Capital Taiex Correlations
| 00686R Etf | TWD 2.63 0.02 0.77% |
The correlation of Capital Taiex 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 Capital Taiex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Capital Taiex Daily 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.
Significant diversification
The correlation between Capital Taiex Daily and NYA is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Taiex Daily and NYA in the same portfolio, assuming nothing else is changed.
Capital |
The ability to find closely correlated positions to Capital Taiex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Capital Taiex 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 Capital Taiex - 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 Capital Taiex Daily to buy it.
Moving together with Capital Etf
| 0.98 | 00632R | Yuanta Daily Taiwan | PairCorr |
| 0.98 | 00664R | Cathay TAIEX Daily | PairCorr |
| 0.77 | 00648R | Yuanta Daily SP | PairCorr |
| 0.82 | 00674R | Yuanta Securities | PairCorr |
Moving against Capital Etf
| 0.99 | 00881 | Cathay Taiwan 5G | PairCorr |
| 0.98 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.97 | 00631L | Yuanta Daily Taiwan | PairCorr |
| 0.97 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.97 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.92 | 00637L | Yuanta Daily CSI | PairCorr |
| 0.92 | 0051 | YuantaP shares Taiwan | PairCorr |
| 0.89 | 00642U | Yuanta SP GSCI | PairCorr |
| 0.88 | 00878 | Cathay Sustainability | PairCorr |
| 0.87 | 00715L | Paradigm SP GSCI | PairCorr |
| 0.81 | 006201 | YuantaP shares Taiwan | PairCorr |
| 0.72 | 00694B | Fubon 1 3 | PairCorr |
| 0.52 | 00885 | Fubon FTSE Vietnam | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Capital Taiex Competition Risk-Adjusted Indicators
There is a big difference between Capital Etf performing well and Capital Taiex ETF 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 Capital Taiex'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| META | 1.91 | 0.13 | 0.06 | 0.15 | 2.35 | 3.27 | 30.88 | |||
| MSFT | 1.03 | (0.09) | 0.00 | (0.03) | 0.00 | 2.11 | 5.87 | |||
| UBER | 1.64 | (0.02) | 0.01 | 0.03 | 1.73 | 2.64 | 18.39 | |||
| F | 1.60 | 0.04 | 0.05 | 0.06 | 1.92 | 4.88 | 10.80 | |||
| T | 0.88 | (0.06) | 0.00 | (0.15) | 0.00 | 1.88 | 4.89 | |||
| A | 1.24 | (0.03) | 0.00 | 0.03 | 1.42 | 2.29 | 6.31 | |||
| CRM | 1.23 | (0.14) | 0.00 | (0.05) | 0.00 | 2.64 | 10.84 | |||
| JPM | 0.77 | 0.08 | 0.06 | 0.11 | 1.28 | 1.94 | 8.65 | |||
| MRK | 0.69 | 0.05 | 0.05 | 0.12 | 0.63 | 1.35 | 6.92 | |||
| XOM | 0.82 | 0.14 | 0.11 | 0.36 | 0.89 | 1.77 | 5.64 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Capital Taiex 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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Already Invested in Capital Taiex Daily?
The danger of trading Capital Taiex Daily is mainly related to its market volatility and ETF 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 Capital Taiex 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 Capital Taiex. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Capital Taiex Daily 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 Capital Taiex Daily. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the Capital Taiex Daily information on this page should be used as a complementary analysis to other Capital Taiex's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.