Wafer Works Correlations
| 6182 Stock | TWD 24.65 0.05 0.20% |
The current 90-days correlation between Wafer Works and Motech Industries Co is 0.51 (i.e., Very weak diversification). The correlation of Wafer Works 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.
Wafer Works Correlation With Market
Good diversification
The correlation between Wafer Works and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wafer Works and DJI in the same portfolio, assuming nothing else is changed.
Wafer |
The ability to find closely correlated positions to Wafer Works could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wafer Works 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 Wafer Works - 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 Wafer Works to buy it.
Moving together with Wafer Stock
Moving against Wafer Stock
| 0.41 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.36 | 6811 | Acer E Enabling | PairCorr |
| 0.34 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.33 | 0057 | Fubon MSCI Taiwan | PairCorr |
Related Correlations Analysis
| 0.59 | 0.62 | 0.66 | 0.48 | 5483 | ||
| 0.59 | 0.87 | 0.92 | 0.76 | 6488 | ||
| 0.62 | 0.87 | 0.92 | 0.66 | 6244 | ||
| 0.66 | 0.92 | 0.92 | 0.77 | 3532 | ||
| 0.48 | 0.76 | 0.66 | 0.77 | 3037 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Wafer Stock performing well and Wafer Works 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 Wafer Works' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 5483 | 1.43 | (0.49) | 0.00 | 20.52 | 0.00 | 2.19 | 12.62 | |||
| 6488 | 1.49 | (0.29) | 0.00 | 0.80 | 0.00 | 3.20 | 11.54 | |||
| 6244 | 1.73 | (0.32) | 0.00 | 10.81 | 0.00 | 4.20 | 10.92 | |||
| 3532 | 1.52 | (0.46) | 0.00 | (8.21) | 0.00 | 2.50 | 9.64 | |||
| 3037 | 1.46 | (0.24) | 0.00 | 0.75 | 0.00 | 3.19 | 11.69 |
Wafer Works 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 Wafer Works stock to make a market-neutral strategy. Peer analysis of Wafer Works could also be used in its relative valuation, which is a method of valuing Wafer Works by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Wafer Works Corporate Management
Elected by the shareholders, the Wafer Works' board of directors comprises two types of representatives: Wafer Works inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Wafer. The board's role is to monitor Wafer Works' management team and ensure that shareholders' interests are well served. Wafer Works' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Wafer Works' outside directors are responsible for providing unbiased perspectives on the board's policies.
| LungChih Lin | Assistant Sales | Profile | |
| ChiaYu Lu | Accounting Director | Profile | |
| WeiLun Lin | Financial Director | Profile | |
| Jiao Hai | G Mang | Profile | |
| PingHai Chiao | Chairman CEO | Profile | |
| WenChung Liao | Chief Officer | Profile | |
| HsienYuan Chang | Pres Mang | Profile |