C Media Correlations

6237 Stock

TWD 58.30 1.20 2.02%

The current 90-days correlation between C Media Electronics and Song Ho Industrial is -0.06 (i.e., Good diversification). The correlation of C Media 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.

C Media Correlation With Market

Modest diversification

The correlation between C Media Electronics and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding C Media Electronics and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to C Media could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace C Media 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 C Media - 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 C Media Electronics to buy it.

Moving together with 6237 Stock

0.61	2881B	Fubon Financial Holding	Pair Corr
0.61	0053	YuantaP shares Taiwan	Pair Corr

Moving against 6237 Stock

0.46	1725	Yuan Jen Enterprises	Pair Corr
0.39	1235	Shin Tai Industry	Pair Corr
0.35	6488	GlobalWafers	Pair Corr
0.5	4558	ALFORMER Industrial	Pair Corr
0.37	2354	Foxconn Technology	Pair Corr
0.34	2609	Yang Ming Marine	Pair Corr

Related Correlations Analysis

	2634	5016	8011	6561	8446	3310	9927
2634		-0.3	0.4	0.1	-0.18	-0.39	0.65	2634
5016	-0.3		0.07	0.37	0.38	0.1	-0.31	5016
8011	0.4	0.07		0.77	0.61	-0.83	0.56	8011
6561	0.1	0.37	0.77		0.79	-0.59	0.22	6561
8446	-0.18	0.38	0.61	0.79		-0.35	0.07	8446
3310	-0.39	0.1	-0.83	-0.59	-0.35		-0.65	3310
9927	0.65	-0.31	0.56	0.22	0.07	-0.65		9927
	2634	5016	8011	6561	8446	3310	9927

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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

8446	+ 0.79	6561
6561	+ 0.77	8011
9927	+ 0.65	2634
8446	+ 0.61	8011
9927	+ 0.56	8011
8011	+ 0.4	2634

High negative correlations

3310	- 0.83	8011
9927	- 0.65	3310
3310	- 0.59	6561
3310	- 0.39	2634
3310	- 0.35	8446
9927	- 0.31	5016

Risk-Adjusted Indicators

There is a big difference between 6237 Stock performing well and C Media 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 C Media'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
2634	0.90	(0.05)	0.00	1.44	0.00	0.00	2.11	(1.85)	5.04
5016	0.31	0.00	(0.04)	0.07	0.35	(0.43)	0.73	(0.72)	2.36
8011	1.57	(0.29)	0.00	(1.58)	0.00	0.00	2.97	(3.70)	11.63
6561	1.44	(0.11)	0.00	0.24	0.00	0.00	2.38	(3.27)	15.72
8446	0.93	0.00	(0.01)	0.06	1.19	(1.11)	2.17	(1.99)	7.83
3310	0.75	0.19	0.12	2.94	1.02	(0.97)	1.98	(1.48)	7.02
9927	0.56	(0.08)	0.00	(0.30)	0.00	0.00	0.92	(1.06)	4.05

Be your own money manager

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