Wistron NeWeb Correlations
| 6285 Stock | TWD 142.00 0.00 0.00% |
The current 90-days correlation between Wistron NeWeb Corp and Bank of Kaohsiung is -0.03 (i.e., Good diversification). The correlation of Wistron NeWeb 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.
Wistron NeWeb Correlation With Market
Good diversification
The correlation between Wistron NeWeb Corp and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wistron NeWeb Corp and DJI in the same portfolio, assuming nothing else is changed.
Wistron |
The ability to find closely correlated positions to Wistron NeWeb could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wistron NeWeb 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 Wistron NeWeb - 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 Wistron NeWeb Corp to buy it.
Moving together with Wistron Stock
Moving against Wistron Stock
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
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Risk-Adjusted Indicators
There is a big difference between Wistron Stock performing well and Wistron NeWeb 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 Wistron NeWeb'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 6285 | 1.96 | 0.37 | 0.12 | (0.50) | 1.98 | 6.87 | 14.75 | |||
| 3231 | 1.69 | (0.01) | 0.00 | 0.15 | 0.00 | 3.95 | 11.31 | |||
| 2924 | 2.59 | (0.04) | 0.00 | 0.10 | 0.00 | 6.11 | 19.97 | |||
| 1109 | 0.42 | (0.11) | 0.00 | 3.64 | 0.00 | 0.82 | 2.58 | |||
| 2836 | 0.53 | (0.04) | 0.00 | 6.48 | 0.00 | 1.29 | 2.61 | |||
| 3128 | 0.64 | (0.02) | 0.00 | 0.19 | 0.00 | 1.30 | 3.79 | |||
| 4533 | 1.71 | (0.39) | 0.00 | 2.38 | 0.00 | 2.99 | 13.37 | |||
| 6126 | 1.23 | (0.29) | 0.00 | (1.63) | 0.00 | 3.42 | 11.08 | |||
| 1465 | 0.78 | (0.13) | 0.00 | (18.08) | 0.00 | 1.41 | 3.52 |
Wistron NeWeb 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 Wistron NeWeb stock to make a market-neutral strategy. Peer analysis of Wistron NeWeb could also be used in its relative valuation, which is a method of valuing Wistron NeWeb by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Wistron NeWeb Corporate Management
Elected by the shareholders, the Wistron NeWeb's board of directors comprises two types of representatives: Wistron NeWeb inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Wistron. The board's role is to monitor Wistron NeWeb's management team and ensure that shareholders' interests are well served. Wistron NeWeb'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, Wistron NeWeb's outside directors are responsible for providing unbiased perspectives on the board's policies.