Shin Ruenn Correlations

6186 Stock

TWD 56.20 0.60 1.08%

The current 90-days correlation between Shin Ruenn Development and Fortune Information Systems is -0.11 (i.e., Good diversification). The correlation of Shin Ruenn 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.

Shin Ruenn Correlation With Market

Average diversification

The correlation between Shin Ruenn Development 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 Shin Ruenn Development and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shin Stock

0.74	2542	Highwealth Construction Split	Pair Corr
0.75	2539	Sakura Development Split	Pair Corr
0.79	5206	Kunyue Development	Pair Corr
0.8	6171	Tacheng Real Estate	Pair Corr
0.74	9906	Hsin Ba Ba	Pair Corr
0.77	5871	Chailease Holding	Pair Corr
0.73	2705	Leofoo Development	Pair Corr

Moving against Shin Stock

0.72	2891B	CTBC Financial Holding	Pair Corr
0.72	0057	Fubon MSCI Taiwan	Pair Corr
0.7	0050	YuantaP shares Taiwan	Pair Corr
0.69	9136	Ju Teng International	Pair Corr
0.68	6101	Kwans International Co,	Pair Corr
0.68	2867	Mercuries Life Insurance	Pair Corr
0.68	0053	YuantaP shares Taiwan	Pair Corr
0.63	0051	YuantaP shares Taiwan	Pair Corr
0.6	2009	First Copper Technology	Pair Corr
0.56	6492	Senhwa Biosciences,	Pair Corr
0.55	2885	Yuanta Financial Holdings	Pair Corr
0.53	3036	WT Microelectronics	Pair Corr
0.53	1303	Nan Ya Plastics	Pair Corr
0.43	6709	Advagene Biopharma	Pair Corr
0.41	4950	Golden Win International Split	Pair Corr
0.37	6161	Jetway Information	Pair Corr

Related Correlations Analysis

	2468	2852	3570	4953	3521	2850	9935
2468		-0.49	0.74	-0.73	0.56	-0.47	0.52	2468
2852	-0.49		-0.55	0.17	-0.02	0.67	0.01	2852
3570	0.74	-0.55		-0.54	0.33	-0.31	0.17	3570
4953	-0.73	0.17	-0.54		-0.48	0.25	-0.67	4953
3521	0.56	-0.02	0.33	-0.48		0.07	0.41	3521
2850	-0.47	0.67	-0.31	0.25	0.07		-0.21	2850
9935	0.52	0.01	0.17	-0.67	0.41	-0.21		9935
	2468	2852	3570	4953	3521	2850	9935

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

3570	+ 0.74	2468
2850	+ 0.67	2852
3521	+ 0.56	2468
9935	+ 0.52	2468
9935	+ 0.41	3521
3521	+ 0.33	3570

High negative correlations

4953	- 0.73	2468
9935	- 0.67	4953
3570	- 0.55	2852
4953	- 0.54	3570
2852	- 0.49	2468
3521	- 0.48	4953

Risk-Adjusted Indicators

There is a big difference between Shin Stock performing well and Shin Ruenn 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 Shin Ruenn'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
2468	1.94	(0.38)	0.00	1.03	0.00	0.00	3.54	(4.70)	15.58
2852	0.57	0.14	0.13	(0.79)	0.54	(0.75)	1.93	(1.27)	5.25
3570	1.11	(0.29)	0.00	4.82	0.00	0.00	2.12	(2.72)	10.39
4953	1.74	0.23	0.09	(2.29)	1.89	(2.16)	4.29	(2.92)	14.55
3521	1.02	(0.03)	0.00	(0.07)	0.00	0.00	2.93	(2.44)	12.59
2850	0.98	0.21	0.14	(2.96)	0.86	(1.41)	3.00	(1.72)	7.85
9935	1.15	(0.03)	0.00	(0.05)	0.00	0.00	2.26	(3.15)	9.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shin Ruenn 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?

Run Portfolio Rebalancing Now

Portfolio Rebalancing

Analyze risk-adjusted returns against different time horizons to find asset-allocation targets

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC