Leadtek Research Correlations
| 2465 Stock | TWD 69.50 2.50 3.47% |
The current 90-days correlation between Leadtek Research and Elan Microelectronics Corp is 0.33 (i.e., Weak diversification). The correlation of Leadtek Research 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.
Leadtek Research Correlation With Market
Average diversification
The correlation between Leadtek Research and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leadtek Research and DJI in the same portfolio, assuming nothing else is changed.
Leadtek |
The ability to find closely correlated positions to Leadtek Research could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Leadtek Research 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 Leadtek Research - 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 Leadtek Research to buy it.
Moving against Leadtek Stock
| 0.72 | 2891 | CTBC Financial Holding | PairCorr |
| 0.63 | 2883 | China Development | PairCorr |
| 0.57 | 2317 | Hon Hai Precision | PairCorr |
| 0.53 | 2885 | Yuanta Financial Holdings | PairCorr |
| 0.53 | 2382 | Quanta Computer | PairCorr |
| 0.49 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.48 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.45 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.34 | 0053 | YuantaP shares Taiwan | PairCorr |
Related Correlations Analysis
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