Asia Optical Correlations

3019 Stock  TWD 155.00  6.00  3.73%   
The current 90-days correlation between Asia Optical and LARGAN Precision Co is 0.32 (i.e., Weak diversification). The correlation of Asia Optical 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.

Asia Optical Correlation With Market

Good diversification

The correlation between Asia Optical Co and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asia Optical Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Asia Optical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Asia Optical 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 Asia Optical - 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 Asia Optical Co to buy it.

Moving together with Asia Stock

  0.772618 Eva Airways CorpPairCorr
  0.842345 Accton Technology CorpPairCorr
  0.711536 Hota Industrial MfgPairCorr
  0.672330 Taiwan SemiconductorPairCorr
  0.842454 MediaTekPairCorr
  0.92891B CTBC Financial HoldingPairCorr
  0.692610 China AirlinesPairCorr
  0.735530 Lungyen Life ServicePairCorr
  0.692881B Fubon Financial HoldingPairCorr
  0.843008 LARGAN PrecisionPairCorr

Moving against Asia Stock

  0.84768 IngentecPairCorr
  0.726763 Green World FintechPairCorr
  0.624558 ALFORMER IndustrialPairCorr
  0.610051 YuantaP shares TaiwanPairCorr
  0.582072 Century Wind PowerPairCorr
  0.342354 Foxconn TechnologyPairCorr

Related Correlations Analysis

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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   
34063008
24743034
30372474
34063034
30343008
  
High negative correlations   
30373008
24743008
30373406
24743406
30373034

Risk-Adjusted Indicators

There is a big difference between Asia Stock performing well and Asia Optical 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 Asia Optical'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Asia Optical 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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Asia Optical Corporate Management

Elected by the shareholders, the Asia Optical's board of directors comprises two types of representatives: Asia Optical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Asia. The board's role is to monitor Asia Optical's management team and ensure that shareholders' interests are well served. Asia Optical'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, Asia Optical's outside directors are responsible for providing unbiased perspectives on the board's policies.
Pony ChangVP InvestorsProfile
ShihChung ChangCFO GMProfile
Wenke WengAccounting SupervisorProfile
YiJen LaiChairman DepartmentProfile