Chenming Mold Correlations
| 3013 Stock | TWD 142.50 1.00 0.70% |
The current 90-days correlation between Chenming Mold Industrial and Zinwell is 0.06 (i.e., Significant diversification). The correlation of Chenming Mold 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.
Chenming Mold Correlation With Market
Average diversification
The correlation between Chenming Mold Industrial and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chenming Mold Industrial and DJI in the same portfolio, assuming nothing else is changed.
Chenming |
The ability to find closely correlated positions to Chenming Mold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chenming Mold 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 Chenming Mold - 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 Chenming Mold Industrial to buy it.
Moving together with Chenming Stock
Moving against Chenming Stock
Related Correlations Analysis
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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 Chenming Stock performing well and Chenming Mold 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 Chenming Mold'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2362 | 1.28 | (0.23) | 0.00 | (1.18) | 0.00 | 2.71 | 6.54 | |||
| 2485 | 1.36 | (0.31) | 0.00 | (4.04) | 0.00 | 3.09 | 9.86 | |||
| 3060 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 3057 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 3055 | 1.83 | (0.02) | 0.00 | 0.25 | 0.00 | 3.63 | 14.57 |
Chenming Mold 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 Chenming Mold stock to make a market-neutral strategy. Peer analysis of Chenming Mold could also be used in its relative valuation, which is a method of valuing Chenming Mold by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Chenming Mold Corporate Management
Elected by the shareholders, the Chenming Mold's board of directors comprises two types of representatives: Chenming Mold inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Chenming. The board's role is to monitor Chenming Mold's management team and ensure that shareholders' interests are well served. Chenming Mold'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, Chenming Mold's outside directors are responsible for providing unbiased perspectives on the board's policies.
| ChihChi Lo | Pres Director | Profile | |
| RueiChuan Wu | VP Sales | Profile | |
| ChungChing Su | Sr Officer | Profile | |
| YuHsiang Fan | VP | Profile |