Adata Technology Correlations

3260 Stock

TWD 77.00 0.20 0.26%

The current 90-days correlation between Adata Technology and Transcend Information is 0.32 (i.e., Weak diversification). The correlation of Adata 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.

Adata Technology Correlation With Market

Significant diversification

The correlation between Adata Technology Co and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Adata Technology Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Adata 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 Adata 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 Adata 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 Adata Technology Co to buy it.

Moving together with Adata Stock

0.71	2303	United Microelectronics	Pair Corr
0.7	6415	Silergy Corp	Pair Corr
0.92	6488	GlobalWafers	Pair Corr
0.73	6770	Powerchip Semiconductor	Pair Corr
0.62	9906	Hsin Ba Ba	Pair Corr
0.88	9928	China Television	Pair Corr
0.61	5871	Chailease Holding	Pair Corr
0.85	2633	Taiwan High Speed	Pair Corr
0.92	5608	Shih Wei Navigation	Pair Corr
0.66	0051	YuantaP shares Taiwan	Pair Corr

Moving against Adata Stock

0.88	2454	MediaTek	Pair Corr
0.79	2379	Realtek Semiconductor	Pair Corr
0.69	2330	Taiwan Semiconductor	Pair Corr
0.52	0050	YuantaP shares Taiwan	Pair Corr
0.5	5347	Vanguard International Earnings Call This Week	Pair Corr
0.45	3443	Global Unichip Corp	Pair Corr
0.45	0057	Fubon MSCI Taiwan	Pair Corr
0.34	0053	YuantaP shares Taiwan	Pair Corr

Related Correlations Analysis

	2451	8299	2408	3481	6239
2451		-0.38	0.89	0.94	0.72	2451
8299	-0.38		-0.31	-0.31	-0.02	8299
2408	0.89	-0.31		0.83	0.83	2408
3481	0.94	-0.31	0.83		0.73	3481
6239	0.72	-0.02	0.83	0.73		6239
	2451	8299	2408	3481	6239

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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

3481	+ 0.94	2451
2408	+ 0.89	2451
3481	+ 0.83	2408
6239	+ 0.83	2408
6239	+ 0.73	3481
6239	+ 0.72	2451

High negative correlations

8299	- 0.38	2451
3481	- 0.31	8299
2408	- 0.31	8299
6239	- 0.02	8299

Risk-Adjusted Indicators

There is a big difference between Adata Stock performing well and Adata 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 Adata 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
2451	1.00	(0.24)	0.00	(0.67)	0.00	0.00	1.62	(2.40)	6.08
8299	1.83	0.04	(0.03)	(0.05)	2.22	(2.11)	3.92	(3.78)	11.05
2408	2.10	(0.56)	0.00	(20.66)	0.00	0.00	4.72	(4.55)	12.96
3481	1.41	(0.21)	0.00	2.39	0.00	0.00	2.94	(2.84)	10.50
6239	1.27	(0.22)	0.00	1.64	0.00	0.00	2.09	(2.85)	9.12

Adata 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 Adata Technology stock to make a market-neutral strategy. Peer analysis of Adata Technology could also be used in its relative valuation, which is a method of valuing Adata Technology by comparing valuation metrics with similar companies.

Transcend Information Phison Electronics Nanya Technology Corp Innolux Corp Powertech Technology American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

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