SS Healthcare Correlations

4198 Stock

TWD 32.15 2.65 7.61%

The current 90-days correlation between SS Healthcare Holding and StShine Optical Co is 0.19 (i.e., Average diversification). The correlation of SS Healthcare 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.

SS Healthcare Correlation With Market

Good diversification

The correlation between SS Healthcare Holding 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 SS Healthcare Holding and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against 4198 Stock

0.49	4126	Pacific Hospital Supply	Pair Corr
0.32	6762	Delta Asia International	Pair Corr
0.31	0057	Fubon MSCI Taiwan	Pair Corr

Related Correlations Analysis

	1565	4105	1733	9945	6438	9933	6697	1777	9921	6414
1565		-0.42	-0.52	-0.24	0.94	-0.94	0.56	0.49	-0.93	0.83	1565
4105	-0.42		0.61	0.64	-0.38	0.45	-0.09	-0.14	0.54	-0.11	4105
1733	-0.52	0.61		0.72	-0.48	0.64	-0.25	-0.04	0.66	-0.42	1733
9945	-0.24	0.64	0.72		-0.26	0.39	-0.18	0.2	0.43	-0.13	9945
6438	0.94	-0.38	-0.48	-0.26		-0.91	0.57	0.43	-0.93	0.84	6438
9933	-0.94	0.45	0.64	0.39	-0.91		-0.62	-0.35	0.95	-0.84	9933
6697	0.56	-0.09	-0.25	-0.18	0.57	-0.62		0.01	-0.54	0.53	6697
1777	0.49	-0.14	-0.04	0.2	0.43	-0.35	0.01		-0.34	0.33	1777
9921	-0.93	0.54	0.66	0.43	-0.93	0.95	-0.54	-0.34		-0.81	9921
6414	0.83	-0.11	-0.42	-0.13	0.84	-0.84	0.53	0.33	-0.81		6414
	1565	4105	1733	9945	6438	9933	6697	1777	9921	6414

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

9921	+ 0.95	9933
6438	+ 0.94	1565
6414	+ 0.84	6438
6414	+ 0.83	1565
9945	+ 0.72	1733
9921	+ 0.66	1733

High negative correlations

9933	- 0.94	1565
9921	- 0.93	6438
9921	- 0.93	1565
9933	- 0.91	6438
6414	- 0.84	9933
6414	- 0.81	9921

Risk-Adjusted Indicators

There is a big difference between 4198 Stock performing well and SS Healthcare 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 SS Healthcare'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
1565	1.41	0.48	0.18	(1.39)	1.05	(1.87)	5.16	(2.52)	12.43
4105	0.31	(0.02)	(0.23)	(0.08)	0.42	(0.43)	0.81	(0.68)	2.55
1733	0.71	(0.09)	0.00	(0.51)	0.00	0.00	1.70	(1.38)	5.96
9945	1.03	(0.05)	0.00	(1.97)	0.00	0.00	1.89	(2.13)	7.35
6438	2.61	0.97	0.36	1.15	1.73	(3.45)	9.79	(2.88)	17.42
9933	0.73	(0.23)	0.00	1.18	0.00	0.00	1.66	(1.67)	5.01
6697	1.27	0.12	(0.01)	(0.68)	1.59	(1.67)	2.33	(2.68)	15.29
1777	0.64	0.07	(0.05)	0.98	0.75	(0.74)	2.04	(1.36)	5.20
9921	1.62	(0.66)	0.00	3.93	0.00	0.00	1.72	(5.13)	14.43
6414	1.02	0.06	(0.01)	0.33	1.23	(1.23)	2.40	(2.18)	6.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in SS Healthcare 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.

Did you try this?

Run Content Syndication Now

Content Syndication

Quickly integrate customizable finance content to your own investment portal

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC