Taiwan Cogeneration Correlations
| 8926 Stock | TWD 41.20 0.05 0.12% |
The current 90-days correlation between Taiwan Cogeneration Corp and Great Taipei Gas is 0.27 (i.e., Modest diversification). The correlation of Taiwan Cogeneration 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.
Taiwan Cogeneration Correlation With Market
Significant diversification
The correlation between Taiwan Cogeneration Corp and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taiwan Cogeneration Corp and DJI in the same portfolio, assuming nothing else is changed.
Taiwan |
The ability to find closely correlated positions to Taiwan Cogeneration could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taiwan Cogeneration 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 Taiwan Cogeneration - 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 Taiwan Cogeneration Corp to buy it.
Moving together with Taiwan Stock
| 0.7 | 2072 | Century Wind Power | PairCorr |
| 0.8 | 6763 | Green World Fintech | PairCorr |
| 0.86 | 4768 | Ingentec | PairCorr |
| 0.69 | 4546 | Chaheng Precision | PairCorr |
Moving against Taiwan Stock
| 0.44 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.36 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.34 | 0053 | YuantaP shares Taiwan | PairCorr |
Related Correlations Analysis
| 0.35 | 0.35 | 0.24 | -0.17 | 9908 | ||
| 0.35 | 0.86 | 0.19 | 0.18 | 1101 | ||
| 0.35 | 0.86 | 0.24 | 0.18 | 2886 | ||
| 0.24 | 0.19 | 0.24 | 0.08 | 2892 | ||
| -0.17 | 0.18 | 0.18 | 0.08 | 2412 | ||
| 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 Taiwan Stock performing well and Taiwan Cogeneration 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 Taiwan Cogeneration'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 9908 | 0.25 | 0.00 | (0.18) | 0.05 | 0.27 | 0.66 | 1.33 | |||
| 1101 | 0.63 | (0.02) | 0.00 | 0.38 | 0.00 | 1.50 | 4.54 | |||
| 2886 | 0.55 | (0.05) | 0.00 | (0.13) | 0.00 | 1.16 | 3.45 | |||
| 2892 | 0.69 | 0.04 | (0.04) | (0.74) | 0.66 | 1.65 | 5.62 | |||
| 2412 | 0.34 | 0.01 | (0.11) | 0.25 | 0.34 | 0.82 | 2.02 |
Taiwan Cogeneration 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 Taiwan Cogeneration stock to make a market-neutral strategy. Peer analysis of Taiwan Cogeneration could also be used in its relative valuation, which is a method of valuing Taiwan Cogeneration by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Taiwan Cogeneration Corporate Management
Elected by the shareholders, the Taiwan Cogeneration's board of directors comprises two types of representatives: Taiwan Cogeneration inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Taiwan. The board's role is to monitor Taiwan Cogeneration's management team and ensure that shareholders' interests are well served. Taiwan Cogeneration'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, Taiwan Cogeneration's outside directors are responsible for providing unbiased perspectives on the board's policies.
| WanJane Chen | Ma Department | Profile | |
| ZhiJie Hsu | Ma Department | Profile | |
| Jay Hsu | Mang Department | Profile | |
| ChinFa Tsai | President | Profile | |
| Chia Chang | Mang TCC | Profile | |
| ShuShen Lin | Vice Mang | Profile | |
| Jia Cai | Sec Governance | Profile |