Taiwan Weighted Correlations

Indexes . Taiwan . 
Index . Taiwan Weighted
TWII Index   23,383  269.85  1.17%   
The current 90-days correlation between Taiwan Weighted and Davicom Semiconductor is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Taiwan Weighted moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taiwan Weighted moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
The ability to find closely correlated positions to Taiwan Weighted could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taiwan Weighted 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 Taiwan Weighted - 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 Taiwan Weighted to buy it.

Moving together with Taiwan Index

  0.982330 Taiwan SemiconductorPairCorr
  0.962317 Hon Hai PrecisionPairCorr
  0.92308 Delta ElectronicsPairCorr
  0.792882 Cathay Financial HoldingPairCorr
  0.722377 Micro Star InternatiPairCorr
  0.686637 Medical ImagingPairCorr
  0.722356 Inventec CorpPairCorr
  0.942809 Kings Town BankPairCorr
  0.866442 EZconn CorpPairCorr
  0.912891 CTBC Financial HoldingPairCorr
  0.95469 HannStar Board CorpPairCorr
  0.754919 Nuvoton Technology CorpPairCorr
  0.952383 Elite MaterialPairCorr
  0.9500701 Cathay TIP TAIEXPairCorr
  0.900731 Fuh Hwa FTSEPairCorr
  0.910050 YuantaP shares TaiwanPairCorr
  0.980053 YuantaP shares TaiwanPairCorr
  0.9900878 Cathay SustainabilityPairCorr
  0.9200662 Fubon NASDAQ 100PairCorr
  0.9300876 Yuanta Global NexGenPairCorr
  0.8900929 Fuh Hwa TaiwanPairCorr
  0.9900631L Yuanta Daily TaiwanPairCorr
  0.990057 Fubon MSCI TaiwanPairCorr
  0.97006201 YuantaP shares TaiwanPairCorr
  0.9700762 Yuanta STOXX GlobalPairCorr

Moving against Taiwan Index

  0.571303 Nan Ya PlasticsPairCorr

Related Correlations Analysis

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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   
3265
+ 0.92
6894
6435
+ 0.85
3094
3265
+ 0.84
3663
2436
+ 0.8
3663
3265
+ 0.8
2436
2436
+ 0.75
6894
  
High negative correlations   
3265
- 0.53
5302
3663
- 0.5
5302
2436
- 0.47
5302
6894
- 0.38
5302

Risk-Adjusted Indicators

There is a big difference between Taiwan Index performing well and Taiwan Weighted Index 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 Taiwan Weighted'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.

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Taiwan Weighted Distribution of Returns

   Predicted Return Density   
       Returns  
Taiwan Weighted's volatility is measured either by using standard deviation or beta. Standard deviation will reflect the average amount of how taiwan index's price will differ from the mean after some time.To get its calculation, you should first determine the mean price during the specified period then subtract that from each price point.

What Drives a Taiwan Weighted Price Volatility?

Several factors can influence a index's market volatility:

Industry

Specific events can influence volatility within a particular industry. For instance, a significant weather upheaval in a crucial oil-production site may cause oil prices to increase in the oil sector. The direct result will be the rise in the stock price of oil distribution companies. Similarly, any government regulation in a specific industry could negatively influence stock prices due to increased regulations on compliance that may impact the company's future earnings and growth.

Political and Economic environment

When governments make significant decisions regarding trade agreements, policies, and legislation regarding specific industries, they will influence stock prices. Everything from speeches to elections may influence investors, who can directly influence the stock prices in any particular industry. The prevailing economic situation also plays a significant role in stock prices. When the economy is doing well, investors will have a positive reaction and hence, better stock prices and vice versa.

The Company's Performance

Sometimes volatility will only affect an individual company. For example, a revolutionary product launch or strong earnings report may attract many investors to purchase the company. This positive attention will raise the company's stock price. In contrast, product recalls and data breaches may negatively influence a company's stock prices.

Taiwan Weighted Against Global Markets

 

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