ASRock Correlations

3515 Stock

TWD 230.00 1.00 0.44%

The current 90-days correlation between ASRock Inc and Kinsus Interconnect Technology is 0.41 (i.e., Very weak diversification). The correlation of ASRock 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.

ASRock Correlation With Market

Good diversification

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

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

Moving against ASRock Stock

0.61	5432	Data International	Pair Corr
0.58	2227	Yulon Nissan Motor	Pair Corr
0.56	6144	Deltamac Taiwan	Pair Corr
0.43	1235	Shin Tai Industry	Pair Corr
0.42	0051	YuantaP shares Taiwan	Pair Corr
0.38	3219	Service Quality Tech	Pair Corr
0.36	6020	Tachan Securities	Pair Corr

Related Correlations Analysis

	3037	3189	3034	2308	2379
3037		0.52	0.03	-0.59	-0.73	3037
3189	0.52		0.66	0.14	-0.18	3189
3034	0.03	0.66		0.4	0.13	3034
2308	-0.59	0.14	0.4		0.86	2308
2379	-0.73	-0.18	0.13	0.86		2379
	3037	3189	3034	2308	2379

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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

2379	+ 0.86	2308
3034	+ 0.66	3189
3189	+ 0.52	3037
2308	+ 0.4	3034
2308	+ 0.14	3189
2379	+ 0.13	3034

High negative correlations

2379	- 0.73	3037
2308	- 0.59	3037
2379	- 0.18	3189

Risk-Adjusted Indicators

There is a big difference between ASRock Stock performing well and ASRock 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 ASRock'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
3037	1.53	(0.23)	0.00	3.23	0.00	0.00	2.91	(3.58)	11.69
3189	1.88	(0.18)	0.00	0.46	0.00	0.00	4.93	(4.07)	16.12
3034	1.05	(0.01)	(0.07)	(0.03)	1.30	(1.09)	2.50	(2.14)	5.34
2308	1.34	0.17	0.02	(0.26)	1.56	(1.43)	3.23	(2.45)	8.17
2379	1.20	0.17	0.06	1.37	1.45	(1.26)	2.40	(2.04)	7.72

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

Unimicron Technology Corp Kinsus Interconnect Technology Novatek Microelectronics Corp Delta Electronics Realtek Semiconductor Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

Risk & Return

Correlation

ASRock Corporate Management

Elected by the shareholders, the ASRock's board of directors comprises two types of representatives: ASRock inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ASRock. The board's role is to monitor ASRock's management team and ensure that shareholders' interests are well served. ASRock's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, ASRock's outside directors are responsible for providing unbiased perspectives on the board's policies.

Chen YuHuang	VP	Profile
Li HuiJu	Accounting Mang	Profile
Hsu LungLun	Pres Director	Profile
ChienHsin Chou	Chief Officer	Profile
Chen ChienHung	VP CFO	Profile
Chen SungChien	VP	Profile

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