Chi Hua Correlations

1593 Stock

TWD 36.70 0.10 0.27%

The current 90-days correlation between Chi Hua Fitness and Jinan Acetate Chemical is 0.09 (i.e., Significant diversification). The correlation of Chi Hua 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.

Chi Hua Correlation With Market

Good diversification

The correlation between Chi Hua Fitness and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chi Hua Fitness and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Chi Stock

0.77	8478	Alexander Marine	Pair Corr
0.86	8924	O TA Precision	Pair Corr
0.78	2072	Century Wind Power	Pair Corr
0.66	2481	Pan Jit International Earnings Call This Week	Pair Corr

Moving against Chi Stock

0.5	3416	WinMate Communication INC	Pair Corr
0.5	0050	YuantaP shares Taiwan	Pair Corr
0.45	6670	Fusheng Precision Earnings Call This Week	Pair Corr
0.43	0053	YuantaP shares Taiwan	Pair Corr
0.43	0057	Fubon MSCI Taiwan	Pair Corr
0.37	2313	Compeq Manufacturing Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	4763	1314	4116	4104	6242	1709	2904	1735
4763		0.46	0.69	0.55	0.46	0.44	0.41	0.33	4763
1314	0.46		0.76	0.9	0.63	0.92	0.87	0.21	1314
4116	0.69	0.76		0.75	0.61	0.8	0.71	0.29	4116
4104	0.55	0.9	0.75		0.46	0.86	0.83	0.34	4104
6242	0.46	0.63	0.61	0.46		0.6	0.58	0.05	6242
1709	0.44	0.92	0.8	0.86	0.6		0.89	0.19	1709
2904	0.41	0.87	0.71	0.83	0.58	0.89		0.09	2904
1735	0.33	0.21	0.29	0.34	0.05	0.19	0.09		1735
	4763	1314	4116	4104	6242	1709	2904	1735

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Risk-Adjusted Indicators

There is a big difference between Chi Stock performing well and Chi Hua 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 Chi Hua'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
4763	1.24	0.19	0.16	0.98	1.30	(1.28)	2.87	(2.37)	7.44
1314	1.25	0.06	0.09	(3.03)	1.36	(1.40)	2.45	(1.98)	6.68
4116	0.90	0.00	0.07	(0.09)	1.04	(1.13)	2.01	(1.95)	7.48
4104	0.26	0.01	0.23	(5.30)	0.21	(0.39)	0.81	(0.47)	1.87
6242	0.92	0.07	0.11	0.40	1.00	(1.23)	1.98	(1.82)	11.90
1709	0.70	(0.06)	0.00	0.17	0.00	0.00	1.48	(1.43)	3.43
2904	0.31	(0.02)	0.00	(0.48)	0.00	0.00	0.84	(0.56)	1.97
1735	1.19	0.01	0.08	(0.07)	1.28	(1.51)	2.97	(2.33)	7.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chi Hua 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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