Azion Correlations

6148 Stock  TWD 25.30  0.15  0.60%   
The current 90-days correlation between Azion and Great Computer is 0.11 (i.e., Average diversification). The correlation of Azion 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.

Azion Correlation With Market

Significant diversification

The correlation between Azion and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Azion and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Azion could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Azion 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 Azion - 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 Azion to buy it.

Moving together with Azion Stock

  0.770051 YuantaP shares TaiwanPairCorr

Moving against Azion Stock

  0.633596 Arcadyan Technology CorpPairCorr
  0.612345 Accton Technology CorpPairCorr
  0.583558 Senao NetworksPairCorr
  0.335388 Sercomm CorpPairCorr
  0.326285 Wistron NeWeb CorpPairCorr

Related Correlations Analysis

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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   
31473416
34162357
24533147
30383416
80472357
31472357
  
High negative correlations   
66743147
61423416
24536674
66743416
24538047
61422357

Risk-Adjusted Indicators

There is a big difference between Azion Stock performing well and Azion 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 Azion'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.

Azion 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 Azion stock to make a market-neutral strategy. Peer analysis of Azion could also be used in its relative valuation, which is a method of valuing Azion by comparing valuation metrics with similar companies.
 Risk & Return  Correlation