CHINA DEVELOPMENT Correlations

2883B Stock

7.94 0.03 0.38%

The current 90-days correlation between CHINA DEVELOPMENT and CTBC Financial Holding is -0.2 (i.e., Good diversification). The correlation of CHINA DEVELOPMENT 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.

CHINA DEVELOPMENT Correlation With Market

Good diversification

The correlation between CHINA DEVELOPMENT FINANCIAL and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHINA DEVELOPMENT FINANCIAL and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against CHINA Stock

0.72	2303	United Microelectronics	Pair Corr
0.68	2409	AU Optronics	Pair Corr
0.63	3481	Innolux Corp	Pair Corr
0.49	0051	YuantaP shares Taiwan	Pair Corr
0.48	1303	Nan Ya Plastics	Pair Corr

Related Correlations Analysis

	2836	2891C	2881	2887E	2812	5880	2888	2852	2884
2836		-0.63	0.17	-0.41	-0.26	0.83	-0.4	-0.33	0.41	2836
2891C	-0.63		0.02	0.64	0.51	-0.82	0.74	0.4	0.13	2891C
2881	0.17	0.02		-0.14	0.12	0.22	0.11	-0.07	0.37	2881
2887E	-0.41	0.64	-0.14		0.4	-0.62	0.49	0.34	-0.09	2887E
2812	-0.26	0.51	0.12	0.4		-0.42	0.88	0.84	0.27	2812
5880	0.83	-0.82	0.22	-0.62	-0.42		-0.62	-0.44	0.28	5880
2888	-0.4	0.74	0.11	0.49	0.88	-0.62		0.8	0.27	2888
2852	-0.33	0.4	-0.07	0.34	0.84	-0.44	0.8		0.0	2852
2884	0.41	0.13	0.37	-0.09	0.27	0.28	0.27	0.0		2884
	2836	2891C	2881	2887E	2812	5880	2888	2852	2884

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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

2888	+ 0.88	2812
2852	+ 0.84	2812
5880	+ 0.83	2836
2852	+ 0.8	2888
2888	+ 0.74	2891C
2887E	+ 0.64	2891C

High negative correlations

5880	- 0.82	2891C
2891C	- 0.63	2836
2888	- 0.62	5880
5880	- 0.62	2887E
2852	- 0.44	5880
5880	- 0.42	2812

Risk-Adjusted Indicators

There is a big difference between CHINA Stock performing well and CHINA DEVELOPMENT 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 CHINA DEVELOPMENT'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
2836	0.53	(0.04)	0.00	6.48	0.00	0.00	1.29	(0.87)	2.61
2891C	0.17	0.04	(0.10)	1.43	0.00	(0.38)	0.52	(0.18)	1.40
2881	0.78	(0.01)	0.00	0.42	0.00	0.00	1.78	(1.32)	3.83
2887E	0.16	0.00	(0.25)	0.05	0.15	(0.29)	0.39	(0.39)	0.98
2812	0.63	0.06	(0.01)	1.06	0.60	(0.83)	1.30	(1.06)	5.45
5880	0.46	(0.09)	0.00	(1.61)	0.00	0.00	0.83	(0.98)	3.22
2888	0.55	0.11	0.06	2.84	0.44	(0.73)	1.29	(1.24)	3.40
2852	0.70	0.16	0.09	(0.66)	0.60	(0.90)	1.45	(1.21)	5.66
2884	0.67	(0.03)	0.00	(0.49)	0.00	0.00	1.65	(1.26)	3.34

CHINA DEVELOPMENT Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with CHINA DEVELOPMENT stock to make a market-neutral strategy. Peer analysis of CHINA DEVELOPMENT could also be used in its relative valuation, which is a method of valuing CHINA DEVELOPMENT by comparing valuation metrics with similar companies.

Bank of Kaohsiung CTBC Financial Holding Fubon Financial Holding Taishin Financial Holding Taichung Commercial Bank Taiwan Cooperative Financial Shin Kong Financial First Insurance Co ESUN Financial Holding American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

CHINA DEVELOPMENT Corporate Management

Elected by the shareholders, the CHINA DEVELOPMENT's board of directors comprises two types of representatives: CHINA DEVELOPMENT inside directors who are chosen from within the company, and outside directors, selected externally and held independent of CHINA. The board's role is to monitor CHINA DEVELOPMENT's management team and ensure that shareholders' interests are well served. CHINA DEVELOPMENT's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, CHINA DEVELOPMENT's outside directors are responsible for providing unbiased perspectives on the board's policies.

Christy Lin	Ex VP	Profile
Raymund Reyes	Chief VP	Profile
Gabriel Heredia	Ex Officer	Profile
Julian Yen	Sr Counsel	Profile
Terence Yeung	Ex Officer	Profile

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