Chung Hwa Correlations
| 4205 Stock | TWD 85.80 0.10 0.12% |
The current 90-days correlation between Chung Hwa Food and Solar Applied Materials is 0.35 (i.e., Weak diversification). The correlation of Chung Hwa 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.
Chung Hwa Correlation With Market
Good diversification
The correlation between Chung Hwa Food and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chung Hwa Food and DJI in the same portfolio, assuming nothing else is changed.
Chung |
The ability to find closely correlated positions to Chung Hwa could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chung Hwa 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 Chung Hwa - 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 Chung Hwa Food to buy it.
Moving together with Chung Stock
| 0.86 | 1216 | Uni President Enterp | PairCorr |
| 0.89 | 1229 | Lien Hwa Industrial | PairCorr |
| 0.9 | 1227 | Standard Foods Corp | PairCorr |
| 0.79 | 4128 | Microbio | PairCorr |
| 0.69 | 1215 | Charoen Pokphand Ent | PairCorr |
| 0.75 | 1218 | Taisun Enterprise | PairCorr |
| 0.68 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against Chung Stock
| 0.92 | 2891C | CTBC Financial Holding | PairCorr |
| 0.9 | 2881B | Fubon Financial Holding | PairCorr |
| 0.88 | 2891B | CTBC Financial Holding | PairCorr |
| 0.86 | 1231 | Lian Hwa Foods | PairCorr |
| 0.71 | 2882B | Cathay Financial Holding | PairCorr |
| 0.71 | 2888 | Shin Kong Financial | PairCorr |
| 0.66 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.62 | 2881A | Fubon Financial Holding | PairCorr |
| 0.57 | 2891 | CTBC Financial Holding | PairCorr |
| 0.48 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.41 | 0057 | Fubon MSCI Taiwan | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Chung Stock performing well and Chung Hwa 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 Chung Hwa'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 1785 | 1.67 | (0.09) | 0.00 | 0.34 | 0.00 | 4.71 | 11.23 | |||
| 2702 | 0.78 | (0.07) | 0.00 | (0.18) | 0.00 | 1.54 | 7.88 | |||
| 2383 | 1.78 | 0.54 | 0.19 | (9.73) | 1.83 | 4.54 | 12.15 | |||
| 1806 | 1.51 | (0.30) | 0.00 | (1.04) | 0.00 | 3.31 | 10.39 | |||
| 2736 | 1.98 | 0.28 | 0.10 | 0.76 | 1.67 | 9.81 | 15.29 | |||
| 2707 | 0.68 | (0.06) | 0.00 | (0.90) | 0.00 | 1.55 | 5.79 | |||
| 8942 | 0.78 | (0.04) | 0.00 | (0.23) | 0.00 | 1.43 | 5.59 | |||
| 6585 | 1.90 | 0.12 | 0.01 | (2.38) | 2.20 | 4.25 | 12.43 |
Chung Hwa 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 Chung Hwa stock to make a market-neutral strategy. Peer analysis of Chung Hwa could also be used in its relative valuation, which is a method of valuing Chung Hwa by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Chung Hwa Corporate Management
Elected by the shareholders, the Chung Hwa's board of directors comprises two types of representatives: Chung Hwa inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Chung. The board's role is to monitor Chung Hwa's management team and ensure that shareholders' interests are well served. Chung Hwa'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, Chung Hwa's outside directors are responsible for providing unbiased perspectives on the board's policies.
| YuJuan Jian | Sr Department | Profile | |
| Bilan Ke | Deputy General Manager | Profile | |
| WenRui Jiang | VP Group | Profile | |
| ShuHui Yang | VP Department | Profile |