Hon Hai Correlations

HNHPF Stock

USD 10.75 0.23 2.09%

The current 90-days correlation between Hon Hai Precision and Corning Incorporated is 0.52 (i.e., Very weak diversification). The correlation of Hon Hai 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.

Hon Hai Correlation With Market

Average diversification

The correlation between Hon Hai Precision and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hon Hai Precision and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hon Pink Sheet

0.82	XOM	Exxon Mobil Corp	Pair Corr
0.84	AA	Alcoa Corp	Pair Corr
0.74	DD	Dupont De Nemours	Pair Corr
0.76	TRV	The Travelers Companies	Pair Corr

Moving against Hon Pink Sheet

0.8	JBL	Jabil Circuit	Pair Corr
0.78	AMZN	Amazon Inc	Pair Corr
0.76	VWAPY	Volkswagen AG Pref	Pair Corr
0.72	VWAGY	Volkswagen AG 110	Pair Corr
0.71	VLKAF	Volkswagen AG	Pair Corr
0.7	CLS	Celestica	Pair Corr
0.7	WMT	Walmart Earnings Call This Week	Pair Corr
0.69	VLKPF	Volkswagen AG VZO	Pair Corr
0.5	FLEX	Flex	Pair Corr
0.45	GLW	Corning Incorporated	Pair Corr
0.4	ACN	Accenture plc	Pair Corr
0.87	BA	Boeing	Pair Corr
0.59	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.55	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.55	JPM	JPMorgan Chase	Pair Corr
0.53	IBM	International Business	Pair Corr
0.5	PFE	Pfizer Inc	Pair Corr
0.38	T	ATT Inc Aggressive Push	Pair Corr
0.34	GE	GE Aerospace Sell-off Trend	Pair Corr

Related Correlations Analysis

	ASAAF	ALPE	APELY	BMNR	AAIRF	OUST	KOPN	VICR	FN	NEON
ASAAF		-0.36	0.47	0.42	0.07	-0.36	-0.74	0.53	0.37	-0.69	ASAAF
ALPE	-0.36		0.07	-0.11	-0.39	-0.07	0.45	-0.24	-0.37	0.52	ALPE
APELY	0.47	0.07		0.46	0.03	-0.16	-0.23	0.24	0.13	-0.17	APELY
BMNR	0.42	-0.11	0.46		-0.2	-0.01	-0.12	0.09	-0.01	-0.05	BMNR
AAIRF	0.07	-0.39	0.03	-0.2		-0.14	-0.09	0.24	0.33	-0.4	AAIRF
OUST	-0.36	-0.07	-0.16	-0.01	-0.14		0.29	-0.36	-0.19	0.48	OUST
KOPN	-0.74	0.45	-0.23	-0.12	-0.09	0.29		-0.44	-0.56	0.81	KOPN
VICR	0.53	-0.24	0.24	0.09	0.24	-0.36	-0.44		0.78	-0.39	VICR
FN	0.37	-0.37	0.13	-0.01	0.33	-0.19	-0.56	0.78		-0.49	FN
NEON	-0.69	0.52	-0.17	-0.05	-0.4	0.48	0.81	-0.39	-0.49		NEON
	ASAAF	ALPE	APELY	BMNR	AAIRF	OUST	KOPN	VICR	FN	NEON

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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

NEON	+ 0.81	KOPN
FN	+ 0.78	VICR
VICR	+ 0.53	ASAAF
NEON	+ 0.52	ALPE
NEON	+ 0.48	OUST
APELY	+ 0.47	ASAAF

High negative correlations

KOPN	- 0.74	ASAAF
NEON	- 0.69	ASAAF
FN	- 0.56	KOPN
NEON	- 0.49	FN
VICR	- 0.44	KOPN
NEON	- 0.4	AAIRF

Risk-Adjusted Indicators

There is a big difference between Hon Pink Sheet performing well and Hon Hai 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 Hon Hai'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
ASAAF	1.14	(0.59)	0.00	(0.51)	0.00	0.00	0.00	0.00	38.12
ALPE	2.98	1.51	0.00	(1.69)	0.00	0.00	0.00	0.00	100.00
APELY	0.87	(0.05)	0.00	0.25	0.00	0.00	3.99	(2.93)	14.30
BMNR	9.50	1.58	0.12	(1.14)	9.45	(16.52)	23.33	(16.22)	100.37
AAIRF	5.84	(0.01)	0.00	(0.01)	5.85	(10.71)	15.38	(12.50)	30.00
OUST	4.97	0.55	0.11	(1.14)	4.78	(6.20)	16.22	(7.46)	45.80
KOPN	5.38	1.43	0.27	0.91	4.64	(6.79)	13.95	(8.37)	34.91
VICR	3.07	(0.16)	0.00	(0.12)	0.00	0.00	6.53	(6.44)	27.83
FN	2.79	(0.21)	0.00	(1.91)	0.00	0.00	4.23	(6.81)	29.01
NEON	3.41	0.69	0.16	0.25	4.08	(3.74)	7.20	(7.59)	24.50

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hon Hai 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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