Merry Electronics Correlations

2439 Stock

TWD 109.00 1.50 1.36%

The current 90-days correlation between Merry Electronics and Taiwan Cooperative Financial is -0.09 (i.e., Good diversification). The correlation of Merry Electronics 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.

Merry Electronics Correlation With Market

Good diversification

The correlation between Merry Electronics Co and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Merry Electronics Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Merry Stock

0.9	4174	OBI Pharma	Pair Corr
0.88	5514	Sunfon Construction	Pair Corr
0.84	4192	SynCore Biotechnology	Pair Corr
0.82	6186	Shin Ruenn Development Split	Pair Corr
0.87	6620	Handa Pharmaceuticals	Pair Corr
0.75	6461	Intech Biopharm	Pair Corr

Moving against Merry Stock

0.79	0057	Fubon MSCI Taiwan	Pair Corr
0.77	0050	YuantaP shares Taiwan	Pair Corr
0.75	1235	Shin Tai Industry Split	Pair Corr
0.74	0053	YuantaP shares Taiwan	Pair Corr

Related Correlations Analysis

	1236	2882B	2357	5880	8104	2851	6470	6674
1236		-0.48	-0.53	0.7	-0.24	0.38	0.17	-0.33	1236
2882B	-0.48		0.79	-0.56	0.57	0.21	0.18	0.35	2882B
2357	-0.53	0.79		-0.47	0.56	-0.13	0.19	0.43	2357
5880	0.7	-0.56	-0.47		-0.32	0.23	0.35	-0.34	5880
8104	-0.24	0.57	0.56	-0.32		-0.08	-0.02	0.79	8104
2851	0.38	0.21	-0.13	0.23	-0.08		0.09	-0.27	2851
6470	0.17	0.18	0.19	0.35	-0.02	0.09		-0.24	6470
6674	-0.33	0.35	0.43	-0.34	0.79	-0.27	-0.24		6674
	1236	2882B	2357	5880	8104	2851	6470	6674

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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

2357	+ 0.79	2882B
6674	+ 0.79	8104
5880	+ 0.7	1236
8104	+ 0.57	2882B
8104	+ 0.56	2357
6674	+ 0.43	2357

High negative correlations

5880	- 0.56	2882B
2357	- 0.53	1236
2882B	- 0.48	1236
5880	- 0.47	2357
6674	- 0.34	5880
6674	- 0.33	1236

Risk-Adjusted Indicators

There is a big difference between Merry Stock performing well and Merry Electronics 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 Merry Electronics' 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
1236	0.56	(0.11)	0.00	(0.25)	0.00	0.00	1.28	(1.21)	5.22
2882B	0.19	0.05	(0.24)	(23.98)	0.00	(0.30)	0.51	(0.34)	1.74
2357	1.38	0.22	0.09	0.72	1.18	(1.73)	3.54	(2.01)	9.20
5880	0.52	(0.06)	0.00	(1.16)	0.00	0.00	1.18	(1.17)	4.29
8104	2.44	0.50	0.15	(2.83)	2.00	(3.56)	6.70	(4.46)	16.28
2851	0.85	(0.04)	0.00	(0.44)	0.00	0.00	1.68	(2.26)	7.47
6470	1.07	(0.01)	(0.07)	0.05	1.47	(1.19)	2.75	(2.44)	9.10
6674	1.77	0.38	0.10	(1.09)	1.63	(2.21)	6.50	(3.23)	13.71

Be your own money manager

Our tools can tell you how much better you can do entering a position in Merry Electronics 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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