Nextronics Engineering Correlations

8147 Stock

TWD 106.00 0.50 0.47%

The current 90-days correlation between Nextronics Engineering and Taisol Electronics Co is 0.07 (i.e., Significant diversification). The correlation of Nextronics Engineering 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.

Nextronics Engineering Correlation With Market

Average diversification

The correlation between Nextronics Engineering and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nextronics Engineering and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nextronics Stock

0.72	3008	LARGAN Precision	Pair Corr
0.86	8069	E Ink Holdings	Pair Corr
0.89	2409	AU Optronics	Pair Corr
0.69	3481	Innolux Corp	Pair Corr
0.67	2882A	Cathay Financial Holding	Pair Corr

Moving against Nextronics Stock

0.68	2327	Yageo Corp	Pair Corr
0.48	2881A	Fubon Financial Holding	Pair Corr
0.45	3163	Browave	Pair Corr
0.36	2474	Catcher Technology	Pair Corr
0.92	6505	Formosa Petrochemical	Pair Corr
0.78	4950	Golden Win International Split	Pair Corr
0.78	2451	Transcend Information	Pair Corr
0.74	3666	Optivision Technology	Pair Corr
0.7	2891B	CTBC Financial Holding	Pair Corr
0.68	1434	Formosa Taffeta	Pair Corr
0.63	4706	Tah Kong Chemical	Pair Corr
0.51	1730	Farcent Enterprise	Pair Corr
0.46	8299	Phison Electronics	Pair Corr
0.32	3037	Unimicron Technology Corp	Pair Corr
0.31	6770	Powerchip Semiconductor	Pair Corr
0.77	2360	Chroma ATE	Pair Corr
0.53	2643	Soonest Express	Pair Corr
0.49	6624	Ever Clear Environme	Pair Corr
0.47	1437	GTM Holdings Corp	Pair Corr

Related Correlations Analysis

	3338	6272	6417	4909	6126	8183	3624	6124	3310
3338		0.3	0.69	0.51	-0.18	-0.64	-0.8	0.87	-0.34	3338
6272	0.3		0.34	-0.22	0.0	0.1	-0.56	0.26	-0.52	6272
6417	0.69	0.34		0.28	-0.23	-0.53	-0.74	0.58	-0.32	6417
4909	0.51	-0.22	0.28		0.05	-0.49	-0.21	0.57	0.31	4909
6126	-0.18	0.0	-0.23	0.05		0.24	0.08	-0.18	0.22	6126
8183	-0.64	0.1	-0.53	-0.49	0.24		0.37	-0.55	0.25	8183
3624	-0.8	-0.56	-0.74	-0.21	0.08	0.37		-0.67	0.49	3624
6124	0.87	0.26	0.58	0.57	-0.18	-0.55	-0.67		-0.17	6124
3310	-0.34	-0.52	-0.32	0.31	0.22	0.25	0.49	-0.17		3310
	3338	6272	6417	4909	6126	8183	3624	6124	3310

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

6124	+ 0.87	3338
6417	+ 0.69	3338
6124	+ 0.58	6417
6124	+ 0.57	4909
4909	+ 0.51	3338
3310	+ 0.49	3624

High negative correlations

3624	- 0.8	3338
3624	- 0.74	6417
6124	- 0.67	3624
8183	- 0.64	3338
3624	- 0.56	6272
6124	- 0.55	8183

Risk-Adjusted Indicators

There is a big difference between Nextronics Stock performing well and Nextronics Engineering 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 Nextronics Engineering'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
3338	1.10	(0.33)	0.00	(0.61)	0.00	0.00	1.76	(2.80)	6.23
6272	1.94	(0.18)	0.00	(3.27)	0.00	0.00	4.04	(3.65)	15.61
6417	1.00	(0.15)	0.00	(0.27)	0.00	0.00	2.42	(2.26)	7.77
4909	2.59	0.22	0.07	0.34	2.65	(3.10)	9.85	(4.26)	16.93
6126	1.68	0.16	0.05	0.38	1.99	(2.17)	4.63	(3.22)	18.14
8183	1.94	0.11	0.04	0.21	2.33	(2.24)	4.73	(3.97)	17.66
3624	3.16	0.53	0.14	20.12	2.86	(3.61)	9.90	(5.04)	16.95
6124	1.01	(0.07)	0.00	0.36	0.00	0.00	3.00	(2.16)	7.97
3310	1.20	0.43	0.27	2.77	0.73	(1.83)	3.76	(1.95)	7.82

Be your own money manager

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