Shih Kuen Correlations

4305 Stock

TWD 43.10 0.05 0.12%

The current 90-days correlation between Shih Kuen Plastics and ANJI Technology Co is 0.19 (i.e., Average diversification). The correlation of Shih Kuen 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.

Shih Kuen Correlation With Market

Average diversification

The correlation between Shih Kuen Plastics 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 Shih Kuen Plastics and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shih Stock

0.83	1304	USI Corp	Pair Corr
0.69	1308	Asia Polymer Corp	Pair Corr
0.67	9942	Nak Sealing Technologies	Pair Corr
0.63	2102	Federal Corp	Pair Corr
0.79	4306	Yem Chio	Pair Corr
0.76	1321	Ocean Plastics	Pair Corr
0.77	2317	Hon Hai Precision	Pair Corr
0.89	6505	Formosa Petrochemical	Pair Corr
0.86	2303	United Microelectronics Earnings Call This Week	Pair Corr
0.76	1303	Nan Ya Plastics	Pair Corr
0.81	1301	Formosa Plastics Corp	Pair Corr
0.84	0051	YuantaP shares Taiwan	Pair Corr

Moving against Shih Stock

0.76	2105	Cheng Shin Rubber	Pair Corr
0.57	2412	Chunghwa Telecom	Pair Corr
0.53	2454	MediaTek	Pair Corr
0.4	2308	Delta Electronics	Pair Corr
0.91	2610	China Airlines	Pair Corr
0.89	2618	Eva Airways Corp	Pair Corr
0.88	5530	Lungyen Life Service	Pair Corr
0.87	2345	Accton Technology Corp	Pair Corr
0.85	3494	HiTi Digital Split	Pair Corr
0.83	3323	Celxpert Energy	Pair Corr
0.79	2609	Yang Ming Marine	Pair Corr
0.68	1536	Hota Industrial Mfg	Pair Corr
0.67	3008	LARGAN Precision	Pair Corr
0.6	2891B	CTBC Financial Holding	Pair Corr
0.37	2881B	Fubon Financial Holding	Pair Corr
0.36	6214	Systex Corp	Pair Corr

Related Correlations Analysis

	6477	2329	6121	6202	6412	5425	1708
6477		-0.06	0.04	0.28	0.61	-0.2	-0.37	6477
2329	-0.06		-0.59	0.79	0.32	0.82	0.36	2329
6121	0.04	-0.59		-0.61	-0.01	-0.67	-0.36	6121
6202	0.28	0.79	-0.61		0.46	0.74	0.41	6202
6412	0.61	0.32	-0.01	0.46		0.21	-0.11	6412
5425	-0.2	0.82	-0.67	0.74	0.21		0.69	5425
1708	-0.37	0.36	-0.36	0.41	-0.11	0.69		1708
	6477	2329	6121	6202	6412	5425	1708

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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

5425	+ 0.82	2329
6202	+ 0.79	2329
5425	+ 0.74	6202
1708	+ 0.69	5425
6412	+ 0.61	6477
6412	+ 0.46	6202

High negative correlations

5425	- 0.67	6121
6202	- 0.61	6121
6121	- 0.59	2329
1708	- 0.37	6477
1708	- 0.36	6121
5425	- 0.2	6477

Risk-Adjusted Indicators

There is a big difference between Shih Stock performing well and Shih Kuen 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 Shih Kuen'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	2.00	0.26	0.10	(0.95)	2.23	(2.53)	5.75	(3.49)	14.87
2329	2.07	(0.24)	0.00	(1.91)	0.00	0.00	4.20	(4.29)	16.85
6121	2.00	0.11	0.04	0.33	2.12	(2.40)	4.69	(3.74)	10.95
6202	1.95	(0.21)	0.00	1.60	0.00	0.00	5.28	(3.05)	18.30
6412	1.34	(0.05)	0.00	0.36	0.00	0.00	3.29	(2.77)	8.49
5425	1.33	(0.26)	0.00	(9.56)	0.00	0.00	2.39	(3.03)	10.93
1708	1.11	(0.08)	0.00	(0.30)	0.00	0.00	2.10	(2.32)	11.18

Be your own money manager

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