Cheer Holding Correlations

CHR Stock

1.46 0.01 0.69%

The current 90-days correlation between Cheer Holding and Software Acquisition Group is -0.12 (i.e., Good diversification). The correlation of Cheer Holding 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.

Cheer Holding Correlation With Market

Very good diversification

The correlation between Cheer Holding and DJI is -0.47 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cheer Holding and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cheer Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cheer Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

To learn how to invest in Cheer Stock, please use our How to Invest in Cheer Holding guide.

Moving together with Cheer Stock

0.67	MIRI	Mirriad Advertising PLC	Pair Corr
0.88	IBTA	Ibotta	Pair Corr
0.85	MNTN	MNTN Inc	Pair Corr
0.8	SGRP	SPAR Group	Pair Corr
0.62	TNMG	TNL Mediagene Ordinary	Pair Corr
0.79	CNET	ZW Data Action	Pair Corr
0.92	SOND	Sonder Holdings	Pair Corr

Moving against Cheer Stock

0.54	605168	Threes Company	Pair Corr
0.53	300071	Spearhead Integrated	Pair Corr
0.5	300058	BlueFocus Communication	Pair Corr
0.45	000917	Hunan TV Broadcast	Pair Corr
0.38	603598	Inly Media	Pair Corr
0.34	002400	Guangdong Advertising	Pair Corr
0.75	PPERY	Bank Mandiri Persero Earnings Call This Week	Pair Corr
0.75	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.75	SDZNY	Sandoz Group AG	Pair Corr
0.7	AZZTF	Aztec Minerals Corp	Pair Corr
0.68	TALK	Talkspace	Pair Corr
0.66	TLK	Telkom Indonesia Tbk	Pair Corr
0.5	STRNY	Severn Trent PLC	Pair Corr
0.43	PTAIY	Astra International Tbk Downward Rally	Pair Corr

Related Correlations Analysis

	SWAG	KUKE	STFS	ZNB	CMLS	ADV	MOBQ	ONFO	BZFD
SWAG		0.05	0.4	0.2	0.08	0.31	0.39	0.44	-0.09	SWAG
KUKE	0.05		0.71	0.55	0.43	0.53	0.54	0.47	0.37	KUKE
STFS	0.4	0.71		0.78	0.53	0.83	0.58	0.85	0.62	STFS
ZNB	0.2	0.55	0.78		0.71	0.94	0.45	0.83	0.82	ZNB
CMLS	0.08	0.43	0.53	0.71		0.64	0.2	0.61	0.62	CMLS
ADV	0.31	0.53	0.83	0.94	0.64		0.49	0.87	0.81	ADV
MOBQ	0.39	0.54	0.58	0.45	0.2	0.49		0.64	0.25	MOBQ
ONFO	0.44	0.47	0.85	0.83	0.61	0.87	0.64		0.76	ONFO
BZFD	-0.09	0.37	0.62	0.82	0.62	0.81	0.25	0.76		BZFD
	SWAG	KUKE	STFS	ZNB	CMLS	ADV	MOBQ	ONFO	BZFD

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

ADV	+ 0.94	ZNB
ONFO	+ 0.87	ADV
ONFO	+ 0.85	STFS
ADV	+ 0.83	STFS
ONFO	+ 0.83	ZNB
BZFD	+ 0.82	ZNB

High negative correlations

BZFD

- 0.09

SWAG

Risk-Adjusted Indicators

There is a big difference between Cheer Stock performing well and Cheer Holding 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 Cheer Holding'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
SWAG	4.68	0.27	0.07	0.13	6.33	(4.96)	9.00	(12.12)	63.62
KUKE	31.51	7.13	0.20	1.24	25.62	(55.93)	150.00	(60.00)	382.50
STFS	4.97	(0.65)	0.00	(4.43)	0.00	0.00	9.09	(14.29)	59.82
ZNB	6.77	(0.33)	0.00	(0.15)	0.00	0.00	8.82	(11.11)	90.82
CMLS	10.84	0.61	0.03	(0.31)	11.34	(15.42)	30.00	(17.02)	70.57
ADV	3.70	(0.62)	0.00	(0.13)	0.00	0.00	7.06	(6.82)	22.81
MOBQ	5.80	(0.46)	0.00	(0.39)	0.00	0.00	14.29	(11.11)	38.78
ONFO	4.33	(0.54)	0.00	(0.16)	0.00	0.00	11.69	(8.11)	35.69
BZFD	3.50	(0.88)	0.00	(0.35)	0.00	0.00	6.67	(7.14)	39.16

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