Array Correlations

3664 Stock

TWD 18.00 0.30 1.69%

The current 90-days correlation between Array Inc and Kuen Chaang Uppertech is 0.15 (i.e., Average diversification). The correlation of Array 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.

Array Correlation With Market

Average diversification

The correlation between Array Inc and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Array Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Array Stock

0.71

2882A

Cathay Financial Holding

Pair Corr

Moving against Array Stock

0.88	910322	Tingyi Holding Corp	Pair Corr
0.75	9904	Pou Chen Corp	Pair Corr
0.71	3711	ASE Industrial Holding	Pair Corr
0.31	2882	Cathay Financial Holding	Pair Corr
0.86	2451	Transcend Information	Pair Corr
0.7	1434	Formosa Taffeta	Pair Corr
0.68	2327	Yageo Corp	Pair Corr
0.61	6624	Ever Clear Environme	Pair Corr
0.58	2008	Kao Hsiung Chang	Pair Corr
0.58	1326	Formosa Chemicals Fibre	Pair Corr
0.5	4706	Tah Kong Chemical	Pair Corr
0.38	8390	Jiin Yeeh Ding	Pair Corr
0.38	2891	CTBC Financial Holding	Pair Corr
0.31	3037	Unimicron Technology Corp	Pair Corr
0.84	6505	Formosa Petrochemical	Pair Corr
0.79	2360	Chroma ATE	Pair Corr
0.78	3666	Optivision Technology	Pair Corr
0.75	2891B	CTBC Financial Holding	Pair Corr

Related Correlations Analysis

	6674	6152	6265	3128	3419	8034	6270	5262	6874
6674		-0.26	-0.39	0.38	0.28	-0.42	0.07	-0.08	0.1	6674
6152	-0.26		0.49	0.28	0.06	0.27	0.04	0.31	-0.66	6152
6265	-0.39	0.49		-0.27	-0.59	0.53	0.19	0.76	-0.24	6265
3128	0.38	0.28	-0.27		0.76	-0.48	0.26	-0.01	-0.47	3128
3419	0.28	0.06	-0.59	0.76		-0.66	0.18	-0.41	-0.39	3419
8034	-0.42	0.27	0.53	-0.48	-0.66		0.19	0.2	-0.03	8034
6270	0.07	0.04	0.19	0.26	0.18	0.19		0.11	-0.08	6270
5262	-0.08	0.31	0.76	-0.01	-0.41	0.2	0.11		-0.15	5262
6874	0.1	-0.66	-0.24	-0.47	-0.39	-0.03	-0.08	-0.15		6874
	6674	6152	6265	3128	3419	8034	6270	5262	6874

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

5262	+ 0.76	6265
3419	+ 0.76	3128
8034	+ 0.53	6265
6265	+ 0.49	6152
3128	+ 0.38	6674
5262	+ 0.31	6152

High negative correlations

8034	- 0.66	3419
6874	- 0.66	6152
3419	- 0.59	6265
8034	- 0.48	3128
6874	- 0.47	3128
8034	- 0.42	6674

Risk-Adjusted Indicators

There is a big difference between Array Stock performing well and Array 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 Array'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
6674	1.24	(0.03)	0.00	(0.10)	0.00	0.00	1.95	(2.35)	17.99
6152	2.18	0.21	0.07	1.72	2.11	(2.73)	6.42	(3.70)	15.05
6265	4.53	1.71	0.42	3.01	3.09	(5.91)	9.94	(5.30)	19.91
3128	1.29	(0.09)	0.00	(0.06)	0.00	0.00	3.08	(2.50)	7.08
3419	0.95	(0.15)	0.00	(0.54)	0.00	0.00	1.54	(2.52)	12.15
8034	2.89	0.07	0.01	0.23	3.41	(3.63)	7.21	(6.55)	19.87
6270	0.84	0.00	(0.03)	0.04	0.97	(1.12)	1.41	(1.39)	5.63
5262	2.59	0.43	0.18	0.80	2.01	(3.75)	6.67	(3.76)	25.20
6874	0.86	(0.04)	0.00	(3.80)	0.00	0.00	1.73	(1.88)	6.75

Be your own money manager

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