Chunghwa Telecom Correlations

CHT Stock

USD 39.30 0.02 0.05%

The correlation of Chunghwa Telecom 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.

Chunghwa Telecom Correlation With Market

Modest diversification

The correlation between Chunghwa Telecom Co and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chunghwa Telecom Co and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Chunghwa Telecom Co. 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.

Moving together with Chunghwa Stock

0.66	T	ATT Inc Earnings Call This Week	Pair Corr
0.63	KT	KT Corporation	Pair Corr
0.77	TU	Telus Corp	Pair Corr
0.73	VZ	Verizon Communications	Pair Corr
0.67	IHS	IHS Holding	Pair Corr
0.7	FYBR	Frontier Communications Sell-off Trend	Pair Corr
0.62	PHI	PLDT Inc ADR	Pair Corr
0.66	TEF	Telefonica SA ADR	Pair Corr
0.71	TKC	Turkcell Iletisim Earnings Call Today	Pair Corr
0.71	VIV	Telefonica Brasil	Pair Corr
0.64	RPID	Rapid Micro Biosystems	Pair Corr

Moving against Chunghwa Stock

0.72	TEO	Telecom Argentina	Pair Corr
0.58	RCI	Rogers Communications	Pair Corr
0.32	TBB	ATT Inc	Pair Corr
0.73	GSAT	Globalstar, Common Stock	Pair Corr
0.54	LBTYA	Liberty Global PLC	Pair Corr
0.48	UCL	Ucloudlink Group	Pair Corr
0.48	LBTYK	Liberty Global PLC	Pair Corr

Related Correlations Analysis

	TV	ORAN	VIV	TEF	LBRDA	AMX	SKM	VOD	KT	TIMB
TV		0.0	0.72	0.42	0.5	0.75	0.37	0.03	0.46	0.73	TV
ORAN	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ORAN
VIV	0.72	0.0		0.45	0.47	0.61	0.5	0.22	0.55	0.88	VIV
TEF	0.42	0.0	0.45		0.72	0.51	0.36	0.72	0.29	0.79	TEF
LBRDA	0.5	0.0	0.47	0.72		0.49	0.4	0.62	0.54	0.72	LBRDA
AMX	0.75	0.0	0.61	0.51	0.49		0.41	0.21	0.26	0.68	AMX
SKM	0.37	0.0	0.5	0.36	0.4	0.41		0.0	0.37	0.53	SKM
VOD	0.03	0.0	0.22	0.72	0.62	0.21	0.0		0.55	0.51	VOD
KT	0.46	0.0	0.55	0.29	0.54	0.26	0.37	0.55		0.53	KT
TIMB	0.73	0.0	0.88	0.79	0.72	0.68	0.53	0.51	0.53		TIMB
	TV	ORAN	VIV	TEF	LBRDA	AMX	SKM	VOD	KT	TIMB

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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

TIMB	+ 0.88	VIV
TIMB	+ 0.79	TEF
AMX	+ 0.75	TV
TIMB	+ 0.73	TV
VIV	+ 0.72	TV
LBRDA	+ 0.72	TEF

High negative correlations

VOD	- 0.0	SKM
TIMB	- 0.0	ORAN
KT	- 0.0	ORAN
VOD	- 0.0	ORAN
SKM	- 0.0	ORAN
AMX	- 0.0	ORAN

Risk-Adjusted Indicators

There is a big difference between Chunghwa Stock performing well and Chunghwa Telecom 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 Chunghwa Telecom'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
TV	2.10	0.05	0.00	(0.02)	0.00	0.00	4.98	(5.05)	14.97
ORAN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VIV	1.48	0.34	0.20	0.71	1.77	(1.72)	3.68	(3.16)	11.36
TEF	0.77	0.24	0.33	(9.10)	0.58	(0.92)	1.95	(1.48)	3.76
LBRDA	1.36	0.16	0.09	0.17	1.92	(1.33)	2.80	(3.70)	9.58
AMX	1.15	0.02	0.07	17.50	1.62	(1.13)	2.83	(3.33)	7.32
SKM	0.95	0.01	0.00	(0.05)	0.00	0.00	2.63	(1.76)	5.06
VOD	1.08	0.17	0.18	0.66	1.10	(1.30)	2.79	(2.33)	6.88
KT	1.02	0.29	0.29	0.37	0.84	(1.12)	2.04	(1.56)	6.92
TIMB	1.46	0.52	0.25	0.93	1.69	(1.59)	3.98	(2.56)	14.05

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