Chase Asia Correlations

CHASE Stock

0.55 0.02 3.51%

The current 90-days correlation between Chase Asia PCL and SGF Capital Public is -0.03 (i.e., Good diversification). The correlation of Chase Asia 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.

Chase Asia Correlation With Market

Very good diversification

The correlation between Chase Asia PCL and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chase Asia PCL and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Chase Stock

0.68	SANKO	Sanko Diecasting Public	Pair Corr
0.67	BYD	Beyond Securities PCL	Pair Corr
0.64	ARIN	Arinsiri Land Public	Pair Corr

Moving against Chase Stock

0.37	TVO	Thai Vegetable Oil Earnings Call This Week	Pair Corr
0.34	BLA	Bangkok Life Assurance	Pair Corr

Related Correlations Analysis

	AMANAH	IFS	MICRO	TQR	AF	MIDA	CHAYO	ML	LIT	SGF
AMANAH		0.3	0.66	0.63	0.53	0.54	0.84	-0.19	0.75	-0.33	AMANAH
IFS	0.3		0.58	0.01	0.0	0.52	0.29	0.49	0.49	0.24	IFS
MICRO	0.66	0.58		0.25	0.15	0.47	0.67	0.06	0.74	-0.15	MICRO
TQR	0.63	0.01	0.25		0.57	0.4	0.6	-0.49	0.53	-0.21	TQR
AF	0.53	0.0	0.15	0.57		0.47	0.65	-0.46	0.29	-0.37	AF
MIDA	0.54	0.52	0.47	0.4	0.47		0.62	0.09	0.53	0.06	MIDA
CHAYO	0.84	0.29	0.67	0.6	0.65	0.62		-0.37	0.68	-0.39	CHAYO
ML	-0.19	0.49	0.06	-0.49	-0.46	0.09	-0.37		-0.03	0.49	ML
LIT	0.75	0.49	0.74	0.53	0.29	0.53	0.68	-0.03		-0.15	LIT
SGF	-0.33	0.24	-0.15	-0.21	-0.37	0.06	-0.39	0.49	-0.15		SGF
	AMANAH	IFS	MICRO	TQR	AF	MIDA	CHAYO	ML	LIT	SGF

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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

CHAYO	+ 0.84	AMANAH
LIT	+ 0.75	AMANAH
LIT	+ 0.74	MICRO
LIT	+ 0.68	CHAYO
CHAYO	+ 0.67	MICRO
MICRO	+ 0.66	AMANAH

High negative correlations

ML	- 0.49	TQR
ML	- 0.46	AF
SGF	- 0.39	CHAYO
ML	- 0.37	CHAYO
SGF	- 0.37	AF
SGF	- 0.33	AMANAH

Risk-Adjusted Indicators

There is a big difference between Chase Stock performing well and Chase Asia 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 Chase Asia'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
AMANAH	1.37	0.10	0.01	0.98	1.51	(2.38)	4.05	(2.67)	9.32
IFS	0.80	0.09	(0.01)	(0.14)	1.07	(1.39)	0.99	(1.94)	10.53
MICRO	1.57	0.28	0.09	(1.86)	1.52	(2.14)	3.66	(3.09)	9.52
TQR	0.85	(0.05)	0.00	0.31	0.00	0.00	2.00	(1.94)	5.91
AF	2.51	0.01	0.01	0.08	3.55	(4.26)	6.45	(5.88)	17.23
MIDA	4.01	0.42	0.05	(0.38)	3.82	(9.18)	14.29	(8.33)	40.18
CHAYO	1.66	0.07	0.01	0.30	1.82	(2.29)	3.70	(3.17)	9.26
ML	2.04	0.17	0.03	(4.54)	2.05	(3.54)	6.25	(4.08)	11.58
LIT	1.75	0.19	0.03	(0.29)	1.94	(2.57)	3.28	(4.35)	11.80
SGF	2.90	0.15	0.00	(0.09)	3.17	(6.93)	6.25	(5.88)	18.89

Chase Asia 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 Chase Asia stock to make a market-neutral strategy. Peer analysis of Chase Asia could also be used in its relative valuation, which is a method of valuing Chase Asia by comparing valuation metrics with similar companies.

Amanah Leasing Public IFS Capital Public Micro Leasing Public TQR Public AIRA Factoring Public Mida Assets Public Chayo Group Public Mida Leasing Public Lease IT Public SGF Capital Public American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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