Apex Science Correlations

3052 Stock

TWD 11.90 0.15 1.24%

The current 90-days correlation between Apex Science Engineering and Tech Top Engineering LTD is 0.05 (i.e., Significant diversification). The correlation of Apex Science 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.

Apex Science Correlation With Market

Average diversification

The correlation between Apex Science Engineering and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apex Science Engineering and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Apex Stock

0.8	2891	CTBC Financial Holding	Pair Corr
0.68	2883	China Development	Pair Corr

Moving against Apex Stock

0.52	2317	Hon Hai Precision	Pair Corr
0.42	2882A	Cathay Financial Holding	Pair Corr
0.32	2882B	Cathay Financial Holding	Pair Corr

Related Correlations Analysis

	6750	7590	4523	4560	6556	3284	7583	6904	3580
6750		-0.27	0.51	-0.74	-0.24	0.51	0.79	0.82	-0.58	6750
7590	-0.27		-0.24	0.42	-0.05	-0.45	-0.33	-0.42	0.41	7590
4523	0.51	-0.24		-0.49	0.15	0.06	0.62	0.53	-0.27	4523
4560	-0.74	0.42	-0.49		0.15	-0.21	-0.69	-0.64	0.35	4560
6556	-0.24	-0.05	0.15	0.15		-0.28	-0.19	-0.18	0.47	6556
3284	0.51	-0.45	0.06	-0.21	-0.28		0.51	0.63	-0.53	3284
7583	0.79	-0.33	0.62	-0.69	-0.19	0.51		0.88	-0.41	7583
6904	0.82	-0.42	0.53	-0.64	-0.18	0.63	0.88		-0.51	6904
3580	-0.58	0.41	-0.27	0.35	0.47	-0.53	-0.41	-0.51		3580
	6750	7590	4523	4560	6556	3284	7583	6904	3580

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

6904	+ 0.88	7583
6904	+ 0.82	6750
7583	+ 0.79	6750
6904	+ 0.63	3284
7583	+ 0.62	4523
6904	+ 0.53	4523

High negative correlations

4560	- 0.74	6750
7583	- 0.69	4560
6904	- 0.64	4560
3580	- 0.58	6750
3580	- 0.53	3284
3580	- 0.51	6904

Risk-Adjusted Indicators

There is a big difference between Apex Stock performing well and Apex Science 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 Apex Science'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
6750	1.44	0.49	0.25	(22.83)	0.80	(1.86)	5.42	(2.76)	8.49
7590	1.30	0.02	(0.04)	0.34	1.48	(1.63)	2.69	(2.29)	10.25
4523	1.99	(0.25)	0.00	(0.87)	0.00	0.00	4.33	(4.98)	18.20
4560	0.65	0.04	(0.04)	0.30	0.81	(0.79)	1.38	(1.07)	6.37
6556	0.64	(0.04)	0.00	(0.21)	0.00	0.00	1.16	(1.13)	9.37
3284	1.34	(0.13)	0.00	(0.10)	0.00	0.00	3.10	(2.52)	13.80
7583	0.85	(0.14)	0.00	5.05	0.00	0.00	2.14	(2.76)	7.20
6904	0.57	(0.09)	0.00	(1.02)	0.00	0.00	0.88	(2.00)	4.23
3580	1.81	0.25	0.08	0.98	1.92	(1.95)	4.14	(3.55)	12.96

Be your own money manager

Our tools can tell you how much better you can do entering a position in Apex Science 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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