Edom Technology Correlations
| 3048 Stock | TWD 28.90 0.25 0.87% |
The current 90-days correlation between Edom Technology and Altek Corp is 0.51 (i.e., Very weak diversification). The correlation of Edom Technology 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.
Edom Technology Correlation With Market
Significant diversification
The correlation between Edom Technology Co and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edom Technology Co and DJI in the same portfolio, assuming nothing else is changed.
Edom |
The ability to find closely correlated positions to Edom Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Edom Technology 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 Edom Technology - 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 Edom Technology Co to buy it.
Moving together with Edom Stock
| 0.75 | 2923 | Sino Horizon Holdings | PairCorr |
| 0.69 | 6020 | Tachan Securities | PairCorr |
| 0.79 | 6144 | Deltamac Taiwan | PairCorr |
| 0.83 | 1235 | Shin Tai Industry | PairCorr |
| 0.96 | 2227 | Yulon Nissan Motor | PairCorr |
| 0.66 | 1725 | Yuan Jen Enterprises | PairCorr |
| 0.67 | 6579 | AAEON Technology | PairCorr |
| 0.8 | 3219 | Service Quality Tech | PairCorr |
| 0.97 | 5432 | Data International | PairCorr |
| 0.9 | 0051 | YuantaP shares Taiwan | PairCorr |
Related Correlations Analysis
| 0.43 | -0.25 | -0.03 | -0.38 | 3059 | ||
| 0.43 | -0.54 | -0.39 | -0.66 | 3041 | ||
| -0.25 | -0.54 | 0.55 | 0.87 | 3058 | ||
| -0.03 | -0.39 | 0.55 | 0.47 | 3055 | ||
| -0.38 | -0.66 | 0.87 | 0.47 | 4906 | ||
| 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
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Risk-Adjusted Indicators
There is a big difference between Edom Stock performing well and Edom Technology 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 Edom Technology'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 3059 | 1.86 | 0.14 | 0.01 | (0.49) | 1.99 | 6.68 | 15.82 | |||
| 3041 | 4.29 | 1.01 | 0.21 | (7.73) | 3.28 | 9.97 | 76.98 | |||
| 3058 | 1.46 | (0.27) | 0.00 | 1.00 | 0.00 | 2.79 | 13.39 | |||
| 3055 | 2.11 | (0.11) | 0.00 | 0.24 | 0.00 | 4.94 | 14.57 | |||
| 4906 | 1.29 | (0.19) | 0.00 | (4.36) | 0.00 | 2.11 | 9.28 |
Edom Technology 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 Edom Technology stock to make a market-neutral strategy. Peer analysis of Edom Technology could also be used in its relative valuation, which is a method of valuing Edom Technology by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Edom Technology Corporate Management
Elected by the shareholders, the Edom Technology's board of directors comprises two types of representatives: Edom Technology inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Edom. The board's role is to monitor Edom Technology's management team and ensure that shareholders' interests are well served. Edom Technology'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, Edom Technology's outside directors are responsible for providing unbiased perspectives on the board's policies.
| FeiHung Lin | Pres VC | Profile | |
| ChingChi Hou | GM, CEO | Profile | |
| Pei Wang | Deputy Centre | Profile | |
| HsienYung Chien | Chief Fin | Profile |