Mospec Semiconductor Correlations
| 2434 Stock | TWD 32.20 0.50 1.58% |
The current 90-days correlation between Mospec Semiconductor Corp and Sitronix Technology Corp is -0.03 (i.e., Good diversification). The correlation of Mospec Semiconductor 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.
Mospec Semiconductor Correlation With Market
Significant diversification
The correlation between Mospec Semiconductor Corp and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mospec Semiconductor Corp and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Mospec Semiconductor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mospec Semiconductor 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 Mospec Semiconductor - 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 Mospec Semiconductor Corp to buy it.
Related Correlations Analysis
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