Taiwan Steel Correlations
6581 Stock | TWD 97.90 3.00 3.16% |
The correlation of Taiwan Steel 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 Taiwan Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taiwan Steel Union 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 Taiwan Steel Union and NYA is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taiwan Steel Union and NYA in the same portfolio, assuming nothing else is changed.
Taiwan |
The ability to find closely correlated positions to Taiwan Steel 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 Steel 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 Steel - 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 Steel Union to buy it.
Moving together with Taiwan Stock
0.74 | 8422 | Cleanaway | PairCorr |
0.73 | 6803 | ECOVE Environment Corp | PairCorr |
0.78 | 8473 | Forest Water Environ | PairCorr |
0.81 | 8440 | EE Recycling | PairCorr |
0.86 | 6020 | Tachan Securities | PairCorr |
0.96 | 6144 | Deltamac Taiwan | PairCorr |
0.73 | 1725 | Yuan Jen Enterprises | PairCorr |
0.77 | 1419 | Shinkong Textile | PairCorr |
Moving against Taiwan Stock
0.93 | 2712 | FarGlory Hotel | PairCorr |
0.87 | 2227 | Yulon Nissan Motor | PairCorr |
0.79 | 8341 | Sunny Friend Environ Earnings Call This Week | PairCorr |
0.64 | 6624 | Ever Clear Environme | PairCorr |
0.57 | 3219 | Service Quality Tech | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Taiwan Stock performing well and Taiwan Steel 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 Taiwan Steel'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.Be your own money manager
Our tools can tell you how much better you can do entering a position in Taiwan Steel 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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Taiwan Steel Corporate Management
Elected by the shareholders, the Taiwan Steel's board of directors comprises two types of representatives: Taiwan Steel inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Taiwan. The board's role is to monitor Taiwan Steel's management team and ensure that shareholders' interests are well served. Taiwan Steel's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Taiwan Steel's outside directors are responsible for providing unbiased perspectives on the board's policies.
KunChieh Lin | Mang Department | Profile | |
Huangzhang Huang | Director | Profile | |
Hongduan Lin | Independent Director | Profile | |
WeiHan Huang | Director | Profile | |
Shicheng Ye | Director | Profile | |
Chuanquan Wu | Independent Director | Profile | |
Tianjin Zhang | Independent Director | Profile |
Already Invested in Taiwan Steel Union?
The danger of trading Taiwan Steel Union 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 Taiwan Steel 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 Taiwan Steel. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Taiwan Steel Union 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 Taiwan Steel Union. 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Complementary Tools for Taiwan Stock analysis
When running Taiwan Steel's price analysis, check to measure Taiwan Steel'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 Taiwan Steel is operating at the current time. Most of Taiwan Steel's value examination focuses on studying past and present price action to predict the probability of Taiwan Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Taiwan Steel's price. Additionally, you may evaluate how the addition of Taiwan Steel to your portfolios can decrease your overall portfolio volatility.
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