Hu Lane Correlations

6279 Stock  TWD 180.50  0.50  0.28%   
The current 90-days correlation between Hu Lane Associate and Hota Industrial Mfg is 0.23 (i.e., Modest diversification). The correlation of Hu Lane 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.

Hu Lane Correlation With Market

Significant diversification

The correlation between Hu Lane Associate and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hu Lane Associate and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hu Lane could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hu Lane 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 Hu Lane - 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 Hu Lane Associate to buy it.

Moving together with 6279 Stock

  0.610050 YuantaP shares TaiwanPairCorr
  0.610057 Fubon MSCI TaiwanPairCorr

Moving against 6279 Stock

  0.372072 Century Wind PowerPairCorr

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   
15363665
30238255
82553552
35523665
  
High negative correlations   
30233665
82553665
82551536
30233552
35521536
30231536

Risk-Adjusted Indicators

There is a big difference between 6279 Stock performing well and Hu Lane 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 Hu Lane'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.

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