STL Technology Correlations

Stocks . Taiwan . 
Stock . STL Technology Co
4931 Stock   60.50  4.70  8.42%   
The current 90-days correlation between STL Technology and Celxpert Energy is 0.58 (i.e., Very weak diversification). The correlation of STL 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.

STL Technology Correlation With Market

Average diversification

The correlation between STL Technology Co and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STL Technology Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to STL 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 STL 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 STL 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 STL Technology Co to buy it.

Moving together with STL Stock

  0.936781 Advanced Energy SolutionPairCorr
  0.983211 Dynapack InternationalPairCorr

Moving against STL Stock

  0.884157 Taigen BiopharmaceuticaPairCorr
  0.86461 Intech BiopharmPairCorr
  0.744192 SynCore BiotechnologyPairCorr
  0.711605 Walsin Lihwa CorpPairCorr
  0.691435 Chung Fu TexPairCorr
  0.672489 Amtran Technology SplitPairCorr
  0.660051 YuantaP shares TaiwanPairCorr
  0.656620 Handa PharmaceuticalsPairCorr
  0.616409 Voltronic Power TechPairCorr
  0.615514 Sunfon ConstructionPairCorr
  0.534174 OBI PharmaPairCorr
  0.491514 Allis Electric SplitPairCorr
  0.478109 P Duke TechnologyPairCorr
  0.461609 Ta Ya ElectricPairCorr
  0.356186 Shin Ruenn Development SplitPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between STL Stock performing well and STL 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 STL 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in STL Technology 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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