Connection Technology Correlations
| 3672 Stock | TWD 19.50 0.00 0.00% |
The correlation of Connection 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.
Connection Technology Correlation With Market
Significant diversification
The correlation between Connection Technology Systems and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Connection Technology Systems and DJI in the same portfolio, assuming nothing else is changed.
Connection |
The ability to find closely correlated positions to Connection 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 Connection 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 Connection 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 Connection Technology Systems to buy it.
Moving together with Connection Stock
| 0.68 | 3704 | Unizyx Holding Corp | PairCorr |
| 0.75 | 4906 | Gemtek Technology | PairCorr |
| 0.82 | 5274 | Aspeed Technology | PairCorr |
| 0.62 | 3293 | International Games | PairCorr |
| 0.69 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against Connection Stock
| 0.81 | 2345 | Accton Technology Corp | PairCorr |
| 0.8 | 3008 | LARGAN Precision | PairCorr |
| 0.56 | 6285 | Wistron NeWeb Corp | PairCorr |
| 0.47 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.42 | 2498 | HTC Corp | PairCorr |
| 0.4 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.37 | 2357 | Asustek Computer | PairCorr |
| 0.32 | 3596 | Arcadyan Technology Corp | 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 Connection Stock performing well and Connection 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 Connection 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 6477 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 4130 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 5258 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 2484 | 0.94 | (0.31) | 0.00 | (4.04) | 0.00 | 1.50 | 6.86 | |||
| 4132 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 6166 | 1.81 | 0.11 | 0.01 | (22.83) | 2.04 | 3.91 | 10.32 | |||
| 8016 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 6689 | 2.68 | 0.48 | 0.13 | (1.58) | 2.32 | 9.09 | 15.79 | |||
| 4906 | 1.37 | (0.21) | 0.00 | (0.42) | 0.00 | 2.22 | 9.28 |
Connection 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 Connection Technology stock to make a market-neutral strategy. Peer analysis of Connection Technology could also be used in its relative valuation, which is a method of valuing Connection Technology by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |