Mortech Correlations

7419 Stock

TWD 18.15 0.05 0.27%

The current 90-days correlation between Mortech and Yjn CoLtd is 0.12 (i.e., Average diversification). The correlation of Mortech 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.

Mortech Correlation With Market

Significant diversification

The correlation between Mortech and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mortech and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Mortech Stock

0.48

5309

Sysgration

Pair Corr

Related Correlations Analysis

	3191	3623	6210	5228	3115	9912	3593	6246	4587	6226
3191		0.03	0.5	0.04	-0.64	0.51	0.59	-0.14	0.14	0.49	3191
3623	0.03		0.47	0.82	-0.27	0.31	0.46	-0.16	-0.46	0.52	3623
6210	0.5	0.47		0.57	-0.64	0.58	0.66	-0.24	-0.21	0.71	6210
5228	0.04	0.82	0.57		-0.34	0.17	0.41	-0.23	-0.35	0.33	5228
3115	-0.64	-0.27	-0.64	-0.34		-0.43	-0.69	0.43	-0.09	-0.49	3115
9912	0.51	0.31	0.58	0.17	-0.43		0.72	0.11	-0.31	0.73	9912
3593	0.59	0.46	0.66	0.41	-0.69	0.72		-0.11	-0.16	0.7	3593
6246	-0.14	-0.16	-0.24	-0.23	0.43	0.11	-0.11		-0.11	0.03	6246
4587	0.14	-0.46	-0.21	-0.35	-0.09	-0.31	-0.16	-0.11		-0.4	4587
6226	0.49	0.52	0.71	0.33	-0.49	0.73	0.7	0.03	-0.4		6226
	3191	3623	6210	5228	3115	9912	3593	6246	4587	6226

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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

5228	+ 0.82	3623
6226	+ 0.73	9912
3593	+ 0.72	9912
6226	+ 0.71	6210
6226	+ 0.7	3593
3593	+ 0.66	6210

High negative correlations

3593	- 0.69	3115
3115	- 0.64	6210
3115	- 0.64	3191
6226	- 0.49	3115
4587	- 0.46	3623
9912	- 0.43	3115

Risk-Adjusted Indicators

There is a big difference between Mortech Stock performing well and Mortech 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 Mortech'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
3191	1.66	0.02	(0.01)	0.12	2.58	(2.02)	3.92	(4.00)	15.41
3623	2.30	0.50	0.22	0.69	1.71	(3.14)	9.95	(3.50)	15.43
6210	1.14	0.26	0.10	(1.50)	1.14	(1.51)	3.84	(2.50)	13.99
5228	2.86	0.50	0.24	0.56	1.68	(5.54)	9.88	(3.63)	14.55
3115	1.89	(0.25)	0.00	1.84	0.00	0.00	3.88	(3.85)	19.92
9912	0.68	(0.04)	0.00	(0.16)	0.00	0.00	1.65	(1.25)	6.17
3593	3.42	1.19	0.36	146.97	1.89	(6.40)	5.71	(3.35)	91.92
6246	1.22	(0.19)	0.00	(0.25)	0.00	0.00	2.69	(2.26)	10.77
4587	1.26	(0.13)	0.00	0.52	0.00	0.00	2.50	(3.23)	6.06
6226	1.59	0.14	0.02	(0.57)	1.60	(2.23)	4.47	(2.99)	15.17

Be your own money manager

Our tools can tell you how much better you can do entering a position in Mortech 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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