Tainergy Tech Correlations
| 4934 Stock | TWD 14.20 0.35 2.41% |
The current 90-days correlation between Tainergy Tech and ANJI Technology Co is 0.67 (i.e., Poor diversification). The correlation of Tainergy Tech 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.
Tainergy Tech Correlation With Market
Average diversification
The correlation between Tainergy Tech Co and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tainergy Tech Co and DJI in the same portfolio, assuming nothing else is changed.
Tainergy |
The ability to find closely correlated positions to Tainergy Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tainergy Tech 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 Tainergy Tech - 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 Tainergy Tech Co to buy it.
Moving against Tainergy Stock
| 0.87 | 2891 | CTBC Financial Holding | PairCorr |
| 0.8 | 2317 | Hon Hai Precision | PairCorr |
| 0.79 | 2883 | China Development | PairCorr |
| 0.76 | 2382 | Quanta Computer | PairCorr |
| 0.73 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.72 | 2885 | Yuanta Financial Holdings | PairCorr |
| 0.7 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.69 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.61 | 0053 | YuantaP shares Taiwan | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Tainergy Stock performing well and Tainergy Tech 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 Tainergy Tech'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 3576 | 1.48 | (0.09) | 0.00 | 1.12 | 0.00 | 3.43 | 9.61 | |||
| 6443 | 1.63 | (0.27) | 0.00 | (117.66) | 0.00 | 3.81 | 10.03 | |||
| 6477 | 1.44 | (0.19) | 0.00 | (0.98) | 0.00 | 3.61 | 14.87 | |||
| 3686 | 2.06 | (0.48) | 0.00 | (4.38) | 0.00 | 3.56 | 17.13 | |||
| 2406 | 1.32 | (0.27) | 0.00 | (0.48) | 0.00 | 3.29 | 7.30 |
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