Hon Hai Correlations

HNHPF Stock

USD 14.80 0.45 3.14%

The current 90-days correlation between Hon Hai Precision and Corning Incorporated is 0.12 (i.e., Average diversification). The correlation of Hon Hai 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.

Hon Hai Correlation With Market

Significant diversification

The correlation between Hon Hai Precision and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hon Hai Precision and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hon Pink Sheet

0.86	APH	Amphenol Earnings Call This Week	Pair Corr
0.86	GLW	Corning Incorporated	Pair Corr
0.77	TEL	TE Connectivity	Pair Corr
0.78	MRAAF	Murata Manufacturing	Pair Corr
0.9	MRAAY	Murata Manufacturing	Pair Corr
0.78	CLS	Celestica	Pair Corr
0.62	FLEX	Flex	Pair Corr
0.65	BRK-A	Berkshire Hathaway	Pair Corr
0.89	RDNT	RadNet Inc	Pair Corr
0.88	BDVB	Bagger Daves Burger	Pair Corr
0.64	FBYD	Falcons Beyond Global,	Pair Corr
0.89	REGCP	Regency Centers	Pair Corr
0.71	SEDG	SolarEdge Technologies	Pair Corr
0.82	OFED	Oconee Federal Financial	Pair Corr
0.72	FINN	First National Earnings Call Tomorrow	Pair Corr
0.84	BAC-PL	Bank of America	Pair Corr
0.69	TPB	Turning Point Brands Earnings Call This Week	Pair Corr
0.79	QVCGA	QVC Group Symbol Change	Pair Corr
0.65	MESA	Mesa Air Group	Pair Corr
0.67	36966TGR7	GENERAL ELEC CAP	Pair Corr
0.67	RTX	Raytheon Technologies Earnings Call This Week	Pair Corr
0.94	TIMB	TIM Participacoes	Pair Corr

Moving against Hon Pink Sheet

0.82	TRNR	Interactive Strength	Pair Corr
0.6	ADTX	Aditxt Inc	Pair Corr
0.41	JBL	Jabil Circuit	Pair Corr
0.48	CBGH	China YiBai United	Pair Corr

Related Correlations Analysis

	ASAAF	ALPE	APELY	BMNR	AAIRF	OUST	KOPN	VICR	FN	NEON
ASAAF		-0.18	0.56	0.42	-0.66	0.25	0.77	0.4	0.62	-0.67	ASAAF
ALPE	-0.18		-0.56	-0.28	0.48	-0.05	-0.11	-0.13	-0.36	0.39	ALPE
APELY	0.56	-0.56		0.67	-0.92	0.49	0.58	0.63	0.79	-0.89	APELY
BMNR	0.42	-0.28	0.67		-0.61	0.74	0.49	0.43	0.46	-0.49	BMNR
AAIRF	-0.66	0.48	-0.92	-0.61		-0.48	-0.67	-0.63	-0.75	0.85	AAIRF
OUST	0.25	-0.05	0.49	0.74	-0.48		0.54	0.61	0.38	-0.35	OUST
KOPN	0.77	-0.11	0.58	0.49	-0.67	0.54		0.68	0.76	-0.69	KOPN
VICR	0.4	-0.13	0.63	0.43	-0.63	0.61	0.68		0.72	-0.59	VICR
FN	0.62	-0.36	0.79	0.46	-0.75	0.38	0.76	0.72		-0.88	FN
NEON	-0.67	0.39	-0.89	-0.49	0.85	-0.35	-0.69	-0.59	-0.88		NEON
	ASAAF	ALPE	APELY	BMNR	AAIRF	OUST	KOPN	VICR	FN	NEON

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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

NEON	+ 0.85	AAIRF
FN	+ 0.79	APELY
KOPN	+ 0.77	ASAAF
FN	+ 0.76	KOPN
OUST	+ 0.74	BMNR
FN	+ 0.72	VICR

High negative correlations

AAIRF	- 0.92	APELY
NEON	- 0.89	APELY
NEON	- 0.88	FN
FN	- 0.75	AAIRF
NEON	- 0.69	KOPN
KOPN	- 0.67	AAIRF

Risk-Adjusted Indicators

There is a big difference between Hon Pink Sheet performing well and Hon Hai 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 Hon Hai'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
ASAAF	3.11	1.62	0.00	(1.56)	0.00	0.00	0.00	0.00	104.15
ALPE	1.99	(1.12)	0.00	(0.52)	0.00	0.00	0.00	0.00	66.67
APELY	0.62	0.28	0.00	2.25	0.00	0.00	2.80	0.00	7.97
BMNR	5.47	0.36	0.07	0.18	5.88	(5.97)	14.68	(9.28)	35.81
AAIRF	4.96	(0.57)	0.00	(0.19)	0.00	0.00	10.59	(10.00)	30.41
OUST	4.77	0.01	0.03	0.05	5.67	(5.01)	11.69	(9.69)	30.80
KOPN	4.94	0.78	0.19	0.25	4.42	(6.41)	13.38	(7.73)	36.15
VICR	2.64	0.17	0.08	0.10	2.94	(3.03)	6.82	(5.44)	27.05
FN	2.40	0.40	0.12	0.30	3.16	(2.67)	6.16	(4.52)	17.59
NEON	5.46	(2.11)	0.00	3.17	0.00	0.00	7.87	(14.15)	81.35

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hon Hai 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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Hon Hai Corporate Management

ChiuLien Huang	Chief Group	Profile
Yen Hwang	Investor Relations Officer	Profile
Alex Yang	Investor Officer	Profile
ChinMin Huang	Deputy Office	Profile
WeiBin Lee	Chief Officer	Profile

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