CoAsia Microelectronics Correlations
| 8096 Stock | TWD 61.00 4.90 7.44% |
The current 90-days correlation between CoAsia Microelectronics and SYN Tech Chem Pharm is 0.21 (i.e., Modest diversification). The correlation of CoAsia Microelectronics 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.
CoAsia Microelectronics Correlation With Market
Poor diversification
The correlation between CoAsia Microelectronics and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CoAsia Microelectronics and DJI in the same portfolio, assuming nothing else is changed.
CoAsia |
The ability to find closely correlated positions to CoAsia Microelectronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CoAsia Microelectronics 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 CoAsia Microelectronics - 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 CoAsia Microelectronics to buy it.
Moving together with CoAsia Stock
| 0.8 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.88 | 2454 | MediaTek | PairCorr |
| 0.73 | 2303 | United Microelectronics | PairCorr |
| 0.83 | 6415 | Silergy Corp Earnings Call This Week | PairCorr |
| 0.61 | 5347 | Vanguard International | PairCorr |
| 0.81 | 6770 | Powerchip Semiconductor | PairCorr |
| 0.61 | 3443 | Global Unichip Corp | PairCorr |
| 0.79 | 3711 | ASE Industrial Holding | PairCorr |
| 0.8 | 3508 | Ways Technical | PairCorr |
| 0.81 | 7728 | Enli Technology CoLtd | PairCorr |
| 0.72 | 5434 | Topco Scientific | PairCorr |
| 0.68 | 5523 | Fong Chien Construction | PairCorr |
| 0.81 | 1434 | Formosa Taffeta Earnings Call Tomorrow | PairCorr |
| 0.63 | 6652 | Eusol Biotech CoLtd | PairCorr |
| 0.66 | 2884 | ESUN Financial Holding | PairCorr |
| 0.78 | 6015 | Horizon Securities | PairCorr |
| 0.76 | 4533 | Shieh Yih Machinery | PairCorr |
Moving against CoAsia Stock
| 0.67 | 2881B | Fubon Financial Holding Earnings Call This Week | PairCorr |
| 0.57 | 2379 | Realtek Semiconductor | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between CoAsia Stock performing well and CoAsia Microelectronics 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 CoAsia Microelectronics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 6209 | 2.97 | (0.04) | 0.00 | (0.07) | 0.00 | 6.86 | 18.33 | |||
| 1777 | 0.56 | (0.14) | 0.00 | (1.74) | 0.00 | 1.10 | 3.03 | |||
| 6606 | 0.68 | 0.03 | (0.01) | (0.71) | 0.63 | 1.72 | 5.65 | |||
| 3073 | 2.54 | 0.06 | 0.01 | 0.13 | 2.87 | 9.96 | 19.16 | |||
| 2485 | 4.45 | 1.74 | 0.41 | 2.19 | 3.30 | 10.00 | 19.99 | |||
| 2412 | 0.47 | 0.05 | 0.02 | 0.44 | 0.47 | 1.15 | 2.99 | |||
| 00923 | 1.07 | 0.34 | 0.20 | (6.73) | 1.11 | 2.81 | 6.43 | |||
| 4714 | 1.62 | (0.06) | 0.00 | (8.48) | 0.00 | 3.90 | 9.75 |
Be your own money manager
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CoAsia Microelectronics Corporate Management
Elected by the shareholders, the CoAsia Microelectronics' board of directors comprises two types of representatives: CoAsia Microelectronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of CoAsia. The board's role is to monitor CoAsia Microelectronics' management team and ensure that shareholders' interests are well served. CoAsia Microelectronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, CoAsia Microelectronics' outside directors are responsible for providing unbiased perspectives on the board's policies.
| DongSoo Shin | Vice GM | Profile | |
| HeeJun Lee | Chairman CEO | Profile | |
| Robert Cheng | VP Fin | Profile | |
| PengCheng Wang | Head GM | Profile |