ZongTai Real Correlations

3056 Stock

TWD 34.35 0.25 0.73%

The current 90-days correlation between ZongTai Real Estate and Universal Microelectronics Co is 0.11 (i.e., Average diversification). The correlation of ZongTai Real 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.

ZongTai Real Correlation With Market

Average diversification

The correlation between ZongTai Real Estate and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ZongTai Real Estate and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ZongTai Stock

0.8	3008	LARGAN Precision	Pair Corr
0.73	2379	Realtek Semiconductor	Pair Corr

Moving against ZongTai Stock

0.82	3293	International Games	Pair Corr
0.68	0057	Fubon MSCI Taiwan	Pair Corr
0.66	0053	YuantaP shares Taiwan	Pair Corr
0.64	2357	Asustek Computer	Pair Corr
0.6	0050	YuantaP shares Taiwan	Pair Corr
0.49	6732	Sensortek Technology Corp	Pair Corr
0.38	2603	Evergreen Marine Corp	Pair Corr

Related Correlations Analysis

	2413	4126	3236	6569	8171	3628	4108	8111
2413		0.25	0.86	-0.68	0.61	0.16	-0.71	0.41	2413
4126	0.25		0.51	-0.59	0.42	0.02	-0.37	0.4	4126
3236	0.86	0.51		-0.79	0.66	0.21	-0.74	0.64	3236
6569	-0.68	-0.59	-0.79		-0.55	-0.17	0.88	-0.62	6569
8171	0.61	0.42	0.66	-0.55		0.02	-0.41	0.6	8171
3628	0.16	0.02	0.21	-0.17	0.02		-0.46	-0.2	3628
4108	-0.71	-0.37	-0.74	0.88	-0.41	-0.46		-0.36	4108
8111	0.41	0.4	0.64	-0.62	0.6	-0.2	-0.36		8111
	2413	4126	3236	6569	8171	3628	4108	8111

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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

4108	+ 0.88	6569
3236	+ 0.86	2413
8171	+ 0.66	3236
8111	+ 0.64	3236
8171	+ 0.61	2413
8111	+ 0.6	8171

High negative correlations

6569	- 0.79	3236
4108	- 0.74	3236
4108	- 0.71	2413
6569	- 0.68	2413
8111	- 0.62	6569
6569	- 0.59	4126

Risk-Adjusted Indicators

There is a big difference between ZongTai Stock performing well and ZongTai Real 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 ZongTai Real'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
2413	2.09	0.52	0.14	(6.61)	1.95	(2.78)	9.92	(3.25)	16.63
4126	0.40	0.04	(0.14)	(0.35)	0.45	(0.52)	1.13	(0.89)	3.40
3236	0.90	0.20	0.07	3.75	0.86	(1.20)	2.27	(1.51)	9.39
6569	1.14	(0.41)	0.00	(0.86)	0.00	0.00	1.52	(2.82)	5.89
8171	1.83	0.34	0.19	0.39	1.40	(2.52)	3.71	(3.00)	15.59
3628	0.78	0.18	0.07	(3.81)	0.47	(1.35)	1.12	(1.22)	9.99
4108	0.72	(0.21)	0.00	(0.48)	0.00	0.00	1.68	(2.33)	6.49
8111	3.65	1.01	0.22	(1.01)	2.94	(4.76)	9.93	(4.97)	16.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in ZongTai Real 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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