PharmaEngine Correlations
| 4162 Stock | TWD 93.70 1.60 1.68% |
The correlation of PharmaEngine 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PharmaEngine moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PharmaEngine moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Modest diversification
The correlation between PharmaEngine and NYA is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PharmaEngine and NYA in the same portfolio, assuming nothing else is changed.
PharmaEngine |
The ability to find closely correlated positions to PharmaEngine could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PharmaEngine 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 PharmaEngine - 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 PharmaEngine to buy it.
Moving together with PharmaEngine Stock
| 0.76 | 4743 | Oneness Biotech | PairCorr |
| 0.8 | 6589 | EirGenix | PairCorr |
| 0.72 | 6547 | Medigen Vaccine Biologics Earnings Call This Week | PairCorr |
| 0.89 | 4174 | OBI Pharma | PairCorr |
| 0.79 | 6541 | Tanvex BioPharma | PairCorr |
| 0.67 | 4142 | Adimmune Corp | PairCorr |
| 0.78 | 6763 | Green World Fintech | PairCorr |
Moving against PharmaEngine Stock
| 0.75 | 5515 | Chien Kuo Construction | PairCorr |
| 0.66 | 2534 | Hung Sheng Construction | PairCorr |
| 0.61 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.6 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.59 | 2547 | Radium Life Tech | PairCorr |
| 0.59 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.51 | 1605 | Walsin Lihwa Corp | PairCorr |
| 0.46 | 0051 | YuantaP shares Taiwan | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in PharmaEngine 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.Did you try this?
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PharmaEngine Corporate Directors
PharmaEngine corporate directors refer to members of a PharmaEngine board of directors. The board of directors generally takes responsibility for the PharmaEngine's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of PharmaEngine's board members must vote for the resolution. The PharmaEngine board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Xiuji Zhang | Director | Profile | |
| Lin C | Director | Profile | |
| PoWu Gean | Director | Profile | |
| Yusheng Zhao | Director | Profile |
Already Invested in PharmaEngine?
The danger of trading PharmaEngine is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of PharmaEngine is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than PharmaEngine. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile PharmaEngine is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in PharmaEngine. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Stocks Directory module to find actively traded stocks across global markets.
Complementary Tools for PharmaEngine Stock analysis
When running PharmaEngine's price analysis, check to measure PharmaEngine's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy PharmaEngine is operating at the current time. Most of PharmaEngine's value examination focuses on studying past and present price action to predict the probability of PharmaEngine's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PharmaEngine's price. Additionally, you may evaluate how the addition of PharmaEngine to your portfolios can decrease your overall portfolio volatility.
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