Chow Tai Correlations

CJEWY Stock

USD 9.46 0.04 0.42%

The current 90-days correlation between Chow Tai Fook and Prada Spa PK is -0.13 (i.e., Good diversification). The correlation of Chow Tai 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.

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

Moving together with Chow Pink Sheet

0.61	HESAY	Hermes International	Pair Corr
0.75	SWGAY	Swatch Group AG	Pair Corr
0.62	CFRUY	Compagnie Financiere	Pair Corr
0.61	CFRHF	Compagnie Financière	Pair Corr
0.75	PPRUF	Kering SA	Pair Corr
0.75	PPRUY	Kering SA	Pair Corr
0.65	ILPT	Industrial Logistics	Pair Corr
0.73	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.65	TPX	TPX Old Symbol Change	Pair Corr
0.61	MKRIF	Melkior Resources	Pair Corr
0.61	ZNZNF	Zinzino AB	Pair Corr
0.78	NATH	Nathans Famous	Pair Corr
0.77	NMR	Nomura Holdings ADR	Pair Corr

Moving against Chow Pink Sheet

0.4	FEIM	Frequency Electronics Earnings Call This Week	Pair Corr
0.38	CNRIF	Condor Resources	Pair Corr
0.36	HTCO	Caravelle International Symbol Change	Pair Corr
0.46	PHGUF	Pharming Group NV Earnings Call This Week	Pair Corr
0.34	SES	SES AI Corp	Pair Corr

Related Correlations Analysis

	PRDSY	CHDRY	PPRUF	CHDRF	HESAF	BURBY	CFRUY	HESAY	PRDSF	PPRUY
PRDSY		0.28	0.62	0.18	0.39	0.31	0.42	0.41	0.36	0.71	PRDSY
CHDRY	0.28		0.55	0.68	0.68	0.65	0.67	0.68	-0.09	0.64	CHDRY
PPRUF	0.62	0.55		0.49	0.71	0.58	0.72	0.72	0.38	0.9	PPRUF
CHDRF	0.18	0.68	0.49		0.74	0.63	0.75	0.74	-0.27	0.47	CHDRF
HESAF	0.39	0.68	0.71	0.74		0.89	0.99	1.0	-0.04	0.72	HESAF
BURBY	0.31	0.65	0.58	0.63	0.89		0.88	0.9	-0.16	0.6	BURBY
CFRUY	0.42	0.67	0.72	0.75	0.99	0.88		0.99	-0.02	0.73	CFRUY
HESAY	0.41	0.68	0.72	0.74	1.0	0.9	0.99		-0.04	0.72	HESAY
PRDSF	0.36	-0.09	0.38	-0.27	-0.04	-0.16	-0.02	-0.04		0.36	PRDSF
PPRUY	0.71	0.64	0.9	0.47	0.72	0.6	0.73	0.72	0.36		PPRUY
	PRDSY	CHDRY	PPRUF	CHDRF	HESAF	BURBY	CFRUY	HESAY	PRDSF	PPRUY

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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

HESAY	+ 1.0	HESAF
CFRUY	+ 0.99	HESAF
HESAY	+ 0.99	CFRUY
PPRUY	+ 0.9	PPRUF
HESAY	+ 0.9	BURBY
BURBY	+ 0.89	HESAF

High negative correlations

PRDSF	- 0.27	CHDRF
PRDSF	- 0.16	BURBY
PRDSF	- 0.09	CHDRY
PRDSF	- 0.04	HESAY
PRDSF	- 0.04	HESAF
PRDSF	- 0.02	CFRUY

Risk-Adjusted Indicators

There is a big difference between Chow Pink Sheet performing well and Chow Tai 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 Chow Tai'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
PRDSY	2.46	0.25	0.09	1.93	2.75	(3.04)	5.53	(5.07)	15.41
CHDRY	2.46	0.21	0.06	0.12	2.96	(2.83)	5.92	(5.62)	15.12
PPRUF	2.70	0.29	0.09	1.99	3.04	(3.03)	5.88	(5.41)	17.72
CHDRF	0.97	0.23	0.10	0.53	1.00	(3.54)	4.66	(2.27)	10.96
HESAF	1.31	0.41	0.31	(22.81)	1.08	(1.46)	3.83	(2.35)	9.45
BURBY	1.93	0.39	0.22	1.87	1.67	(2.28)	4.60	(3.22)	15.32
CFRUY	1.37	0.61	0.54	35.87	0.74	(1.76)	2.31	(1.92)	18.24
HESAY	1.11	0.40	0.30	1.89	1.03	(1.18)	3.46	(2.21)	8.04
PRDSF	2.15	0.46	0.13	(0.58)	2.13	(4.21)	7.38	(5.22)	15.24
PPRUY	2.04	0.29	0.14	(4.53)	2.16	(2.22)	6.07	(4.22)	12.10

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chow Tai without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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