Mars Semiconductor Correlations

6708 Stock

TWD 47.75 1.30 2.65%

The current 90-days correlation between Mars Semiconductor Corp and Yi Jinn Industrial is 0.23 (i.e., Modest diversification). The correlation of Mars Semiconductor 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.

Mars Semiconductor Correlation With Market

Average diversification

The correlation between Mars Semiconductor Corp and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mars Semiconductor Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Mars Stock

0.84	2345	Accton Technology Corp	Pair Corr
0.65	2072	Century Wind Power	Pair Corr
0.86	0051	YuantaP shares Taiwan	Pair Corr
0.83	0050	YuantaP shares Taiwan	Pair Corr
0.84	0053	YuantaP shares Taiwan	Pair Corr
0.84	0057	Fubon MSCI Taiwan	Pair Corr

Moving against Mars Stock

0.74	6287	Advanced Microelectronic	Pair Corr
0.72	3596	Arcadyan Technology Corp Earnings Call This Week	Pair Corr
0.66	9955	Super Dragon Technology	Pair Corr
0.6	4906	Gemtek Technology	Pair Corr
0.48	5388	Sercomm Corp	Pair Corr
0.46	3704	Unizyx Holding Corp	Pair Corr
0.35	6285	Wistron NeWeb Corp	Pair Corr

Related Correlations Analysis

	1457	9907	2329	3296	1773	4558	3653
1457		0.81	0.32	0.34	0.51	0.14	0.34	1457
9907	0.81		0.42	0.12	0.41	0.02	0.48	9907
2329	0.32	0.42		-0.4	-0.14	0.2	0.93	2329
3296	0.34	0.12	-0.4		0.47	0.37	-0.27	3296
1773	0.51	0.41	-0.14	0.47		-0.32	-0.23	1773
4558	0.14	0.02	0.2	0.37	-0.32		0.44	4558
3653	0.34	0.48	0.93	-0.27	-0.23	0.44		3653
	1457	9907	2329	3296	1773	4558	3653

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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

3653	+ 0.93	2329
9907	+ 0.81	1457
1773	+ 0.51	1457
3653	+ 0.48	9907
1773	+ 0.47	3296
3653	+ 0.44	4558

High negative correlations

3296	- 0.4	2329
4558	- 0.32	1773
3653	- 0.27	3296
3653	- 0.23	1773
1773	- 0.14	2329

Risk-Adjusted Indicators

There is a big difference between Mars Stock performing well and Mars Semiconductor 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 Mars Semiconductor'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
1457	0.61	(0.02)	(0.13)	0.06	0.68	(0.77)	1.16	(1.15)	3.75
9907	1.28	0.05	(0.04)	0.66	1.56	(1.39)	2.56	(2.43)	14.55
2329	1.82	0.21	0.08	0.45	2.01	(2.07)	4.41	(4.05)	14.34
3296	1.64	0.06	0.00	0.24	1.51	(2.61)	6.15	(3.31)	12.48
1773	1.38	0.01	(0.02)	0.15	3.35	(1.49)	2.70	(2.07)	21.75
4558	1.49	0.17	0.03	0.53	2.23	(1.52)	3.19	(3.58)	12.56
3653	2.29	0.63	0.25	0.66	1.81	(2.77)	6.15	(3.27)	15.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in Mars Semiconductor 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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