.42	0.94	0.48	0.76	0.8		-0.5	-0.56	-0.43	-0.17	8050
4967	-0.03	-0.52	-0.11	-0.22	-0.64	-0.5		0.33	0.23	0.65	4967
6166	0.22	-0.44	-0.01	-0.42	-0.68	-0.56	0.33		0.77	0.3	6166
4977	0.27	-0.25	-0.11	-0.27	-0.46	-0.43	0.23	0.77		0.13	4977
6173	-0.05	-0.29	-0.02	-0.2	-0.58	-0.17	0.65	0.3	0.13		6173
	8234	6245	3022	8163	3032	8050	4967	6166	4977	6173

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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

8050	+ 0.94	6245
3032	+ 0.84	6245
8163	+ 0.81	6245
8050	+ 0.8	3032
4977	+ 0.77	6166
8050	+ 0.76	8163

High negative correlations

6166	- 0.68	3032
4967	- 0.64	3032
6173	- 0.58	3032
6166	- 0.56	8050
4967	- 0.52	6245
4967	- 0.5	8050

Risk-Adjusted Indicators

There is a big difference between Elitegroup Stock performing well and Elitegroup Computer 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 Elitegroup Computer'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
8234	1.83	(0.03)	0.00	0.22	0.00	0.00	4.28	(3.21)	10.20
6245	1.28	(0.19)	0.00	0.60	0.00	0.00	2.62	(2.52)	11.65
3022	1.26	(0.08)	0.00	(0.65)	0.00	0.00	2.41	(2.31)	8.53
8163	1.43	(0.27)	0.00	(0.74)	0.00	0.00	2.59	(2.84)	12.96
3032	1.86	(0.29)	0.00	1.08	0.00	0.00	4.62	(3.93)	14.33
8050	1.07	(0.23)	0.00	15.57	0.00	0.00	2.31	(2.16)	6.77
4967	3.69	1.11	0.27	(2.39)	3.21	(4.48)	9.88	(5.68)	15.77
6166	1.52	0.07	0.02	0.14	2.38	(1.55)	4.09	(2.82)	14.96
4977	2.84	0.27	0.06	(1.28)	2.97	(3.58)	6.33	(5.00)	17.66
6173	2.75	0.38	0.10	(18.56)	2.73	(2.91)	6.47	(4.83)	15.56

Be your own money manager

Our tools can tell you how much better you can do entering a position in Elitegroup Computer 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.

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