Sunplus Innovation Correlations

5236 Stock

TWD 116.50 1.50 1.30%

The current 90-days correlation between Sunplus Innovation and Speed Tech is 0.24 (i.e., Modest diversification). The correlation of Sunplus Innovation 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.

Sunplus Innovation Correlation With Market

Average diversification

The correlation between Sunplus Innovation Technology and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sunplus Innovation Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sunplus Stock

0.74	3034	Novatek Microelectronics	Pair Corr
0.65	6415	Silergy Corp	Pair Corr
0.65	6488	GlobalWafers	Pair Corr
0.92	2357	Asustek Computer	Pair Corr
0.66	8016	Sitronix Technology Corp	Pair Corr
0.65	6732	Sensortek Technology Corp	Pair Corr
0.86	5269	Asmedia Technology	Pair Corr

Moving against Sunplus Stock

0.88	5274	Aspeed Technology	Pair Corr
0.79	3443	Global Unichip Corp	Pair Corr
0.68	2303	United Microelectronics	Pair Corr
0.66	6770	Powerchip Semiconductor	Pair Corr
0.55	2454	MediaTek	Pair Corr

Related Correlations Analysis

	5457	2423	3679	3622	4960	3689	2429	2459	3675	3645
5457		0.34	0.69	-0.87	0.63	-0.42	0.82	-0.7	0.92	0.88	5457
2423	0.34		0.08	-0.51	0.59	0.16	0.36	-0.51	0.3	0.37	2423
3679	0.69	0.08		-0.65	0.17	-0.15	0.37	-0.26	0.74	0.55	3679
3622	-0.87	-0.51	-0.65		-0.7	0.19	-0.8	0.73	-0.78	-0.85	3622
4960	0.63	0.59	0.17	-0.7		-0.27	0.77	-0.72	0.5	0.78	4960
3689	-0.42	0.16	-0.15	0.19	-0.27		-0.46	0.43	-0.23	-0.38	3689
2429	0.82	0.36	0.37	-0.8	0.77	-0.46		-0.81	0.65	0.91	2429
2459	-0.7	-0.51	-0.26	0.73	-0.72	0.43	-0.81		-0.53	-0.76	2459
3675	0.92	0.3	0.74	-0.78	0.5	-0.23	0.65	-0.53		0.79	3675
3645	0.88	0.37	0.55	-0.85	0.78	-0.38	0.91	-0.76	0.79		3645
	5457	2423	3679	3622	4960	3689	2429	2459	3675	3645

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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

3675	+ 0.92	5457
3645	+ 0.91	2429
3645	+ 0.88	5457
2429	+ 0.82	5457
3645	+ 0.79	3675
3645	+ 0.78	4960

High negative correlations

3622	- 0.87	5457
3645	- 0.85	3622
2459	- 0.81	2429
2429	- 0.8	3622
3675	- 0.78	3622
3645	- 0.76	2459

Risk-Adjusted Indicators

There is a big difference between Sunplus Stock performing well and Sunplus Innovation 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 Sunplus Innovation'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
5457	1.22	(0.22)	0.00	(1.87)	0.00	0.00	2.23	(2.58)	8.18
2423	1.26	(0.04)	0.00	(0.03)	0.00	0.00	3.44	(2.90)	11.21
3679	0.98	(0.01)	(0.06)	0.03	1.24	(1.10)	2.11	(2.09)	7.39
3622	1.83	0.38	0.13	3.38	2.02	(2.15)	5.34	(2.37)	12.83
4960	1.00	(0.19)	0.00	(0.75)	0.00	0.00	1.88	(1.85)	8.11
3689	2.14	0.32	0.13	0.44	2.15	(2.62)	5.71	(2.85)	14.94
2429	3.16	(0.79)	0.00	(0.69)	0.00	0.00	7.13	(7.14)	17.04
2459	0.50	0.04	(0.05)	0.37	0.53	(0.63)	1.07	(1.05)	3.89
3675	2.31	(0.14)	0.00	(0.09)	0.00	0.00	7.05	(3.90)	14.18
3645	1.61	(0.40)	0.00	(0.33)	0.00	0.00	3.30	(3.01)	8.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sunplus Innovation 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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