Data Image Correlations

Stocks . Taiwan . 
Stock . Data Image
3168 Stock   41.50  0.20  0.48%   
The current 90-days correlation between Data Image and Optimax Technology Corp is 0.12 (i.e., Average diversification). The correlation of Data Image 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.

Data Image Correlation With Market

Significant diversification

The correlation between Data Image and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Data Image and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Data Image could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Data Image 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 Data Image - 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 Data Image to buy it.

Moving against Data Stock

  0.82330 Taiwan SemiconductorPairCorr
  0.692360 Chroma ATEPairCorr
  0.626139 LK EngineeringPairCorr
  0.592887 Taishin Financial HoldingPairCorr
  0.532451 Transcend InformationPairCorr
  0.521308 Asia Polymer CorpPairCorr
  0.54105 TTY BiopharmPairCorr
  0.486127 Leatec Fine CeramicsPairCorr
  0.484706 Tah Kong ChemicalPairCorr
  0.463037 Unimicron Technology CorpPairCorr
  0.461312A Grand Pacific PetrocPairCorr
  0.451303 Nan Ya PlasticsPairCorr
  0.452008 Kao Hsiung ChangPairCorr
  0.416768 Sports GearPairCorr
  0.378390 Jiin Yeeh DingPairCorr
  0.351326 Formosa Chemicals FibrePairCorr
  0.352643 Soonest ExpressPairCorr
  0.321730 Farcent EnterprisePairCorr
  0.311587 Cryomax Cooling SystemPairCorr
  0.780057 Fubon MSCI TaiwanPairCorr
  0.760050 YuantaP shares TaiwanPairCorr
  0.736770 Powerchip SemiconductorPairCorr
  0.72327 Yageo CorpPairCorr
  0.693260 Adata TechnologyPairCorr
  0.668299 Phison ElectronicsPairCorr
  0.653372 Taiwan IC PackagingPairCorr
  0.652067 Chia Yi SteelPairCorr
  0.650053 YuantaP shares TaiwanPairCorr
  0.626515 WinWay TechnologyPairCorr

Related Correlations Analysis


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

3306
+ 0.86
3031
6742
+ 0.83
8240
6742
+ 0.8
8049
3311
+ 0.8
3306
6742
+ 0.79
3093
6742
+ 0.78
3051
  

High negative correlations

3311
- 0.26
3038
3306
- 0.19
3038

Risk-Adjusted Indicators

There is a big difference between Data Stock performing well and Data Image 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 Data Image'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
3051  1.33 (0.32) 0.00  1.11  0.00 
 0.00 
 2.47 
(2.99)
 7.97 
8240  1.50 (0.08) 0.00 (0.11) 0.00 
 0.00 
 2.58 
(2.81)
 8.48 
6205  1.97  0.51  0.24 (0.84) 1.34 
(2.77)
 9.96 
(2.63)
 14.38 
3038  1.21  0.14  0.08  0.74  1.15 
(1.68)
 2.16 
(1.96)
 12.18 
8049  0.56 (0.07) 0.00 (2.05) 0.00 
 0.00 
 1.22 
(1.20)
 4.16 
3093  0.68 (0.01) 0.00  0.30  0.00 
 0.00 
 1.56 
(1.36)
 4.33 
3031  1.45 (0.07) 0.00 (1.20) 0.00 
 0.00 
 2.73 
(3.13)
 10.95 
3306  1.76 (0.16) 0.00 (0.70) 0.00 
 0.00 
 4.37 
(4.59)
 20.00 
3311  1.30 (0.20) 0.00 (0.26) 0.00 
 0.00 
 2.73 
(2.44)
 14.24 
6742  1.45 (0.30) 0.00 (0.21) 0.00 
 0.00 
 2.69 
(2.59)
 8.23 

Data Image 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 Data Image stock to make a market-neutral strategy. Peer analysis of Data Image could also be used in its relative valuation, which is a method of valuing Data Image by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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