Yufo Electronics Correlations
| 6194 Stock | TWD 37.85 0.20 0.53% |
The current 90-days correlation between Yufo Electronics and United Microelectronics is 0.41 (i.e., Very weak diversification). The correlation of Yufo Electronics 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.
Yufo Electronics Correlation With Market
Average diversification
The correlation between Yufo Electronics Co and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yufo Electronics Co and DJI in the same portfolio, assuming nothing else is changed.
Yufo |
The ability to find closely correlated positions to Yufo Electronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Yufo Electronics 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 Yufo Electronics - 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 Yufo Electronics Co to buy it.
Moving against Yufo Stock
| 0.56 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.5 | 3211 | Dynapack International | PairCorr |
| 0.46 | 3545 | FocalTech Systems | PairCorr |
| 0.44 | 1432 | Trk Corp | PairCorr |
| 0.4 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.37 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.35 | 0053 | YuantaP shares Taiwan | PairCorr |
Related Correlations Analysis
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