Nan Ya Correlations
| 1303 Stock | TWD 55.60 0.20 0.36% |
The correlation of Nan Ya 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 Nan Ya moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nan Ya Plastics 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.
Good diversification
The correlation between Nan Ya Plastics and NYA is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nan Ya Plastics and NYA in the same portfolio, assuming nothing else is changed.
Nan |
The ability to find closely correlated positions to Nan Ya could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nan Ya 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 Nan Ya - 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 Nan Ya Plastics to buy it.
Moving together with Nan Stock
Moving against Nan Stock
| 0.83 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.82 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.82 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.74 | 0051 | YuantaP shares Taiwan | PairCorr |
| 0.72 | 9906 | Hsin Ba Ba | PairCorr |
| 0.65 | 2820 | China Bills Finance | PairCorr |
Related Correlations Analysis
| 0.93 | 0.79 | 0.88 | -0.67 | 1301 | ||
| 0.93 | 0.66 | 0.83 | -0.59 | 1326 | ||
| 0.79 | 0.66 | 0.82 | -0.34 | 2002 | ||
| 0.88 | 0.83 | 0.82 | -0.48 | 6505 | ||
| -0.67 | -0.59 | -0.34 | -0.48 | 2882 | ||
| 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
|
Risk-Adjusted Indicators
There is a big difference between Nan Stock performing well and Nan Ya 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 Nan Ya'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 1301 | 0.96 | (0.17) | 0.00 | 1.54 | 0.00 | 1.94 | 5.18 | |||
| 1326 | 1.00 | (0.15) | 0.00 | 1.11 | 0.00 | 1.96 | 6.61 | |||
| 2002 | 0.80 | (0.09) | 0.00 | (0.57) | 0.00 | 1.44 | 5.98 | |||
| 6505 | 1.06 | (0.16) | 0.00 | 28.96 | 0.00 | 2.33 | 7.02 | |||
| 2882 | 0.83 | 0.14 | 0.05 | (4.27) | 0.85 | 2.00 | 5.45 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Nan Ya 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 Idea Breakdown Now
Idea BreakdownAnalyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes |
| All Next | Launch Module |
Nan Ya Corporate Directors
Nan Ya corporate directors refer to members of a Nan Ya board of directors. The board of directors generally takes responsibility for the Nan Ya'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 Nan Ya's board members must vote for the resolution. The Nan Ya board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Shenyi Li | Director | Profile | |
| FongChin Lin | Senior Deputy General Manager, Director | Profile | |
| Guiyun Wang | Deputy General Manager, Director | Profile | |
| ChihKang Wang | Managing Director, Independent Director | Profile |
Already Invested in Nan Ya Plastics?
The danger of trading Nan Ya Plastics 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 Nan Ya 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 Nan Ya. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Nan Ya Plastics 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 Nan Ya Plastics. 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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Complementary Tools for Nan Stock analysis
When running Nan Ya's price analysis, check to measure Nan Ya'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 Nan Ya is operating at the current time. Most of Nan Ya's value examination focuses on studying past and present price action to predict the probability of Nan Ya's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nan Ya's price. Additionally, you may evaluate how the addition of Nan Ya to your portfolios can decrease your overall portfolio volatility.
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |