Transcom Correlations

Stocks Taiwan . 
Stock . Transcom
5222 Stock   134.00  1.50  1.11%   
The current 90-days correlation between Transcom and Advanced Power Electronics is 0.24 (i.e., Modest diversification). The correlation of Transcom 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.

Transcom Correlation With Market

Weak diversification

The correlation between Transcom and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Transcom and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Transcom could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Transcom 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 Transcom - 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 Transcom to buy it.

Moving together with Transcom Stock

  0.632412 Chunghwa TelecomPairCorr

Moving against Transcom Stock

  0.732451 Transcend InformationPairCorr
  0.712360 Chroma ATEPairCorr
  0.691303 Nan Ya PlasticsPairCorr
  0.676505 Formosa PetrochemicalPairCorr
  0.662643 Soonest ExpressPairCorr
  0.664706 Tah Kong ChemicalPairCorr
  0.652008 Kao Hsiung ChangPairCorr
  0.591326 Formosa Chemicals FibrePairCorr
  0.561301 Formosa Plastics CorpPairCorr
  0.551730 Farcent EnterprisePairCorr
  0.533037 Unimicron Technology CorpPairCorr
  0.428390 Jiin Yeeh DingPairCorr
  0.386127 Leatec Fine CeramicsPairCorr
  0.386139 LK EngineeringPairCorr
  0.352303 United MicroelectronicsPairCorr
  0.321587 Cryomax Cooling SystemPairCorr
  0.762891B CTBC Financial HoldingPairCorr
  0.723666 Optivision TechnologyPairCorr
  0.78299 Phison ElectronicsPairCorr
  0.641437 GTM Holdings CorpPairCorr
  0.594950 Golden Win International SplitPairCorr
  0.586770 Powerchip SemiconductorPairCorr
  0.553522 Toplus GlobalPairCorr
  0.541434 Formosa TaffetaPairCorr
  0.532327 Yageo CorpPairCorr
  0.476624 Ever Clear EnvironmePairCorr

Related Correlations Analysis


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

6679
+ 0.7
3545
3545
+ 0.67
8261
8110
+ 0.52
6173
6173
+ 0.51
5351
2493
+ 0.47
6683
6679
+ 0.46
8261
  

High negative correlations

6679
- 0.85
8110
6173
- 0.81
3545
8271
- 0.65
2493
8110
- 0.64
3545
6679
- 0.61
6173
5351
- 0.53
3545

Risk-Adjusted Indicators

There is a big difference between Transcom Stock performing well and Transcom 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 Transcom'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
8261  1.78 (0.13) 0.00 (0.07) 0.00 
 0.00 
 4.74 
(3.22)
 15.19 
3545  1.38 (0.36) 0.00 (0.52) 0.00 
 0.00 
 2.42 
(3.09)
 7.23 
6683  2.30  0.16  0.05  0.32  2.48 
(2.76)
 5.52 
(4.71)
 16.66 
5425  2.00 (0.13) 0.00 (0.08) 0.00 
 0.00 
 7.59 
(4.03)
 16.11 
5351  3.03  0.61  0.16  8.84  2.89 
(3.41)
 7.08 
(4.20)
 19.13 
6173  2.74  0.40  0.13  0.45  2.59 
(3.01)
 9.86 
(4.83)
 15.62 
2493  2.14  0.37  0.12  1.44  2.26 
(2.59)
 7.62 
(3.32)
 16.20 
8110  4.74  1.91  0.39  1.45  3.88 
(5.95)
 9.97 
(9.08)
 19.89 
8271  3.29  0.80  0.18 (5.95) 3.37 
(3.75)
 9.76 
(6.05)
 19.96 
6679  1.62 (0.30) 0.00  1.60  0.00 
 0.00 
 3.40 
(4.39)
 9.99 

Transcom Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Transcom stock to make a market-neutral strategy. Peer analysis of Transcom could also be used in its relative valuation, which is a method of valuing Transcom by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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