CHIPMOS TECHADR Correlations
| CPIA Stock | EUR 30.20 1.00 3.42% |
The current 90-days correlation between CHIPMOS TECHADR 20 and Nagarro SE is 0.26 (i.e., Modest diversification). The correlation of CHIPMOS TECHADR 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.
CHIPMOS TECHADR Correlation With Market
Very good diversification
The correlation between CHIPMOS TECHADR 20 and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHIPMOS TECHADR 20 and DJI in the same portfolio, assuming nothing else is changed.
CHIPMOS |
The ability to find closely correlated positions to CHIPMOS TECHADR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CHIPMOS TECHADR 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 CHIPMOS TECHADR - 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 CHIPMOS TECHADR 20 to buy it.
Moving together with CHIPMOS Stock
| 0.7 | CFSL | Coca Cola FEMSA | PairCorr |
| 0.61 | 1KG | Kainos Group plc | PairCorr |
| 0.72 | BOX | Becton Dickinson | PairCorr |
| 0.64 | LTR | Loews Corp | PairCorr |
| 0.65 | GPE | GR Silver Mining | PairCorr |
| 0.64 | WFA | Weng Fine Art | PairCorr |
| 0.75 | KGHA | KGHM Polska Miedz | PairCorr |
Moving against CHIPMOS Stock
| 0.7 | AMD | Advanced Micro Devices | PairCorr |
| 0.62 | AMD | Advanced Micro Devices | PairCorr |
| 0.47 | 27J | Impinj Inc | PairCorr |
| 0.42 | 27J | Impinj Inc | PairCorr |
| 0.32 | RZH | SCOTT TECHNOLOGY | PairCorr |
Related Correlations Analysis
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