Taiwan Steel Correlations
| 6581 Stock | TWD 110.00 1.00 0.90% |
The current 90-days correlation between Taiwan Steel Union and Cleanaway Co is 0.4 (i.e., Very weak diversification). The correlation of Taiwan Steel 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 Steel Correlation With Market
Good diversification
The correlation between Taiwan Steel Union and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taiwan Steel Union and DJI in the same portfolio, assuming nothing else is changed.
Taiwan |
The ability to find closely correlated positions to Taiwan Steel 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 Steel 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 Steel - 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 Steel Union to buy it.
Moving together with Taiwan Stock
| 0.68 | 8422 | Cleanaway | PairCorr |
| 0.64 | 8440 | EE Recycling | PairCorr |
| 0.78 | 6186 | Shin Ruenn Development | PairCorr |
| 0.81 | 6261 | Youngtek Electronics | PairCorr |
| 0.68 | 1466 | Acelon Chemicals Fiber | PairCorr |
| 0.62 | 8499 | Top Bright Holding | PairCorr |
| 0.61 | 2617 | Taiwan Navigation | PairCorr |
| 0.68 | 8088 | Panram International | PairCorr |
| 0.77 | 1402 | Far Eastern New | PairCorr |
Moving against Taiwan Stock
| 0.72 | 6624 | Ever Clear Environme | PairCorr |
| 0.43 | 8473 | Forest Water Environ | PairCorr |
| 0.43 | 6461 | Intech Biopharm | PairCorr |
| 0.37 | 4192 | SynCore Biotechnology | PairCorr |
| 0.32 | 5514 | Sunfon Construction | PairCorr |
| 0.67 | 6568 | Rafael Microelectronics | PairCorr |
| 0.35 | 4764 | Double Bond Chemical | PairCorr |
Related Correlations Analysis
| 0.06 | -0.43 | 0.28 | 0.63 | 8422 | ||
| 0.06 | 0.61 | 0.64 | 0.55 | 8341 | ||
| -0.43 | 0.61 | 0.45 | 0.13 | 5434 | ||
| 0.28 | 0.64 | 0.45 | 0.5 | 1537 | ||
| 0.63 | 0.55 | 0.13 | 0.5 | 5871 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Taiwan Stock performing well and Taiwan Steel 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 Steel'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 | 0.44 | 0.09 | 0.35 | (1.12) | 0.26 | 1.33 | 3.20 | |||
| 8341 | 0.74 | (0.11) | 0.00 | 0.43 | 0.00 | 1.23 | 5.04 | |||
| 5434 | 0.94 | (0.16) | 0.00 | (1.07) | 0.00 | 1.78 | 7.22 | |||
| 1537 | 0.60 | (0.02) | 0.00 | 0.90 | 0.00 | 0.99 | 3.83 | |||
| 5871 | 1.33 | 0.10 | 0.13 | (0.58) | 1.46 | 2.73 | 11.16 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Taiwan Steel 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.Did you try this?
Run Headlines Timeline Now
Headlines TimelineStay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |
| All Next | Launch Module |
Taiwan Steel Corporate Management
Elected by the shareholders, the Taiwan Steel's board of directors comprises two types of representatives: Taiwan Steel 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 Steel's management team and ensure that shareholders' interests are well served. Taiwan Steel'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 Steel's outside directors are responsible for providing unbiased perspectives on the board's policies.
| KunChieh Lin | Mang Department | Profile | |
| Huangzhang Huang | Director | Profile | |
| Hongduan Lin | Independent Director | Profile | |
| WeiHan Huang | Director | Profile | |
| Shicheng Ye | Director | Profile | |
| Chuanquan Wu | Independent Director | Profile | |
| Tianjin Zhang | Independent Director | Profile |