Shinkong Insurance Correlations
| 2850 Stock | TWD 104.00 1.00 0.97% |
The current 90-days correlation between Shinkong Insurance and Central Reinsurance Corp is 0.39 (i.e., Weak diversification). The correlation of Shinkong Insurance 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.
Shinkong Insurance Correlation With Market
Average diversification
The correlation between Shinkong Insurance Co and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shinkong Insurance Co and DJI in the same portfolio, assuming nothing else is changed.
Shinkong |
The ability to find closely correlated positions to Shinkong Insurance could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shinkong Insurance 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 Shinkong Insurance - 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 Shinkong Insurance Co to buy it.
Moving against Shinkong Stock
| 0.81 | 4109 | Jia Jie Biomedical | PairCorr |
| 0.71 | 2438 | Enlight Corp | PairCorr |
| 0.55 | 910322 | Tingyi Holding Corp | PairCorr |
| 0.52 | 911868 | Neo Neon Holdings | PairCorr |
| 0.51 | 0051 | YuantaP shares Taiwan | PairCorr |
| 0.4 | 1734 | Sinphar Pharmaceutical | PairCorr |
| 0.32 | 2913 | Taiwan Tea Corp | PairCorr |
| 0.31 | 1446 | Hong Ho Precision | PairCorr |
Related Correlations Analysis
| 0.27 | 0.29 | 0.79 | -0.55 | 2851 | ||
| 0.27 | -0.03 | 0.28 | -0.32 | 2548 | ||
| 0.29 | -0.03 | 0.24 | 0.14 | 2881 | ||
| 0.79 | 0.28 | 0.24 | -0.85 | 5871 | ||
| -0.55 | -0.32 | 0.14 | -0.85 | 2891 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between Shinkong Stock performing well and Shinkong Insurance 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 Shinkong Insurance'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2851 | 0.55 | (0.11) | 0.00 | (1.33) | 0.00 | 1.18 | 4.22 | |||
| 2548 | 1.55 | (0.17) | 0.00 | (0.78) | 0.00 | 2.88 | 11.56 | |||
| 2881 | 0.78 | 0.01 | 0.00 | 0.05 | 0.00 | 1.78 | 3.83 | |||
| 5871 | 1.38 | (0.45) | 0.00 | (27.99) | 0.00 | 2.48 | 11.36 | |||
| 2891 | 0.69 | 0.11 | 0.01 | (0.48) | 0.64 | 2.08 | 5.54 |
Shinkong Insurance 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 Shinkong Insurance stock to make a market-neutral strategy. Peer analysis of Shinkong Insurance could also be used in its relative valuation, which is a method of valuing Shinkong Insurance by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Shinkong Insurance Corporate Management
Elected by the shareholders, the Shinkong Insurance's board of directors comprises two types of representatives: Shinkong Insurance inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shinkong. The board's role is to monitor Shinkong Insurance's management team and ensure that shareholders' interests are well served. Shinkong Insurance'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, Shinkong Insurance's outside directors are responsible for providing unbiased perspectives on the board's policies.
| KunYi Tu | VP | Profile | |
| YingLan Ho | Pres Director | Profile | |
| Tseng YaFang | CFO Department | Profile | |
| PoHsuan Wang | VP | Profile | |
| JuiYu Wang | Ma Department | Profile | |
| PaoKuei Chang | Assistant Department | Profile | |
| ChihYuan Huang | VP | Profile |