Taiwan Fu Correlations
| 9924 Stock | TWD 52.10 0.10 0.19% |
The current 90-days correlation between Taiwan Fu Hsing and Taiwan Shin Kong is 0.22 (i.e., Modest diversification). The correlation of Taiwan Fu 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 Fu Correlation With Market
Good diversification
The correlation between Taiwan Fu Hsing and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taiwan Fu Hsing and DJI in the same portfolio, assuming nothing else is changed.
Taiwan |
The ability to find closely correlated positions to Taiwan Fu 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 Fu 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 Fu - 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 Fu Hsing to buy it.
Moving together with Taiwan Stock
| 0.72 | 2409 | AU Optronics | PairCorr |
| 0.85 | 6015 | Horizon Securities | PairCorr |
| 0.71 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against Taiwan Stock
Related Correlations Analysis
| 0.69 | 0.21 | 0.27 | 0.58 | 9925 | ||
| 0.69 | 0.43 | 0.36 | 0.61 | 9917 | ||
| 0.21 | 0.43 | -0.14 | -0.15 | 9904 | ||
| 0.27 | 0.36 | -0.14 | 0.6 | 9939 | ||
| 0.58 | 0.61 | -0.15 | 0.6 | 9941 | ||
| 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
|
Risk-Adjusted Indicators
There is a big difference between Taiwan Stock performing well and Taiwan Fu 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 Fu'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 9925 | 0.27 | (0.04) | 0.00 | (0.60) | 0.00 | 0.49 | 2.54 | |||
| 9917 | 1.16 | (0.13) | 0.00 | 2.49 | 0.00 | 2.31 | 8.23 | |||
| 9904 | 1.44 | (0.01) | 0.00 | 0.11 | 0.00 | 3.59 | 9.93 | |||
| 9939 | 0.93 | 0.06 | 0.00 | 4.27 | 1.10 | 1.95 | 5.22 | |||
| 9941 | 1.51 | (0.32) | 0.00 | (3.60) | 0.00 | 2.50 | 16.53 |
Taiwan Fu 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 Fu stock to make a market-neutral strategy. Peer analysis of Taiwan Fu could also be used in its relative valuation, which is a method of valuing Taiwan Fu by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Taiwan Fu Corporate Management
Elected by the shareholders, the Taiwan Fu's board of directors comprises two types of representatives: Taiwan Fu 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 Fu's management team and ensure that shareholders' interests are well served. Taiwan Fu'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 Fu's outside directors are responsible for providing unbiased perspectives on the board's policies.
| YenFen Tsai | Ma Department | Profile | |
| ChiaCheng Lin | Deputy Dept | Profile | |
| JungHo Chu | Group Director | Profile | |
| KuoWei Li | Chief Officer | Profile | |
| TengTsai Lin | Group Pres | Profile | |
| ChienKun Chen | Pres Director | Profile | |
| ICheng Lin | Chief Culture | Profile |