Leatec Fine Correlations

6127 Stock

TWD 21.20 0.70 3.20%

The current 90-days correlation between Leatec Fine Ceramics and Plotech Co is 0.28 (i.e., Modest diversification). The correlation of Leatec Fine 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.

Leatec Fine Correlation With Market

Modest diversification

The correlation between Leatec Fine Ceramics and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leatec Fine Ceramics and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Leatec Stock

0.86	2330	Taiwan Semiconductor	Pair Corr
0.72	2379	Realtek Semiconductor	Pair Corr
0.74	6770	Powerchip Semiconductor	Pair Corr
0.74	3443	Global Unichip Corp	Pair Corr
0.9	2317	Hon Hai Precision	Pair Corr
0.78	2882	Cathay Financial Holding	Pair Corr
0.88	2891	CTBC Financial Holding	Pair Corr
0.91	0051	YuantaP shares Taiwan	Pair Corr
0.87	0057	Fubon MSCI Taiwan	Pair Corr
0.87	0053	YuantaP shares Taiwan	Pair Corr
0.8	0050	YuantaP shares Taiwan	Pair Corr

Moving against Leatec Stock

0.69	6415	Silergy Corp	Pair Corr
0.63	2882B	Cathay Financial Holding	Pair Corr
0.39	2881B	Fubon Financial Holding	Pair Corr
0.37	2882A	Cathay Financial Holding	Pair Corr

Related Correlations Analysis

	6141	3189	1513	4510	1808	4538	2534	3057
6141		0.7	0.91	0.16	-0.36	-0.48	0.47	0.68	6141
3189	0.7		0.82	0.16	-0.03	-0.08	0.37	0.52	3189
1513	0.91	0.82		0.25	-0.22	-0.37	0.53	0.72	1513
4510	0.16	0.16	0.25		-0.13	0.42	0.67	0.41	4510
1808	-0.36	-0.03	-0.22	-0.13		0.24	-0.34	-0.37	1808
4538	-0.48	-0.08	-0.37	0.42	0.24		0.19	-0.04	4538
2534	0.47	0.37	0.53	0.67	-0.34	0.19		0.69	2534
3057	0.68	0.52	0.72	0.41	-0.37	-0.04	0.69		3057
	6141	3189	1513	4510	1808	4538	2534	3057

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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

1513	+ 0.91	6141
1513	+ 0.82	3189
3057	+ 0.72	1513
3189	+ 0.7	6141
3057	+ 0.69	2534
3057	+ 0.68	6141

High negative correlations

4538	- 0.48	6141
3057	- 0.37	1808
4538	- 0.37	1513
1808	- 0.36	6141
2534	- 0.34	1808
1808	- 0.22	1513

Risk-Adjusted Indicators

There is a big difference between Leatec Stock performing well and Leatec Fine 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 Leatec Fine'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
6141	2.59	0.46	0.11	2.97	2.56	(3.32)	6.77	(4.60)	18.12
3189	1.82	0.55	0.23	1.61	1.42	(2.43)	6.21	(2.76)	14.03
1513	1.08	0.38	0.20	2.20	0.85	(1.31)	2.15	(2.12)	9.11
4510	2.70	0.08	0.02	0.22	2.63	(3.08)	5.35	(4.17)	14.81
1808	1.32	(0.06)	(0.06)	0.02	1.74	(1.64)	2.98	(2.65)	15.45
4538	0.49	0.06	(0.10)	8.98	0.40	(0.84)	1.15	(0.85)	4.80
2534	1.16	0.04	(0.05)	0.57	1.35	(1.48)	2.78	(2.59)	13.11
3057	2.69	0.40	0.13	2.22	2.07	(4.29)	9.78	(3.64)	15.75

Be your own money manager

Our tools can tell you how much better you can do entering a position in Leatec Fine 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.

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