Taiwan Optical Correlations
| 6464 Stock | TWD 78.50 0.00 0.00% |
The current 90-days correlation between Taiwan Optical Platform and Cleanaway Co is -0.01 (i.e., Good diversification). The correlation of Taiwan Optical 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.
Taiwan Optical Correlation With Market
Significant diversification
The correlation between Taiwan Optical Platform and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taiwan Optical Platform and DJI in the same portfolio, assuming nothing else is changed.
Taiwan |
The ability to find closely correlated positions to Taiwan Optical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taiwan Optical 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 Taiwan Optical - 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 Taiwan Optical Platform to buy it.
Moving together with Taiwan Stock
Moving against Taiwan Stock
| 0.87 | 6596 | Kuang Hong Arts | PairCorr |
| 0.78 | 3711 | ASE Industrial Holding | PairCorr |
| 0.59 | 2454 | MediaTek | PairCorr |
| 0.54 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.51 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.47 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.42 | 0057 | Fubon MSCI Taiwan | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Taiwan Stock performing well and Taiwan Optical 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 Taiwan Optical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 8422 | 0.26 | (0.04) | 0.00 | (3.19) | 0.00 | 0.55 | 1.68 | |||
| 9930 | 0.40 | (0.02) | 0.00 | (1.32) | 0.00 | 0.90 | 2.68 | |||
| 8341 | 1.00 | (0.30) | 0.00 | 3.03 | 0.00 | 1.46 | 8.46 | |||
| 9925 | 0.25 | (0.03) | 0.00 | 1.78 | 0.00 | 0.49 | 1.93 | |||
| 6196 | 0.96 | 0.02 | (0.05) | (0.03) | 1.21 | 1.99 | 7.78 |
Taiwan Optical 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 Taiwan Optical stock to make a market-neutral strategy. Peer analysis of Taiwan Optical could also be used in its relative valuation, which is a method of valuing Taiwan Optical by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Taiwan Optical Corporate Management
Elected by the shareholders, the Taiwan Optical's board of directors comprises two types of representatives: Taiwan Optical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Taiwan. The board's role is to monitor Taiwan Optical's management team and ensure that shareholders' interests are well served. Taiwan Optical'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, Taiwan Optical's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Naiwei Chi | Chief Officer | Profile | |
| MingCheng Wang | Vice CEO | Profile | |
| Chiahui Chou | Chief Exec | Profile | |
| ShuLing Lin | CFO Officer | Profile |