Skytech Correlations

6937 Stock

229.50 9.50 4.32%

The current 90-days correlation between Skytech and Gallant Micro Machining is 0.4 (i.e., Very weak diversification). The correlation of Skytech 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.

Skytech Correlation With Market

Very good diversification

The correlation between Skytech and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Skytech and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Skytech Stock

0.64

2412

Chunghwa Telecom

Pair Corr

Moving against Skytech Stock

0.85	2451	Transcend Information	Pair Corr
0.82	4706	Tah Kong Chemical	Pair Corr
0.81	6505	Formosa Petrochemical	Pair Corr
0.81	1303	Nan Ya Plastics	Pair Corr
0.75	2643	Soonest Express	Pair Corr
0.73	1326	Formosa Chemicals Fibre	Pair Corr
0.73	2008	Kao Hsiung Chang	Pair Corr
0.66	1301	Formosa Plastics Corp	Pair Corr
0.66	8390	Jiin Yeeh Ding	Pair Corr
0.64	1730	Farcent Enterprise	Pair Corr
0.63	2360	Chroma ATE	Pair Corr
0.62	3037	Unimicron Technology Corp	Pair Corr
0.51	1587	Cryomax Cooling System	Pair Corr
0.46	6127	Leatec Fine Ceramics	Pair Corr
0.45	6139	LK Engineering	Pair Corr
0.42	2303	United Microelectronics	Pair Corr
0.38	1312A	Grand Pacific Petroc	Pair Corr
0.37	2882	Cathay Financial Holding	Pair Corr
0.81	3666	Optivision Technology	Pair Corr
0.75	1437	GTM Holdings Corp	Pair Corr
0.71	4950	Golden Win International Split	Pair Corr
0.7	1434	Formosa Taffeta	Pair Corr
0.68	3522	Toplus Global	Pair Corr
0.68	8299	Phison Electronics	Pair Corr
0.68	2891B	CTBC Financial Holding	Pair Corr
0.64	6770	Powerchip Semiconductor	Pair Corr
0.62	6624	Ever Clear Environme	Pair Corr
0.59	3163	Browave	Pair Corr

Related Correlations Analysis

	6640	6138	6739	4961	3592	5443	8131	2351	6182	6719
6640		-0.33	0.9	0.84	0.89	0.91	-0.51	0.09	0.39	0.41	6640
6138	-0.33		-0.41	-0.26	-0.29	-0.3	-0.09	0.56	-0.27	-0.18	6138
6739	0.9	-0.41		0.82	0.85	0.91	-0.49	-0.01	0.41	0.45	6739
4961	0.84	-0.26	0.82		0.97	0.93	-0.74	0.19	0.55	0.37	4961
3592	0.89	-0.29	0.85	0.97		0.94	-0.7	0.18	0.5	0.36	3592
5443	0.91	-0.3	0.91	0.93	0.94		-0.71	0.18	0.51	0.37	5443
8131	-0.51	-0.09	-0.49	-0.74	-0.7	-0.71		-0.37	-0.24	-0.21	8131
2351	0.09	0.56	-0.01	0.19	0.18	0.18	-0.37		0.33	-0.4	2351
6182	0.39	-0.27	0.41	0.55	0.5	0.51	-0.24	0.33		-0.14	6182
6719	0.41	-0.18	0.45	0.37	0.36	0.37	-0.21	-0.4	-0.14		6719
	6640	6138	6739	4961	3592	5443	8131	2351	6182	6719

Please upgrade your account to get full access to Macroaxis premium features

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

3592	+ 0.97	4961
5443	+ 0.94	3592
5443	+ 0.93	4961
5443	+ 0.91	6640
5443	+ 0.91	6739
6739	+ 0.9	6640

High negative correlations

8131	- 0.74	4961
8131	- 0.71	5443
8131	- 0.7	3592
8131	- 0.51	6640
8131	- 0.49	6739
6739	- 0.41	6138

Risk-Adjusted Indicators

There is a big difference between Skytech Stock performing well and Skytech 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 Skytech'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
6640	2.09	(0.46)	0.00	(0.53)	0.00	0.00	4.49	(4.37)	14.91
6138	1.51	(0.12)	0.00	(0.04)	0.00	0.00	2.66	(3.68)	16.34
6739	2.76	(0.30)	0.00	(0.26)	0.00	0.00	5.91	(4.39)	15.36
4961	1.15	(0.30)	0.00	(1.54)	0.00	0.00	2.89	(2.29)	9.33
3592	1.48	(0.41)	0.00	(0.73)	0.00	0.00	3.11	(2.64)	8.32
5443	1.87	(0.43)	0.00	(0.70)	0.00	0.00	3.19	(4.44)	11.28
8131	3.27	1.04	0.33	3.86	2.54	(4.30)	9.87	(3.62)	19.82
2351	1.96	(0.07)	0.00	(0.10)	0.00	0.00	3.82	(4.15)	15.98
6182	2.02	0.01	(0.02)	0.16	2.15	(2.82)	5.34	(3.91)	14.67
6719	1.45	(0.14)	0.00	(0.81)	0.00	0.00	3.09	(2.61)	13.54

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

Gallant Micro Machining Anpec Electronics Grade Upon Technology Fitipower Integrated Technology Raydium Semi Conductor Gallant Precision Machining Formosa Advanced Technologies SDI Corp Wafer Works uPI Semiconductor Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC