Chumpower Machinery Correlations
| 4575 Stock | TWD 23.15 0.35 1.54% |
The current 90-days correlation between Chumpower Machinery Corp and Shieh Yih Machinery is 0.08 (i.e., Significant diversification). The correlation of Chumpower Machinery 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.
Chumpower Machinery Correlation With Market
Modest diversification
The correlation between Chumpower Machinery Corp 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 Chumpower Machinery Corp and DJI in the same portfolio, assuming nothing else is changed.
Chumpower |
The ability to find closely correlated positions to Chumpower Machinery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chumpower Machinery 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 Chumpower Machinery - 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 Chumpower Machinery Corp to buy it.
Moving together with Chumpower Stock
| 0.65 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.68 | 3711 | ASE Industrial Holding Earnings Call Today | PairCorr |
| 0.63 | 2454 | MediaTek | PairCorr |
Moving against Chumpower Stock
| 0.81 | 2002A | China Steel Corp | PairCorr |
| 0.67 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.55 | 2002 | China Steel Corp | PairCorr |
| 0.53 | 2317 | Hon Hai Precision | PairCorr |
| 0.53 | 2615 | Wan Hai Lines | PairCorr |
| 0.5 | 2467 | C Sun Manufacturing | PairCorr |
| 0.5 | 1303 | Nan Ya Plastics | PairCorr |
| 0.49 | 2421 | Sunonwealth Electric | PairCorr |
| 0.49 | 2609 | Yang Ming Marine | PairCorr |
| 0.48 | 6208 | Highlight Tech | PairCorr |
| 0.39 | 4506 | Golden Friends | PairCorr |
| 0.38 | 6706 | Fittech | PairCorr |
| 0.38 | 0051 | YuantaP shares 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 Chumpower Stock performing well and Chumpower Machinery 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 Chumpower Machinery'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 4533 | 1.75 | (0.27) | 0.00 | 3.86 | 0.00 | 3.01 | 13.37 | |||
| 2505 | 1.06 | (0.05) | 0.00 | (0.80) | 0.00 | 1.87 | 8.67 | |||
| 2530 | 1.00 | (0.02) | 0.00 | (0.10) | 0.00 | 2.73 | 9.74 | |||
| 5514 | 0.74 | (0.07) | 0.00 | 0.70 | 0.00 | 1.75 | 5.35 | |||
| 2542 | 1.24 | 0.08 | 0.01 | 1.82 | 1.47 | 3.50 | 9.06 | |||
| 1539 | 1.38 | (0.41) | 0.00 | (1.53) | 0.00 | 2.40 | 8.18 | |||
| 5516 | 1.28 | 0.15 | 0.04 | 59.28 | 1.64 | 3.76 | 8.96 | |||
| 1540 | 1.89 | (0.38) | 0.00 | 1.67 | 0.00 | 4.77 | 14.07 | |||
| 2545 | 1.66 | 0.08 | 0.01 | 1.41 | 2.42 | 4.78 | 17.47 |
Chumpower Machinery 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 Chumpower Machinery stock to make a market-neutral strategy. Peer analysis of Chumpower Machinery could also be used in its relative valuation, which is a method of valuing Chumpower Machinery by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Chumpower Machinery Corporate Management
Elected by the shareholders, the Chumpower Machinery's board of directors comprises two types of representatives: Chumpower Machinery inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Chumpower. The board's role is to monitor Chumpower Machinery's management team and ensure that shareholders' interests are well served. Chumpower Machinery'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, Chumpower Machinery's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Renyao Yang | Deputy General Manager-Overseas Business Division | Profile | |
| Panjiang Yang | Director | Profile | |
| Huaiqing Huang | Independent Director | Profile | |
| Shumin Li | General Manager-Molding Machine Business Division, Director | Profile | |
| Sese Lin | Director | Profile | |
| Guiduan Chen | Independent Director | Profile |