TM Technology Correlations

5468 Stock

TWD 18.55 0.20 1.09%

The current 90-days correlation between TM Technology and Amigo Technology is 0.1 (i.e., Average diversification). The correlation of TM 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.

TM Technology Correlation With Market

Modest diversification

The correlation between TM Technology and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TM Technology and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to TM 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 TM 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 TM 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 TM Technology to buy it.

Moving against 5468 Stock

0.35

6488

GlobalWafers

Pair Corr

Related Correlations Analysis

	8024	1813	3268	6103	8455	3623	6241	3064	9912	5248
8024		0.56	-0.43	0.59	0.68	-0.22	-0.09	-0.41	-0.6	0.11	8024
1813	0.56		-0.4	0.27	0.72	0.27	0.42	-0.61	-0.54	0.17	1813
3268	-0.43	-0.4		-0.36	-0.48	-0.52	-0.47	0.35	0.16	0.0	3268
6103	0.59	0.27	-0.36		0.3	-0.28	-0.25	-0.07	-0.33	-0.14	6103
8455	0.68	0.72	-0.48	0.3		0.24	0.17	-0.62	-0.64	0.05	8455
3623	-0.22	0.27	-0.52	-0.28	0.24		0.72	-0.39	0.05	-0.03	3623
6241	-0.09	0.42	-0.47	-0.25	0.17	0.72		-0.33	0.24	0.26	6241
3064	-0.41	-0.61	0.35	-0.07	-0.62	-0.39	-0.33		0.3	0.07	3064
9912	-0.6	-0.54	0.16	-0.33	-0.64	0.05	0.24	0.3		0.17	9912
5248	0.11	0.17	0.0	-0.14	0.05	-0.03	0.26	0.07	0.17		5248
	8024	1813	3268	6103	8455	3623	6241	3064	9912	5248

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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

8455	+ 0.72	1813
6241	+ 0.72	3623
8455	+ 0.68	8024
6103	+ 0.59	8024
1813	+ 0.56	8024
6241	+ 0.42	1813

High negative correlations

9912	- 0.64	8455
3064	- 0.62	8455
3064	- 0.61	1813
9912	- 0.6	8024
9912	- 0.54	1813
3623	- 0.52	3268

Risk-Adjusted Indicators

There is a big difference between 5468 Stock performing well and TM 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 TM 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
8024	0.90	(0.11)	0.00	(0.20)	0.00	0.00	2.41	(1.89)	7.45
1813	0.65	(0.01)	(0.09)	(0.21)	0.92	(1.17)	1.15	(1.13)	3.67
3268	1.09	0.00	0.00	0.11	0.00	0.00	1.81	(1.94)	8.90
6103	0.86	0.09	(0.01)	(1.34)	1.41	(2.75)	3.05	(2.19)	15.64
8455	2.21	(0.18)	0.00	(10.46)	0.00	0.00	5.50	(7.44)	18.01
3623	2.36	0.61	0.28	0.71	1.64	(3.24)	9.95	(3.50)	15.43
6241	1.60	0.09	0.00	1.04	1.71	(2.07)	4.76	(2.71)	9.93
3064	1.67	0.16	0.03	0.65	2.04	(2.65)	4.39	(4.82)	16.81
9912	0.71	0.01	(0.09)	0.18	0.82	(1.01)	1.69	(1.25)	6.17
5248	1.47	(0.19)	0.00	(0.76)	0.00	0.00	3.24	(3.85)	12.60

Be your own money manager

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