Falcon Machine Correlations

4513 Stock

TWD 20.65 1.85 9.84%

The current 90-days correlation between Falcon Machine Tools and Paragon Technologies Co is 0.28 (i.e., Modest diversification). The correlation of Falcon Machine 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.

Falcon Machine Correlation With Market

Weak diversification

The correlation between Falcon Machine Tools and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Falcon Machine Tools and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Falcon Stock

0.71	2049	Hiwin Technologies Corp	Pair Corr
0.63	4540	TBI Motion Technology	Pair Corr

Moving against Falcon Stock

0.5	910322	Tingyi Holding Corp	Pair Corr
0.37	8415	Brighton Best Intern	Pair Corr

Related Correlations Analysis

	6618	3518	1595	1531	3284	8047	1540	3379	4577
6618		0.14	0.11	0.04	0.01	0.57	-0.03	-0.19	0.55	6618
3518	0.14		0.58	0.7	-0.27	0.42	0.56	0.03	0.19	3518
1595	0.11	0.58		0.72	-0.33	0.37	0.41	-0.5	0.56	1595
1531	0.04	0.7	0.72		-0.31	0.22	0.71	-0.18	0.3	1531
3284	0.01	-0.27	-0.33	-0.31		-0.37	-0.2	0.62	-0.35	3284
8047	0.57	0.42	0.37	0.22	-0.37		0.14	-0.47	0.71	8047
1540	-0.03	0.56	0.41	0.71	-0.2	0.14		0.12	0.11	1540
3379	-0.19	0.03	-0.5	-0.18	0.62	-0.47	0.12		-0.76	3379
4577	0.55	0.19	0.56	0.3	-0.35	0.71	0.11	-0.76		4577
	6618	3518	1595	1531	3284	8047	1540	3379	4577

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

1531	+ 0.72	1595
1540	+ 0.71	1531
4577	+ 0.71	8047
1531	+ 0.7	3518
3379	+ 0.62	3284
1595	+ 0.58	3518

High negative correlations

4577	- 0.76	3379
3379	- 0.5	1595
3379	- 0.47	8047
8047	- 0.37	3284
4577	- 0.35	3284
3284	- 0.33	1595

Risk-Adjusted Indicators

There is a big difference between Falcon Stock performing well and Falcon Machine 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 Falcon Machine'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
6618	2.24	(0.45)	0.00	(5.06)	0.00	0.00	6.19	(4.85)	15.46
3518	1.40	0.06	0.00	0.25	1.53	(1.70)	3.56	(2.53)	11.85
1595	1.74	0.20	0.05	(2.83)	1.77	(2.05)	5.72	(2.48)	16.40
1531	0.77	0.06	(0.03)	2.30	0.75	(0.95)	1.30	(1.26)	3.89
3284	1.50	(0.06)	(0.05)	0.01	1.52	(2.17)	4.39	(2.70)	13.80
8047	3.96	0.77	0.17	0.97	3.47	(5.11)	9.97	(6.57)	19.93
1540	1.58	0.25	0.14	0.40	1.32	(2.04)	5.24	(2.37)	15.65
3379	1.71	(0.23)	0.00	(0.12)	0.00	0.00	4.78	(2.85)	16.65
4577	3.58	0.82	0.24	0.61	2.92	(4.31)	9.90	(6.09)	18.10

Be your own money manager

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