Netronix Correlations

Stocks . Taiwan . 
Stock . Netronix
6143 Stock  TWD 107.00  3.50  3.17%   
The current 90-days correlation between Netronix and Kingstate Electronics is 0.41 (i.e., Very weak diversification). The correlation of Netronix 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.

Netronix Correlation With Market

Significant diversification

The correlation between Netronix and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Netronix and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Netronix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Netronix 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 Netronix - 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 Netronix to buy it.

Moving together with Netronix Stock

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Moving against Netronix Stock

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  0.383380 Alpha NetworksPairCorr
  0.791303 Nan Ya PlasticsPairCorr
  0.756691 Yankey EngineeringPairCorr
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  0.733530 Silicon OptronicsPairCorr
  0.691735 Evermore ChemicalPairCorr
  0.693593 Logah Technology Corp SplitPairCorr
  0.692236 Patec Precision Industry SplitPairCorr
  0.666640 Gallant Micro MachiningPairCorr
  0.636021 Good Finance SecuritiesPairCorr
  0.623489 Sun Brothers DevelopmentPairCorr
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  0.565864 Concord InternationalPairCorr
  0.522455 Visual Photonics EpitaxyPairCorr
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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

4995
+ 0.86
6474
3206
+ 0.82
6474
4995
+ 0.78
8089
4995
+ 0.72
3206
6590
+ 0.65
6148
6590
+ 0.65
3206
  

High negative correlations

4995
- 0.56
6470
6470
- 0.55
6474
6474
- 0.52
6530
6470
- 0.45
8089
4995
- 0.44
6530
4905
- 0.44
6530

Risk-Adjusted Indicators

There is a big difference between Netronix Stock performing well and Netronix 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 Netronix'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
6148  1.80 (0.10) 0.00  0.37  0.00 
 0.00 
 3.08 
(3.22)
 16.93 
6530  1.88  0.06  0.00  0.26  2.06 
(2.11)
 5.89 
(3.09)
 14.57 
4905  1.27 (0.03) 0.00  0.23  0.00 
 0.00 
 4.57 
(3.03)
 11.07 
6820  4.08  0.62  0.10 (0.53) 3.70 
(4.55)
 12.08 
(6.29)
 19.84 
6474  1.26 (0.27) 0.00  3.22  0.00 
 0.00 
 2.53 
(3.53)
 11.55 
8089  2.43 (0.14) 0.00 (0.06) 0.00 
 0.00 
 5.03 
(6.98)
 19.94 
3206  0.35 (0.14) 0.00 (0.88) 0.00 
 0.00 
 0.46 
(0.92)
 2.34 
6590  0.71 (0.03) 0.00  0.31  0.00 
 0.00 
 1.37 
(1.63)
 4.67 
6470  1.36  0.13  0.05  0.42  1.42 
(1.57)
 3.21 
(2.54)
 12.48 
4995  0.75 (0.18) 0.00 (1.51) 0.00 
 0.00 
 1.49 
(1.88)
 7.45 

Be your own money manager

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