Tainet Communication Correlations

Stocks . Taiwan . 
Stock . Tainet Communication System
4905 Stock  TWD 80.40  0.30  0.37%   
The current 90-days correlation between Tainet Communication and Accton Technology Corp is -0.16 (i.e., Good diversification). The correlation of Tainet Communication 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.

Tainet Communication Correlation With Market

Modest diversification

The correlation between Tainet Communication System and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tainet Communication System and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Tainet Communication could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tainet Communication 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 Tainet Communication - 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 Tainet Communication System to buy it.

Moving together with Tainet Stock

  0.682474 Catcher TechnologyPairCorr
  0.620051 YuantaP shares TaiwanPairCorr

Moving against Tainet Stock

  0.662345 Accton Technology CorpPairCorr
  0.582603 Evergreen Marine CorpPairCorr
  0.586510 Chunghwa Precision TestPairCorr
  0.476669 Wiwynn CorpPairCorr
  0.453558 Senao NetworksPairCorr
  0.392357 Asustek ComputerPairCorr
  0.373596 Arcadyan Technology CorpPairCorr
  0.313704 Unizyx Holding CorpPairCorr

Related Correlations Analysis

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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   
3596
+ 0.8
2345
3380
+ 0.64
2345
3380
+ 0.59
3596
5388
+ 0.56
6285
3380
+ 0.46
5388
5388
+ 0.4
3596
  
High negative correlations   
4906
- 0.7
3596
4906
- 0.66
2345
4906
- 0.39
3380
4906
- 0.17
5388

Risk-Adjusted Indicators

There is a big difference between Tainet Stock performing well and Tainet Communication 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 Tainet Communication'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.

Be your own money manager

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