Excelsior Medical Correlations

4104 Stock

TWD 90.00 0.10 0.11%

The current 90-days correlation between Excelsior Medical and Taiwan Semiconductor Manufacturing is -0.05 (i.e., Good diversification). The correlation of Excelsior Medical 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.

Excelsior Medical Correlation With Market

Significant diversification

The correlation between Excelsior Medical Co and NYA is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Excelsior Medical Co and NYA in the same portfolio, assuming nothing else is changed.

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

Moving together with Excelsior Stock

0.69

3231

Wistron Corp

Pair Corr

Moving against Excelsior Stock

0.76	3702A	WPG Holdings	Pair Corr
0.54	2330	Taiwan Semiconductor	Pair Corr
0.5	2317	Hon Hai Precision	Pair Corr
0.44	0057	Fubon MSCI Taiwan	Pair Corr
0.43	0050	YuantaP shares Taiwan	Pair Corr
0.4	0053	YuantaP shares Taiwan	Pair Corr
0.33	0051	YuantaP shares Taiwan	Pair Corr

Related Correlations Analysis

	2330	2317	2454	2412	6505	2308	2882	2303	1303	1301
2330		0.64	0.72	0.05	-0.46	0.15	0.45	0.61	-0.45	-0.45	2330
2317	0.64		0.59	0.22	-0.4	0.26	0.53	0.52	-0.32	-0.4	2317
2454	0.72	0.59		0.27	-0.59	0.54	0.48	0.84	-0.55	-0.45	2454
2412	0.05	0.22	0.27		-0.34	0.47	0.67	0.42	-0.28	-0.33	2412
6505	-0.46	-0.4	-0.59	-0.34		-0.56	-0.63	-0.65	0.88	0.9	6505
2308	0.15	0.26	0.54	0.47	-0.56		0.43	0.62	-0.4	-0.4	2308
2882	0.45	0.53	0.48	0.67	-0.63	0.43		0.69	-0.54	-0.66	2882
2303	0.61	0.52	0.84	0.42	-0.65	0.62	0.69		-0.6	-0.54	2303
1303	-0.45	-0.32	-0.55	-0.28	0.88	-0.4	-0.54	-0.6		0.94	1303
1301	-0.45	-0.4	-0.45	-0.33	0.9	-0.4	-0.66	-0.54	0.94		1301
	2330	2317	2454	2412	6505	2308	2882	2303	1303	1301

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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

1301	+ 0.94	1303
1301	+ 0.9	6505
1303	+ 0.88	6505
2303	+ 0.84	2454
2454	+ 0.72	2330
2303	+ 0.69	2882

High negative correlations

1301	- 0.66	2882
2303	- 0.65	6505
2882	- 0.63	6505
1303	- 0.6	2303
6505	- 0.59	2454
2308	- 0.56	6505

Risk-Adjusted Indicators

There is a big difference between Excelsior Stock performing well and Excelsior Medical 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 Excelsior Medical'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
2330	1.46	0.22	0.11	(0.43)	1.80	(1.64)	3.43	(2.23)	11.31
2317	2.20	0.75	0.33	43.62	1.50	(2.95)	5.65	(2.99)	12.52
2454	1.90	0.11	0.04	(0.19)	2.26	(2.36)	4.00	(4.95)	11.79
2412	0.55	0.05	0.06	(0.22)	0.56	(0.72)	1.20	(1.18)	3.61
6505	0.89	(0.11)	0.00	1.25	0.00	0.00	2.06	(1.45)	6.77
2308	1.82	0.24	0.12	(2.23)	1.76	(2.18)	5.49	(3.37)	11.83
2882	1.18	0.39	0.30	(1.15)	0.84	(1.48)	3.21	(2.06)	9.49
2303	1.05	0.14	0.11	(0.35)	1.08	(1.27)	2.32	(2.09)	6.29
1303	1.32	(0.18)	0.00	(1.64)	0.00	0.00	2.61	(2.55)	6.80
1301	0.93	(0.21)	0.00	4.60	0.00	0.00	2.21	(1.73)	5.79

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Our tools can tell you how much better you can do entering a position in Excelsior Medical 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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