Kunyue Development Correlations

5206 Stock

TWD 43.50 0.95 2.23%

The current 90-days correlation between Kunyue Development and Evermore Chemical Industry is 0.17 (i.e., Average diversification). The correlation of Kunyue Development 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.

Kunyue Development Correlation With Market

Good diversification

The correlation between Kunyue Development Co and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kunyue Development Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Kunyue Stock

0.67	5871	Chailease Holding	Pair Corr
0.59	9928	China Television	Pair Corr
0.57	5903	Taiwan FamilyMart	Pair Corr
0.54	0051	YuantaP shares Taiwan	Pair Corr
0.48	2633	Taiwan High Speed Earnings Call This Week	Pair Corr
0.43	5608	Shih Wei Navigation Earnings Call This Week	Pair Corr

Related Correlations Analysis

	1735	4747	4939	4973	4303	4763	1312A
1735		0.38	0.4	-0.11	-0.17	0.07	0.35	1735
4747	0.38		-0.07	-0.44	-0.31	-0.24	-0.18	4747
4939	0.4	-0.07		0.43	0.32	0.16	0.21	4939
4973	-0.11	-0.44	0.43		0.41	0.3	0.51	4973
4303	-0.17	-0.31	0.32	0.41		0.45	0.16	4303
4763	0.07	-0.24	0.16	0.3	0.45		0.14	4763
1312A	0.35	-0.18	0.21	0.51	0.16	0.14		1312A
	1735	4747	4939	4973	4303	4763	1312A

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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

1312A	+ 0.51	4973
4763	+ 0.45	4303
4973	+ 0.43	4939
4303	+ 0.41	4973
4939	+ 0.4	1735
4747	+ 0.38	1735

High negative correlations

4973	- 0.44	4747
4303	- 0.31	4747
4763	- 0.24	4747
1312A	- 0.18	4747
4303	- 0.17	1735
4973	- 0.11	1735

Risk-Adjusted Indicators

There is a big difference between Kunyue Stock performing well and Kunyue Development 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 Kunyue Development'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
1735	1.27	(0.26)	0.00	0.89	0.00	0.00	2.43	(2.96)	7.31
4747	1.22	(0.05)	0.00	1.60	0.00	0.00	3.11	(3.14)	15.14
4939	0.93	(0.03)	0.00	0.26	0.00	0.00	2.20	(1.89)	6.25
4973	1.25	0.12	0.08	0.97	1.40	(1.35)	2.48	(2.50)	8.79
4303	2.07	0.24	0.08	(2.49)	2.49	(2.43)	4.94	(3.82)	15.94
4763	1.35	0.09	0.05	1.58	1.65	(1.34)	2.87	(2.79)	7.44
1312A	0.48	0.00	0.00	(0.01)	0.65	(1.15)	1.96	(1.28)	6.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kunyue Development 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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