Hon Hai Correlations

HNHPF Stock

USD 16.39 0.15 0.91%

The current 90-days correlation between Hon Hai Precision and Hexagon AB ADR is 0.16 (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

Modest diversification

The correlation between Hon Hai Precision and DJI is 0.2 (i.e., Modest 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

0.91	APH	Amphenol	Pair Corr
0.9	TEL	TE Connectivity Sell-off Trend	Pair Corr
0.82	GLW	Corning Incorporated	Pair Corr
0.85	CLS	Celestica Tech Boost	Pair Corr
0.82	MRAAF	Murata Manufacturing Downward Rally	Pair Corr
0.89	MRAAY	Murata Manufacturing Tech Boost	Pair Corr
0.81	FLEX	Flex	Pair Corr
0.65	SSNLF	Samsung Electronics	Pair Corr
0.73	CMUV	CMUV Bancorp	Pair Corr
0.71	NVDA	NVIDIA Aggressive Push	Pair Corr
0.69	CV	CapsoVision, Common Stock	Pair Corr
0.73	CFIGF	Challenger Limited	Pair Corr
0.92	TIMB	TIM Participacoes	Pair Corr
0.74	STOK	Stoke Therapeutics Earnings Call This Week	Pair Corr
0.74	ANFGF	Antofagasta PLC	Pair Corr
0.81	ANET	Arista Networks Earnings Call This Week	Pair Corr
0.69	QUILF	Quilter plc	Pair Corr
0.66	PLXS	Plexus Corp	Pair Corr

Moving against Hon Pink Sheet

0.38	PPERF	Bank Mandiri Persero	Pair Corr
0.34	PPERY	Bank Mandiri Persero Normal Trading	Pair Corr

Related Correlations Analysis

	HXGBY	TTDKY	TTDKF	HXGBF	ZTCOF	NTDTY	NOKBF	ERIXF
HXGBY		0.85	0.69	0.86	0.67	-0.5	0.7	0.68	HXGBY
TTDKY	0.85		0.86	0.71	0.76	-0.71	0.9	0.89	TTDKY
TTDKF	0.69	0.86		0.52	0.72	-0.66	0.84	0.82	TTDKF
HXGBF	0.86	0.71	0.52		0.58	-0.36	0.59	0.51	HXGBF
ZTCOF	0.67	0.76	0.72	0.58		-0.62	0.76	0.81	ZTCOF
NTDTY	-0.5	-0.71	-0.66	-0.36	-0.62		-0.72	-0.78	NTDTY
NOKBF	0.7	0.9	0.84	0.59	0.76	-0.72		0.91	NOKBF
ERIXF	0.68	0.89	0.82	0.51	0.81	-0.78	0.91		ERIXF
	HXGBY	TTDKY	TTDKF	HXGBF	ZTCOF	NTDTY	NOKBF	ERIXF

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

ERIXF	+ 0.91	NOKBF
NOKBF	+ 0.9	TTDKY
ERIXF	+ 0.89	TTDKY
HXGBF	+ 0.86	HXGBY
TTDKF	+ 0.86	TTDKY
TTDKY	+ 0.85	HXGBY

High negative correlations

ERIXF	- 0.78	NTDTY
NOKBF	- 0.72	NTDTY
NTDTY	- 0.71	TTDKY
NTDTY	- 0.66	TTDKF
NTDTY	- 0.62	ZTCOF
NTDTY	- 0.5	HXGBY

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
HXGBY	1.37	0.05	0.04	0.15	1.47	(1.50)	2.12	(2.40)	12.52
TTDKY	2.12	0.41	0.16	0.41	2.42	(2.37)	5.43	(3.72)	15.29
TTDKF	6.31	0.76	0.12	0.54	6.57	(6.87)	12.14	(10.69)	30.84
HXGBF	1.17	0.09	0.00	0.78	1.36	(3.64)	4.87	(3.45)	12.26
ZTCOF	3.03	1.68	0.16	(0.32)	1.74	(10.27)	8.35	(2.92)	68.52
NTDTY	2.84	(0.39)	0.00	(0.04)	0.00	0.00	10.91	(9.09)	28.04
NOKBF	2.07	0.89	0.31	(5.65)	1.63	(2.45)	3.90	(3.34)	35.17
ERIXF	1.67	0.56	0.15	(4.00)	1.31	(2.85)	4.53	(3.05)	15.67

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
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Alex Yang	Investor Officer	Profile
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WeiBin Lee	Chief Officer	Profile

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