Amazing Microelectronic Correlations
| 6411 Stock | TWD 93.10 0.30 0.32% |
The current 90-days correlation between Amazing Microelectronic and United Microelectronics is 0.45 (i.e., Very weak diversification). The correlation of Amazing Microelectronic 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.
Amazing Microelectronic Correlation With Market
Average diversification
The correlation between Amazing Microelectronic and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amazing Microelectronic and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Amazing Microelectronic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Amazing Microelectronic 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 Amazing Microelectronic - 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 Amazing Microelectronic to buy it.
Moving together with Amazing Stock
Moving against Amazing Stock
Related Correlations Analysis
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