ReaLy Development Correlations

2596 Stock

TWD 40.75 0.15 0.37%

The current 90-days correlation between ReaLy Development and Shieh Yih Machinery is -0.01 (i.e., Good diversification). The correlation of ReaLy Development 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.

ReaLy Development Correlation With Market

Good diversification

The correlation between ReaLy Development Construction and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ReaLy Development Construction and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ReaLy Stock

0.73	3008	LARGAN Precision	Pair Corr
0.79	2882B	Cathay Financial Holding	Pair Corr
0.85	2881A	Fubon Financial Holding	Pair Corr

Moving against ReaLy Stock

0.9	6763	Green World Fintech	Pair Corr
0.87	2474	Catcher Technology	Pair Corr
0.86	1808	Run Long Construction	Pair Corr
0.85	5508	Yungshin Construction	Pair Corr
0.78	0051	YuantaP shares Taiwan	Pair Corr
0.71	9940	Sinyi Realty	Pair Corr
0.58	2524	Kings Town Construction	Pair Corr
0.56	2923	Sino Horizon Holdings	Pair Corr
0.34	5534	Chong Hong Construction	Pair Corr
0.34	6414	Ennoconn Corp	Pair Corr

Related Correlations Analysis

	4533	2505	2530	5514	2542	1539	5516	1540	2545
4533		0.19	0.26	0.53	-0.22	0.72	-0.7	0.91	-0.18	4533
2505	0.19		0.54	-0.06	0.53	-0.05	0.13	0.23	0.53	2505
2530	0.26	0.54		0.31	0.52	0.33	-0.42	0.38	0.8	2530
5514	0.53	-0.06	0.31		-0.34	0.88	-0.7	0.72	-0.03	5514
2542	-0.22	0.53	0.52	-0.34		-0.35	0.18	-0.17	0.74	2542
1539	0.72	-0.05	0.33	0.88	-0.35		-0.85	0.85	-0.1	1539
5516	-0.7	0.13	-0.42	-0.7	0.18	-0.85		-0.78	-0.06	5516
1540	0.91	0.23	0.38	0.72	-0.17	0.85	-0.78		-0.07	1540
2545	-0.18	0.53	0.8	-0.03	0.74	-0.1	-0.06	-0.07		2545
	4533	2505	2530	5514	2542	1539	5516	1540	2545

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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

1540	+ 0.91	4533
1539	+ 0.88	5514
1540	+ 0.85	1539
2545	+ 0.8	2530
2545	+ 0.74	2542
1539	+ 0.72	4533

High negative correlations

5516	- 0.85	1539
1540	- 0.78	5516
5516	- 0.7	5514
5516	- 0.7	4533
5516	- 0.42	2530
1539	- 0.35	2542

Risk-Adjusted Indicators

There is a big difference between ReaLy Stock performing well and ReaLy Development 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 ReaLy Development'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
4533	1.71	(0.39)	0.00	2.38	0.00	0.00	2.99	(3.92)	13.37
2505	1.14	(0.09)	0.00	0.95	0.00	0.00	1.87	(3.03)	8.67
2530	1.01	0.03	(0.03)	(0.25)	1.30	(1.27)	2.73	(2.54)	9.74
5514	0.75	(0.15)	0.00	(0.68)	0.00	0.00	1.48	(2.09)	5.35
2542	1.26	0.03	(0.03)	(0.11)	1.52	(1.46)	3.45	(2.28)	9.06
1539	1.41	(0.44)	0.00	(5.61)	0.00	0.00	2.40	(3.70)	8.29
5516	1.22	0.15	0.04	92.43	1.54	(1.54)	3.17	(2.92)	8.96
1540	1.78	(0.52)	0.00	1.61	0.00	0.00	4.25	(3.54)	14.07
2545	1.66	0.09	0.00	(0.38)	2.23	(1.91)	4.78	(3.42)	17.47

ReaLy Development Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ReaLy Development stock to make a market-neutral strategy. Peer analysis of ReaLy Development could also be used in its relative valuation, which is a method of valuing ReaLy Development by comparing valuation metrics with similar companies.

Shieh Yih Machinery Kuo Yang Construction Delpha Construction Co Sunfon Construction Co Highwealth Construction Corp Chiu Ting Machinery Sun Sea Construction Roundtop Machinery Industries Huang Hsiang Construction American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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