FOSITEK P Correlations

6805 Stock

1,425 25.00 1.79%

The current 90-days correlation between FOSITEK P and Auras Technology Co is 0.33 (i.e., Weak diversification). The correlation of FOSITEK P 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.

FOSITEK P Correlation With Market

Good diversification

The correlation between FOSITEK P and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FOSITEK P and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with FOSITEK Stock

0.74	2330	Taiwan Semiconductor	Pair Corr
0.8	2317	Hon Hai Precision	Pair Corr
0.72	6505	Formosa Petrochemical Earnings Call This Week	Pair Corr
0.72	2308	Delta Electronics	Pair Corr
0.61	1303	Nan Ya Plastics	Pair Corr
0.76	0053	YuantaP shares Taiwan	Pair Corr
0.75	0050	YuantaP shares Taiwan	Pair Corr
0.75	0051	YuantaP shares Taiwan	Pair Corr
0.76	0057	Fubon MSCI Taiwan	Pair Corr

Moving against FOSITEK Stock

0.35

2454

MediaTek Earnings Call Today

Pair Corr

Related Correlations Analysis

	3324	3005	8210	2354	2353	2377	9105	6789	6515	4749
3324		0.28	0.73	0.04	-0.01	-0.89	0.56	0.18	0.91	0.69	3324
3005	0.28		0.16	0.23	0.02	-0.52	-0.4	0.87	0.48	0.82	3005
8210	0.73	0.16		0.32	-0.2	-0.63	0.36	-0.01	0.67	0.46	8210
2354	0.04	0.23	0.32		-0.37	0.04	-0.2	0.25	-0.01	0.08	2354
2353	-0.01	0.02	-0.2	-0.37		0.07	0.18	0.1	0.0	0.02	2353
2377	-0.89	-0.52	-0.63	0.04	0.07		-0.32	-0.35	-0.97	-0.87	2377
9105	0.56	-0.4	0.36	-0.2	0.18	-0.32		-0.48	0.4	0.0	9105
6789	0.18	0.87	-0.01	0.25	0.1	-0.35	-0.48		0.33	0.69	6789
6515	0.91	0.48	0.67	-0.01	0.0	-0.97	0.4	0.33		0.86	6515
4749	0.69	0.82	0.46	0.08	0.02	-0.87	0.0	0.69	0.86		4749
	3324	3005	8210	2354	2353	2377	9105	6789	6515	4749

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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

6515	+ 0.91	3324
6789	+ 0.87	3005
4749	+ 0.86	6515
4749	+ 0.82	3005
8210	+ 0.73	3324
4749	+ 0.69	3324

High negative correlations

6515	- 0.97	2377
2377	- 0.89	3324
4749	- 0.87	2377
2377	- 0.63	8210
2377	- 0.52	3005
6789	- 0.48	9105

Risk-Adjusted Indicators

There is a big difference between FOSITEK Stock performing well and FOSITEK P 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 FOSITEK P'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
3324	2.29	0.77	0.28	(1.35)	1.71	(3.01)	6.15	(3.37)	15.16
3005	1.77	0.28	0.07	(0.61)	1.85	(2.27)	4.67	(2.55)	13.19
8210	2.56	0.88	0.34	1.75	1.75	(3.20)	7.43	(2.94)	15.09
2354	1.66	0.17	0.05	1.09	1.71	(2.08)	3.40	(2.73)	15.97
2353	1.30	(0.06)	0.00	0.33	0.00	0.00	2.93	(3.04)	14.49
2377	1.23	(0.30)	0.00	0.59	0.00	0.00	1.86	(3.39)	9.32
9105	1.34	0.10	(0.01)	(0.40)	1.27	(1.73)	2.93	(2.10)	8.95
6789	1.98	0.21	0.01	(0.15)	2.19	(2.86)	5.62	(3.16)	15.33
6515	3.10	1.45	0.49	(1.17)	1.69	(4.02)	9.81	(3.59)	16.75
4749	1.91	0.53	0.20	(1.26)	1.57	(2.33)	4.38	(2.82)	13.72

FOSITEK P 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 FOSITEK P stock to make a market-neutral strategy. Peer analysis of FOSITEK P could also be used in its relative valuation, which is a method of valuing FOSITEK P by comparing valuation metrics with similar companies.

Auras Technology Co Getac Technology Corp Chenbro Micom Co Foxconn Technology Co Acer Inc Micro Star International Co Cal Comp Electronics Public VisEra Technologies Co WinWay Technology Co Advanced Echem Materials American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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