Userjoy Technology Correlations
| 3546 Stock | TWD 75.20 0.00 0.00% |
The current 90-days correlation between Userjoy Technology and Leatec Fine Ceramics is -0.01 (i.e., Good diversification). The correlation of Userjoy 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.
Userjoy Technology Correlation With Market
Good diversification
The correlation between Userjoy Technology Co and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Userjoy Technology Co and DJI in the same portfolio, assuming nothing else is changed.
Userjoy |
The ability to find closely correlated positions to Userjoy 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 Userjoy 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 Userjoy 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 Userjoy Technology Co to buy it.
Moving together with Userjoy Stock
| 0.63 | 4961 | Fitipower Integrated | PairCorr |
| 0.83 | 6763 | Green World Fintech | PairCorr |
| 0.76 | 6488 | GlobalWafers | PairCorr |
| 0.86 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against Userjoy Stock
| 0.51 | 6223 | MPI Corporation | PairCorr |
| 0.49 | 4968 | RichWave Technology Corp | PairCorr |
| 0.41 | 5309 | Sysgration | PairCorr |
| 0.31 | 0050 | YuantaP shares Taiwan | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Userjoy Stock performing well and Userjoy 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 Userjoy 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 6127 | 2.25 | (0.24) | 0.00 | (0.47) | 0.00 | 4.49 | 15.75 | |||
| 6697 | 1.59 | 0.12 | 0.02 | 0.68 | 2.03 | 4.31 | 17.29 | |||
| 6209 | 1.83 | 0.02 | (0.02) | 0.13 | 1.99 | 5.20 | 15.58 | |||
| 1777 | 0.64 | (0.05) | 0.00 | (5.77) | 0.00 | 1.55 | 4.98 | |||
| 00719B | 0.19 | 0.04 | (0.18) | (0.84) | 0.05 | 0.48 | 1.28 | |||
| 2497 | 1.19 | (0.40) | 0.00 | 3.72 | 0.00 | 1.90 | 13.43 | |||
| 2485 | 1.33 | (0.34) | 0.00 | (1.53) | 0.00 | 2.53 | 9.86 | |||
| 00787B | 0.41 | 0.00 | (0.17) | 0.12 | 0.56 | 0.85 | 2.26 | |||
| 00935 | 0.86 | 0.01 | (0.06) | 0.13 | 1.08 | 1.89 | 5.60 | |||
| 2412 | 0.34 | 0.01 | (0.15) | 0.24 | 0.34 | 0.82 | 2.02 |
Userjoy 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 Userjoy Technology stock to make a market-neutral strategy. Peer analysis of Userjoy Technology could also be used in its relative valuation, which is a method of valuing Userjoy Technology by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Userjoy Technology Corporate Management
Elected by the shareholders, the Userjoy Technology's board of directors comprises two types of representatives: Userjoy Technology inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Userjoy. The board's role is to monitor Userjoy Technology's management team and ensure that shareholders' interests are well served. Userjoy Technology'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, Userjoy Technology's outside directors are responsible for providing unbiased perspectives on the board's policies.