Delta Asia Correlations
| 6762 Stock | TWD 273.00 1.50 0.55% |
The current 90-days correlation between Delta Asia International and StShine Optical Co is 0.16 (i.e., Average diversification). The correlation of Delta Asia 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.
Delta Asia Correlation With Market
Significant diversification
The correlation between Delta Asia International and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delta Asia International and DJI in the same portfolio, assuming nothing else is changed.
Delta |
The ability to find closely correlated positions to Delta Asia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Delta Asia 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 Delta Asia - 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 Delta Asia International to buy it.
Moving together with Delta Stock
| 0.74 | 3218 | Universal Vision Bio | PairCorr |
| 0.68 | 4104 | Excelsior Medical | PairCorr |
| 0.68 | 6747 | Brighten Optix | PairCorr |
| 0.74 | 4155 | Ok Biotech | PairCorr |
| 0.62 | 2474 | Catcher Technology | PairCorr |
| 0.86 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against Delta Stock
| 0.55 | 3008 | LARGAN Precision | PairCorr |
| 0.55 | 6510 | Chunghwa Precision Test | PairCorr |
| 0.47 | 4126 | Pacific Hospital Supply | PairCorr |
| 0.45 | 6669 | Wiwynn Corp | PairCorr |
| 0.39 | 5269 | Asmedia Technology | PairCorr |
| 0.33 | 2454 | MediaTek | PairCorr |
Related Correlations Analysis
| 0.66 | 0.88 | -0.11 | -0.59 | 1565 | ||
| 0.66 | 0.53 | 0.23 | -0.19 | 4107 | ||
| 0.88 | 0.53 | -0.13 | -0.49 | 4129 | ||
| -0.11 | 0.23 | -0.13 | 0.17 | 4105 | ||
| -0.59 | -0.19 | -0.49 | 0.17 | 1733 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Delta Stock performing well and Delta Asia 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 Delta Asia'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 1565 | 1.38 | (0.18) | 0.00 | (0.73) | 0.00 | 3.07 | 11.69 | |||
| 4107 | 0.60 | (0.05) | 0.00 | (0.25) | 0.00 | 1.22 | 4.44 | |||
| 4129 | 0.67 | (0.07) | 0.00 | 1.85 | 0.00 | 1.66 | 4.27 | |||
| 4105 | 0.39 | 0.03 | (0.10) | 1.11 | 0.45 | 0.94 | 2.57 | |||
| 1733 | 0.76 | 0.08 | (0.01) | (1.76) | 0.85 | 2.28 | 5.06 |
Delta Asia 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 Delta Asia stock to make a market-neutral strategy. Peer analysis of Delta Asia could also be used in its relative valuation, which is a method of valuing Delta Asia by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |