Chi Hua Correlations
| 1593 Stock | TWD 35.55 0.25 0.70% |
The current 90-days correlation between Chi Hua Fitness and U Media Communications is 0.12 (i.e., Average diversification). The correlation of Chi Hua 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.
Chi Hua Correlation With Market
Significant diversification
The correlation between Chi Hua Fitness and DJI 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 Chi Hua Fitness and DJI in the same portfolio, assuming nothing else is changed.
Chi |
The ability to find closely correlated positions to Chi Hua could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chi Hua 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 Chi Hua - 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 Chi Hua Fitness to buy it.
Moving together with Chi Stock
| 0.78 | 9921 | Giant Manufacturing | PairCorr |
| 0.79 | 9914 | Merida Industry | PairCorr |
| 0.88 | 8478 | Alexander Marine | PairCorr |
| 0.69 | 8938 | Advanced International | PairCorr |
| 0.85 | 8462 | Power Wind Health | PairCorr |
| 0.91 | 8924 | O TA Precision | PairCorr |
| 0.61 | 1516 | Falcon Power Split | PairCorr |
| 0.84 | 6785 | Alar Pharmaceuticals | PairCorr |
| 0.86 | 1435 | Chung Fu Tex | PairCorr |
| 0.75 | 1423 | Reward Wool Industry | PairCorr |
| 0.83 | 4174 | OBI Pharma | PairCorr |
| 0.8 | 9902 | Tidehold Development | PairCorr |
| 0.82 | 1713 | Cathay Chemical Works | PairCorr |
| 0.89 | 3094 | Davicom Semiconductor | PairCorr |
| 0.84 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against Chi Stock
| 0.8 | 2881B | Fubon Financial Holding | PairCorr |
| 0.73 | 6670 | Fusheng Precision | PairCorr |
| 0.62 | 6669 | Wiwynn Corp | PairCorr |
| 0.52 | 1736 | Johnson Health Tech | PairCorr |
Related Correlations Analysis
| 0.36 | 0.27 | 0.45 | 0.08 | 6470 | ||
| 0.36 | -0.19 | 0.53 | 0.55 | 6190 | ||
| 0.27 | -0.19 | 0.17 | -0.1 | 3038 | ||
| 0.45 | 0.53 | 0.17 | 0.44 | 3025 | ||
| 0.08 | 0.55 | -0.1 | 0.44 | 2331 | ||
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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
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Risk-Adjusted Indicators
There is a big difference between Chi Stock performing well and Chi Hua 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 Chi Hua'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 6470 | 1.71 | (0.06) | 0.00 | 15.06 | 0.00 | 4.27 | 18.22 | |||
| 6190 | 1.41 | (0.20) | 0.00 | 0.61 | 0.00 | 3.20 | 15.64 | |||
| 3038 | 1.12 | 0.09 | 0.05 | 1.91 | 1.24 | 3.43 | 9.49 | |||
| 3025 | 2.33 | (0.20) | 0.00 | (0.45) | 0.00 | 5.74 | 20.00 | |||
| 2331 | 1.50 | (0.20) | 0.00 | 1.93 | 0.00 | 2.70 | 12.06 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Chi Hua 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.Did you try this?
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