Evergreen Marine Correlations
| 2603 Stock | TWD 204.50 2.50 1.24% |
The current 90-days correlation between Evergreen Marine Corp and Yang Ming Marine is 0.79 (i.e., Poor diversification). The correlation of Evergreen Marine 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.
Evergreen Marine Correlation With Market
Significant diversification
The correlation between Evergreen Marine Corp and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evergreen Marine Corp and DJI in the same portfolio, assuming nothing else is changed.
Evergreen |
The ability to find closely correlated positions to Evergreen Marine could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Evergreen Marine 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 Evergreen Marine - 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 Evergreen Marine Corp to buy it.
Moving together with Evergreen Stock
Moving against Evergreen Stock
Related Correlations Analysis
| -0.02 | 0.52 | 0.68 | -0.33 | 2609 | ||
| -0.02 | -0.73 | -0.63 | 0.82 | 2615 | ||
| 0.52 | -0.73 | 0.94 | -0.88 | 2618 | ||
| 0.68 | -0.63 | 0.94 | -0.76 | 2610 | ||
| -0.33 | 0.82 | -0.88 | -0.76 | 2002 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Evergreen Stock performing well and Evergreen Marine 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 Evergreen Marine'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2609 | 1.75 | (0.02) | (0.03) | 0.04 | 2.13 | 3.61 | 16.23 | |||
| 2615 | 1.70 | (0.27) | 0.00 | (0.23) | 0.00 | 3.24 | 15.72 | |||
| 2618 | 1.32 | 0.39 | 0.17 | (1.42) | 1.20 | 2.91 | 8.31 | |||
| 2610 | 1.19 | 0.30 | 0.13 | (0.87) | 1.05 | 2.47 | 9.93 | |||
| 2002 | 0.90 | (0.20) | 0.00 | (0.45) | 0.00 | 1.81 | 5.23 |
Evergreen Marine 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 Evergreen Marine stock to make a market-neutral strategy. Peer analysis of Evergreen Marine could also be used in its relative valuation, which is a method of valuing Evergreen Marine by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Evergreen Marine Corporate Management
Elected by the shareholders, the Evergreen Marine's board of directors comprises two types of representatives: Evergreen Marine inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Evergreen. The board's role is to monitor Evergreen Marine's management team and ensure that shareholders' interests are well served. Evergreen Marine's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Evergreen Marine's outside directors are responsible for providing unbiased perspectives on the board's policies.
| PiSao Yang | VP Department | Profile | |
| Sheng Huang | VP Department | Profile | |
| KuangHui Wu | Deputy General Manager-Finance Headquarter, Head of Finance | Profile | |
| IJung Tsai | Deputy General Manager-Finance Div. | Profile | |
| YuChi Wu | Deputy Dept | Profile | |
| TengHuan Su | Ex Department | Profile |