Partner Tech Correlations

3097 Stock

TWD 23.25 0.15 0.65%

The current 90-days correlation between Partner Tech Corp and Koryo Electronics Co is -0.16 (i.e., Good diversification). The correlation of Partner Tech 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.

Partner Tech Correlation With Market

Average diversification

The correlation between Partner Tech Corp 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 Partner Tech Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Partner Stock

0.57	3211	Dynapack International	Pair Corr
0.51	0050	YuantaP shares Taiwan	Pair Corr
0.49	0057	Fubon MSCI Taiwan	Pair Corr
0.47	6015	Horizon Securities	Pair Corr
0.45	2603	Evergreen Marine Corp	Pair Corr
0.45	0053	YuantaP shares Taiwan	Pair Corr
0.4	8467	Bonny Worldwide	Pair Corr
0.35	0051	YuantaP shares Taiwan	Pair Corr
0.32	2409	AU Optronics	Pair Corr

Related Correlations Analysis

	2432	8032	3521	3652	6590	4987	6570	3021	6680	5353
2432		0.55	-0.76	0.31	0.6	-0.59	0.7	-0.18	0.75	-0.35	2432
8032	0.55		-0.33	0.28	0.31	0.02	0.79	0.37	0.12	0.35	8032
3521	-0.76	-0.33		-0.19	-0.23	0.4	-0.59	0.18	-0.61	0.19	3521
3652	0.31	0.28	-0.19		0.01	-0.15	0.48	0.06	0.32	-0.13	3652
6590	0.6	0.31	-0.23	0.01		-0.54	0.27	-0.06	0.25	-0.21	6590
4987	-0.59	0.02	0.4	-0.15	-0.54		-0.07	0.72	-0.55	0.54	4987
6570	0.7	0.79	-0.59	0.48	0.27	-0.07		0.31	0.29	0.19	6570
3021	-0.18	0.37	0.18	0.06	-0.06	0.72	0.31		-0.45	0.55	3021
6680	0.75	0.12	-0.61	0.32	0.25	-0.55	0.29	-0.45		-0.7	6680
5353	-0.35	0.35	0.19	-0.13	-0.21	0.54	0.19	0.55	-0.7		5353
	2432	8032	3521	3652	6590	4987	6570	3021	6680	5353

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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

6570	+ 0.79	8032
6680	+ 0.75	2432
3021	+ 0.72	4987
6570	+ 0.7	2432
6590	+ 0.6	2432
8032	+ 0.55	2432

High negative correlations

3521	- 0.76	2432
5353	- 0.7	6680
6680	- 0.61	3521
6570	- 0.59	3521
4987	- 0.59	2432
6680	- 0.55	4987

Risk-Adjusted Indicators

There is a big difference between Partner Stock performing well and Partner Tech 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 Partner Tech'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
2432	0.77	(0.20)	0.00	(0.51)	0.00	0.00	1.33	(1.96)	4.89
8032	1.63	(0.27)	0.00	(0.24)	0.00	0.00	2.86	(3.49)	14.84
3521	2.34	0.28	0.11	0.51	1.94	(3.58)	8.88	(3.19)	15.22
3652	0.78	(0.09)	0.00	(0.24)	0.00	0.00	1.21	(1.78)	9.15
6590	0.71	(0.02)	0.00	(0.68)	0.00	0.00	1.46	(1.63)	7.11
4987	0.69	0.20	0.09	15.38	0.56	(0.87)	1.44	(1.16)	9.39
6570	0.81	(0.18)	0.00	(0.67)	0.00	0.00	1.87	(2.20)	5.56
3021	1.12	0.08	(0.01)	0.73	1.20	(1.47)	3.78	(2.22)	9.02
6680	1.49	(0.23)	0.00	(0.27)	0.00	0.00	3.36	(3.86)	15.97
5353	0.98	0.04	(0.06)	1.94	0.97	(1.46)	2.90	(1.72)	12.73

Be your own money manager

Our tools can tell you how much better you can do entering a position in Partner Tech 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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