ASE Industrial Correlations

ASX Stock

USD 10.30 0.03 0.29%

The current 90-days correlation between ASE Industrial Holding and Aluminum of is 0.22 (i.e., Modest diversification). The correlation of ASE Industrial 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.

ASE Industrial Correlation With Market

Good diversification

The correlation between ASE Industrial Holding and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ASE Industrial Holding and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ASE Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ASE Industrial Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with ASE Stock

0.96	DIOD	Diodes Incorporated	Pair Corr
0.93	MU	Micron Technology	Pair Corr
0.9	MX	MagnaChip Semiconductor	Pair Corr
0.62	NA	Nano Labs	Pair Corr
0.92	ON	ON Semiconductor	Pair Corr
0.86	PI	Impinj Inc	Pair Corr
0.98	ADI	Analog Devices	Pair Corr
0.89	GFS	Globalfoundries	Pair Corr
0.94	STM	STMicroelectronics NV ADR	Pair Corr
0.92	UMC	United Microelectronics	Pair Corr
0.91	INDI	indie Semiconductor	Pair Corr
0.95	KLAC	KLA Tencor	Pair Corr
0.89	KLIC	Kulicke and Soffa	Pair Corr
0.96	MCHP	Microchip Technology	Pair Corr
0.97	MPWR	Monolithic Power Systems	Pair Corr
0.91	MRAM	Everspin Technologies	Pair Corr
0.91	MRVL	Marvell Technology Potential Growth	Pair Corr
0.95	MTSI	MACOM Technology Sol	Pair Corr
0.96	MCHPP	Microchip Technology	Pair Corr
0.92	NVEC	NVE Corporation	Pair Corr
0.91	NVDA	NVIDIA	Pair Corr
0.72	NVTS	Navitas Semiconductor	Pair Corr
0.75	PRSO	Peraso Inc	Pair Corr
0.96	QRVO	Qorvo Inc	Pair Corr
0.92	ACLS	Axcelis Technologies	Pair Corr
0.97	AMKR	Amkor Technology	Pair Corr
0.94	CRUS	Cirrus Logic	Pair Corr
0.95	KD	Kyndryl Holdings	Pair Corr
0.94	KN	Knowles Cor	Pair Corr
0.87	UI	Ubiquiti Networks	Pair Corr
0.69	VEEA	Veea Inc Symbol Change	Pair Corr

Moving against ASE Stock

0.37	WOLF	Wolfspeed	Pair Corr
0.34	MOBX	Mobix Labs	Pair Corr
0.69	FI	Fiserv, Sell-off Trend	Pair Corr
0.35	VIAV	Viavi Solutions	Pair Corr

Related Correlations Analysis

	COTY	UG	CNLFF	GFF	ATER	ALMMF	TRMD	GZITF
COTY		0.53	-0.16	0.37	0.5	0.03	-0.12	-0.42	COTY
UG	0.53		-0.36	0.12	0.31	0.32	-0.13	-0.17	UG
CNLFF	-0.16	-0.36		-0.01	-0.3	-0.34	-0.04	-0.04	CNLFF
GFF	0.37	0.12	-0.01		0.25	0.34	0.26	0.36	GFF
ATER	0.5	0.31	-0.3	0.25		-0.17	-0.42	-0.21	ATER
ALMMF	0.03	0.32	-0.34	0.34	-0.17		0.41	0.6	ALMMF
TRMD	-0.12	-0.13	-0.04	0.26	-0.42	0.41		0.3	TRMD
GZITF	-0.42	-0.17	-0.04	0.36	-0.21	0.6	0.3		GZITF
	COTY	UG	CNLFF	GFF	ATER	ALMMF	TRMD	GZITF

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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

GZITF	+ 0.6	ALMMF
UG	+ 0.53	COTY
ATER	+ 0.5	COTY
TRMD	+ 0.41	ALMMF
GFF	+ 0.37	COTY
GZITF	+ 0.36	GFF

High negative correlations

TRMD	- 0.42	ATER
GZITF	- 0.42	COTY
CNLFF	- 0.36	UG
ALMMF	- 0.34	CNLFF
ATER	- 0.3	CNLFF
GZITF	- 0.21	ATER

Risk-Adjusted Indicators

There is a big difference between ASE Stock performing well and ASE Industrial 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 ASE Industrial'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
COTY	2.42	(0.24)	0.00	(0.09)	0.00	0.00	5.59	(5.96)	25.89
UG	1.70	(0.22)	0.00	(0.49)	0.00	0.00	4.30	(3.78)	11.73
CNLFF	0.05	0.01	0.00	1.62	0.00	0.00	0.00	0.00	1.02
GFF	1.87	0.01	0.01	0.09	2.33	(1.98)	4.44	(3.65)	15.07
ATER	3.44	(0.60)	0.00	(0.29)	0.00	0.00	7.26	(8.41)	26.74
ALMMF	2.83	0.04	0.00	0.92	4.14	(4.12)	5.17	(8.82)	23.87
TRMD	2.15	(0.01)	(0.01)	0.06	2.76	(2.33)	4.22	(4.37)	12.16
GZITF	0.11	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.57

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