Yield Microelectronics Correlations

6423 Stock

80.70 1.50 1.82%

The current 90-days correlation between Yield Microelectronics and Advanced Analog Technology is 0.11 (i.e., Average diversification). The correlation of Yield Microelectronics 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.

Yield Microelectronics Correlation With Market

Modest diversification

The correlation between Yield Microelectronics Corp and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yield Microelectronics Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Yield Stock

0.68	2330	Taiwan Semiconductor Earnings Call This Week	Pair Corr
0.65	0050	YuantaP shares Taiwan	Pair Corr
0.67	0057	Fubon MSCI Taiwan	Pair Corr

Related Correlations Analysis

	3438	6983	6642	6658	3437	6787	6532	6552	3555	3094
3438		-0.38	-0.76	0.0	-0.09	-0.33	0.26	-0.16	0.57	-0.12	3438
6983	-0.38		0.45	0.54	0.22	-0.04	0.07	0.26	-0.19	0.22	6983
6642	-0.76	0.45		0.34	0.43	0.29	0.04	0.27	-0.34	0.34	6642
6658	0.0	0.54	0.34		0.78	0.03	0.73	0.71	0.35	0.71	6658
3437	-0.09	0.22	0.43	0.78		0.09	0.74	0.74	0.37	0.89	3437
6787	-0.33	-0.04	0.29	0.03	0.09		-0.16	0.06	-0.29	0.03	6787
6532	0.26	0.07	0.04	0.73	0.74	-0.16		0.66	0.68	0.69	6532
6552	-0.16	0.26	0.27	0.71	0.74	0.06	0.66		0.12	0.86	6552
3555	0.57	-0.19	-0.34	0.35	0.37	-0.29	0.68	0.12		0.21	3555
3094	-0.12	0.22	0.34	0.71	0.89	0.03	0.69	0.86	0.21		3094
	3438	6983	6642	6658	3437	6787	6532	6552	3555	3094

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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

3094	+ 0.89	3437
3094	+ 0.86	6552
3437	+ 0.78	6658
6532	+ 0.74	3437
6552	+ 0.74	3437
6532	+ 0.73	6658

High negative correlations

6642	- 0.76	3438
6983	- 0.38	3438
3555	- 0.34	6642
6787	- 0.33	3438
3555	- 0.29	6787
3555	- 0.19	6983

Risk-Adjusted Indicators

There is a big difference between Yield Stock performing well and Yield Microelectronics 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 Yield Microelectronics' 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
3438	2.20	0.07	0.05	0.13	2.00	(2.89)	6.33	(3.30)	14.18
6983	3.27	0.78	0.16	(0.58)	3.18	(4.50)	6.87	(4.35)	33.09
6642	0.78	(0.07)	0.00	2.53	0.00	0.00	2.18	(2.47)	6.77
6658	1.87	(0.06)	0.00	(0.14)	0.00	0.00	4.30	(3.35)	14.69
3437	1.50	(0.04)	(0.04)	0.00	2.03	(1.56)	2.92	(3.70)	9.96
6787	3.00	0.20	0.04	(3.84)	2.71	(4.88)	11.03	(4.21)	18.69
6532	1.43	(0.08)	0.00	0.79	0.00	0.00	4.06	(2.29)	13.48
6552	1.14	(0.19)	0.00	(0.35)	0.00	0.00	2.08	(2.65)	9.07
3555	3.80	0.35	0.09	0.42	3.74	(4.76)	9.92	(5.92)	19.22
3094	1.35	(0.07)	0.00	(2.00)	0.00	0.00	2.47	(3.29)	11.00

Yield Microelectronics 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 Yield Microelectronics stock to make a market-neutral strategy. Peer analysis of Yield Microelectronics could also be used in its relative valuation, which is a method of valuing Yield Microelectronics by comparing valuation metrics with similar companies.

Advanced Analog Technology 6983 Fuzetec Technology Co SynPower Co Advanced Optoelectronic Technology Kingray Technology Co Calitech Co JMC Electronics Co BaaS Innovation Co Davicom Semiconductor American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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