E Ink Correlations
| 8069 Stock | TWD 280.50 4.00 1.45% |
The current 90-days correlation between E Ink Holdings and Unimicron Technology Corp is 0.07 (i.e., Significant diversification). The correlation of E Ink 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.
E Ink Correlation With Market
Significant diversification
The correlation between E Ink Holdings and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding E Ink Holdings and DJI in the same portfolio, assuming nothing else is changed.
8069 |
The ability to find closely correlated positions to E Ink could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace E Ink 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 E Ink - 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 E Ink Holdings to buy it.
Moving together with 8069 Stock
| 0.84 | 2317 | Hon Hai Precision | PairCorr |
| 0.84 | 4938 | Pegatron Corp | PairCorr |
| 0.72 | 2409 | AU Optronics | PairCorr |
| 0.63 | 3481 | Innolux Corp | PairCorr |
| 0.78 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against 8069 Stock
| 0.87 | 2881A | Fubon Financial Holding | PairCorr |
| 0.85 | 2891 | CTBC Financial Holding | PairCorr |
| 0.75 | 2882B | Cathay Financial Holding | PairCorr |
| 0.67 | 3008 | LARGAN Precision | PairCorr |
| 0.59 | 2454 | MediaTek | PairCorr |
| 0.51 | 2308 | Delta Electronics | PairCorr |
| 0.45 | 2882A | Cathay Financial Holding | PairCorr |
| 0.44 | 2881B | Fubon Financial Holding | PairCorr |
| 0.39 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.37 | 2603 | Evergreen Marine Corp | PairCorr |
Related Correlations Analysis
| 0.73 | -0.59 | 0.03 | -0.84 | 3037 | ||
| 0.73 | -0.5 | -0.04 | -0.82 | 3481 | ||
| -0.59 | -0.5 | 0.4 | 0.69 | 2308 | ||
| 0.03 | -0.04 | 0.4 | 0.23 | 3034 | ||
| -0.84 | -0.82 | 0.69 | 0.23 | 3008 | ||
| 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
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Risk-Adjusted Indicators
There is a big difference between 8069 Stock performing well and E Ink 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 E Ink'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 3037 | 1.53 | (0.23) | 0.00 | 3.23 | 0.00 | 2.91 | 11.69 | |||
| 3481 | 1.41 | (0.21) | 0.00 | 2.39 | 0.00 | 2.94 | 10.50 | |||
| 2308 | 1.34 | 0.17 | 0.02 | (0.26) | 1.56 | 3.23 | 8.17 | |||
| 3034 | 1.05 | (0.01) | (0.07) | (0.03) | 1.30 | 2.50 | 5.34 | |||
| 3008 | 1.42 | 0.22 | 0.08 | (1.73) | 1.26 | 3.68 | 9.43 |
E Ink 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 E Ink stock to make a market-neutral strategy. Peer analysis of E Ink could also be used in its relative valuation, which is a method of valuing E Ink by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
E Ink Corporate Management
Elected by the shareholders, the E Ink's board of directors comprises two types of representatives: E Ink inside directors who are chosen from within the company, and outside directors, selected externally and held independent of 8069. The board's role is to monitor E Ink's management team and ensure that shareholders' interests are well served. E Ink'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, E Ink's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Hao Lee | Chairman CEO | Profile | |
| Ian French | VP CTO | Profile | |
| Suzanne Chou | Assistant Division | Profile | |
| Luke Chen | Deputy General Manager-Operation Center | Profile | |
| Paul Apen | Chief Officer | Profile | |
| Lloyd Chen | Assistant General Manager-Finance Center | Profile |