Powertech Technology Correlations

Stocks . Taiwan . 
Stock . Powertech Technology
6239 Stock  TWD 258.00  0.50  0.19%   
The current 90-days correlation between Powertech Technology and U Best Polymer Industry is 0.3 (i.e., Weak diversification). The correlation of Powertech Technology 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.

Powertech Technology Correlation With Market

Poor diversification

The correlation between Powertech Technology and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Powertech Technology and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Powertech Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Powertech Technology 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 Powertech Technology - 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 Powertech Technology to buy it.

Moving together with Powertech Stock

  0.764961 Fitipower IntegratedPairCorr
  0.921584 S Tech CorpPairCorr
  0.775488 Sunf Pu TechnologyPairCorr
  0.92409 AU OptronicsPairCorr
  0.786127 Leatec Fine CeramicsPairCorr
  0.642603 Evergreen Marine CorpPairCorr
  0.82495 Infortrend TechnologyPairCorr
  0.686613 Nova TechnologyPairCorr
  0.683659 Bison ElectronicsPairCorr
  0.966015 Horizon SecuritiesPairCorr
  0.783372 Taiwan IC PackagingPairCorr
  0.877728 Enli Technology CoLtdPairCorr
  0.928016 Sitronix Technology CorpPairCorr
  0.71434 Formosa Taffeta Earnings Call Next WeekPairCorr
  0.732063 Sheh Kai PrecisionPairCorr
  0.664121 Rossmax InternationalPairCorr
  0.793131 Grand Plastic TechnologyPairCorr
  0.775489 DynacolorPairCorr
  0.888081 Global Mixed ModePairCorr
  0.686108 APCB IncPairCorr
  0.762329 Orient SemiconductorPairCorr
  0.935302 Syntek SemiconductorPairCorr
  0.794720 Tex Year IndustriesPairCorr
  0.648410 Sentien Printing FactoryPairCorr

Moving against Powertech Stock

  0.716533 Andes Technology CorpPairCorr
  0.713259 Solid State SystemPairCorr
  0.576689 eCloudvalley DigitalPairCorr
  0.415348 Empower TechnologyPairCorr
  0.372321 TecomPairCorr

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

00923
+ 0.81
2412
2412
+ 0.7
6127
00923
+ 0.69
6127
4714
+ 0.66
6127
6606
+ 0.58
6127
00923
+ 0.55
6606
  

High negative correlations

1777
- 0.84
6127
00923
- 0.83
1777
2412
- 0.67
1777
6606
- 0.53
1777
4714
- 0.52
1777
5236
- 0.07
6127

Risk-Adjusted Indicators

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

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

Powertech Technology Corporate Management

Elected by the shareholders, the Powertech Technology's board of directors comprises two types of representatives: Powertech Technology inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Powertech. The board's role is to monitor Powertech Technology's management team and ensure that shareholders' interests are well served. Powertech Technology's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Powertech Technology's outside directors are responsible for providing unbiased perspectives on the board's policies.
DuhKung TsaiChairman OfficerProfile
Gail ChuangMa RelationsProfile
J LeuSenior Deputy General Manager-Packaging OperationProfile
Y ChenDeputy General Manager-Packaging ManufacturingProfile
Boris HsiehCEO DirectorProfile
Yohan LinDeputy General Manager-Human Resources & Legal AffairsProfile
Kevin ChiaoVP SalesProfile
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