Aplex Technology Correlations

6570 Stock

TWD 38.95 0.05 0.13%

The correlation of Aplex Technology 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.

Aplex Technology Correlation With Market

Average diversification

The correlation between Aplex Technology and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aplex Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Aplex Stock

0.66	2382	Quanta Computer	Pair Corr
0.87	3005	Getac Technology Corp	Pair Corr
0.75	6756	VIA Labs	Pair Corr
0.63	3022	IEI Integration Corp	Pair Corr
0.85	6579	AAEON Technology	Pair Corr
0.87	8050	IBASE Technology	Pair Corr
0.95	3545	FocalTech Systems	Pair Corr

Moving against Aplex Stock

0.81	3666	Optivision Technology	Pair Corr
0.72	6669	Wiwynn Corp	Pair Corr
0.69	5289	InnoDisk	Pair Corr
0.49	1432	Trk Corp	Pair Corr

Related Correlations Analysis

	3521	6680	3272	3659	2432	3684	6599	3097	3021	2380
3521		-0.58	-0.7	0.65	-0.75	0.18	-0.78	-0.13	0.07	-0.63	3521
6680	-0.58		0.37	-0.75	0.71	-0.67	0.44	0.64	-0.32	0.28	6680
3272	-0.7	0.37		-0.38	0.78	-0.25	0.55	-0.03	0.31	0.9	3272
3659	0.65	-0.75	-0.38		-0.66	0.61	-0.48	-0.36	0.35	-0.43	3659
2432	-0.75	0.71	0.78	-0.66		-0.4	0.51	0.31	0.03	0.68	2432
3684	0.18	-0.67	-0.25	0.61	-0.4		-0.13	-0.53	0.17	-0.18	3684
6599	-0.78	0.44	0.55	-0.48	0.51	-0.13		0.12	-0.04	0.51	6599
3097	-0.13	0.64	-0.03	-0.36	0.31	-0.53	0.12		-0.44	-0.18	3097
3021	0.07	-0.32	0.31	0.35	0.03	0.17	-0.04	-0.44		0.3	3021
2380	-0.63	0.28	0.9	-0.43	0.68	-0.18	0.51	-0.18	0.3		2380
	3521	6680	3272	3659	2432	3684	6599	3097	3021	2380

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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

2380	+ 0.9	3272
2432	+ 0.78	3272
2432	+ 0.71	6680
2380	+ 0.68	2432
3659	+ 0.65	3521
3097	+ 0.64	6680

High negative correlations

6599	- 0.78	3521
3659	- 0.75	6680
2432	- 0.75	3521
3272	- 0.7	3521
3684	- 0.67	6680
2432	- 0.66	3659

Risk-Adjusted Indicators

There is a big difference between Aplex Stock performing well and Aplex Technology 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 Aplex Technology'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
3521	2.28	0.29	0.12	0.56	1.93	(3.50)	8.88	(3.19)	15.22
6680	1.41	(0.22)	0.00	2.56	0.00	0.00	3.36	(3.17)	15.97
3272	1.12	(0.28)	0.00	(0.53)	0.00	0.00	2.04	(2.82)	12.97
3659	1.50	(0.02)	(0.01)	0.07	2.22	(1.97)	4.17	(4.55)	14.32
2432	0.78	(0.19)	0.00	(0.60)	0.00	0.00	1.33	(1.96)	4.89
3684	2.31	0.45	0.11	(0.55)	2.23	(3.20)	9.92	(4.11)	17.50
6599	0.77	0.39	0.00	15.70	0.00	0.00	3.28	0.00	5.33
3097	1.18	(0.10)	0.00	(0.19)	0.00	0.00	2.13	(4.15)	8.98
3021	0.98	(0.02)	(0.06)	(0.02)	1.20	(1.31)	2.29	(2.22)	9.02
2380	2.30	0.21	0.04	(1.16)	2.32	(3.13)	9.85	(4.60)	16.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in Aplex Technology without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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