Provision Information Correlations

6590 Stock

TWD 74.00 0.00 0.00%

The current 90-days correlation between Provision Information and Li Kang Biomedical is -0.07 (i.e., Good diversification). The correlation of Provision Information 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.

Provision Information Correlation With Market

Good diversification

The correlation between Provision Information CoLtd and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Provision Information CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Provision Stock

0.76	4991	GCS Holdings	Pair Corr
0.76	2597	Ruentex Engineering	Pair Corr

Moving against Provision Stock

0.85	8072	AV Tech Corp	Pair Corr
0.84	2538	Kee Tai Properties	Pair Corr
0.8	6231	Insyde Software	Pair Corr
0.79	5356	Sirtec International	Pair Corr
0.78	5508	Yungshin Construction	Pair Corr
0.7	5263	Brogent Technologies	Pair Corr
0.53	0051	YuantaP shares Taiwan	Pair Corr
0.51	5211	Penpower Technology	Pair Corr
0.5	1416	Kwong Fong Industries	Pair Corr
0.39	2545	Huang Hsiang Construction	Pair Corr

Related Correlations Analysis

	6242	4772	2540	4745	4116	2597	1799	1513
6242		-0.61	-0.37	0.55	0.65	-0.65	0.49	0.62	6242
4772	-0.61		0.36	-0.28	-0.6	0.47	-0.21	-0.46	4772
2540	-0.37	0.36		-0.3	-0.35	0.5	-0.14	-0.31	2540
4745	0.55	-0.28	-0.3		0.83	-0.81	0.9	0.61	4745
4116	0.65	-0.6	-0.35	0.83		-0.81	0.73	0.68	4116
2597	-0.65	0.47	0.5	-0.81	-0.81		-0.75	-0.68	2597
1799	0.49	-0.21	-0.14	0.9	0.73	-0.75		0.5	1799
1513	0.62	-0.46	-0.31	0.61	0.68	-0.68	0.5		1513
	6242	4772	2540	4745	4116	2597	1799	1513

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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

1799	+ 0.9	4745
4116	+ 0.83	4745
1799	+ 0.73	4116
1513	+ 0.68	4116
4116	+ 0.65	6242
1513	+ 0.62	6242

High negative correlations

2597	- 0.81	4116
2597	- 0.81	4745
1799	- 0.75	2597
1513	- 0.68	2597
2597	- 0.65	6242
4772	- 0.61	6242

Risk-Adjusted Indicators

There is a big difference between Provision Stock performing well and Provision Information 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 Provision Information'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
6242	0.62	(0.04)	0.00	(1.12)	0.00	0.00	1.16	(1.36)	6.08
4772	1.89	0.64	0.33	2.17	1.13	(2.60)	5.88	(2.28)	13.68
2540	1.63	(0.02)	(0.03)	0.03	2.33	(1.75)	3.13	(4.50)	17.29
4745	0.70	(0.18)	0.00	(4.69)	0.00	0.00	1.22	(1.81)	5.17
4116	0.80	(0.20)	0.00	0.84	0.00	0.00	1.46	(1.95)	7.48
2597	1.28	0.14	0.04	1.88	1.28	(1.61)	2.91	(2.29)	6.78
1799	3.31	(0.75)	0.00	8.33	0.00	0.00	7.81	(9.64)	19.94
1513	1.36	(0.04)	0.00	0.29	0.00	0.00	2.80	(2.51)	7.14

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

Li Kang Biomedical Taiwan Speciality Chemicals JSL Construction Development Cowealth Medical Holding BenQ Medical Technology Ruentex Engineering Construction Easywell Biomedicals Chung Hsin Electric Machinery American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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