Chunghwa Chemical Correlations

1762 Stock  TWD 35.65  0.25  0.70%   
The current 90-days correlation between Chunghwa Chemical and Apex Biotechnology Corp is 0.42 (i.e., Very weak diversification). The correlation of Chunghwa Chemical 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 Chemical Correlation With Market

Average diversification

The correlation between Chunghwa Chemical Synthesis and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chunghwa Chemical Synthesis and DJI in the same portfolio, assuming nothing else is changed.
  
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Moving together with Chunghwa Stock

  0.830051 YuantaP shares TaiwanPairCorr

Moving against Chunghwa Stock

  0.762881A Fubon Financial HoldingPairCorr
  0.722891 CTBC Financial HoldingPairCorr
  0.712891B CTBC Financial HoldingPairCorr
  0.572882B Cathay Financial HoldingPairCorr
  0.342882A Cathay Financial HoldingPairCorr

Related Correlations Analysis

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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   
30581733
99211733
99213058
99215245
99213034
52451733
  
High negative correlations   
2882A9921
2882A3058
99216697
66973034
66973058
2882A5245

Risk-Adjusted Indicators

There is a big difference between Chunghwa Stock performing well and Chunghwa Chemical 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 Chemical'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
1733  0.62 (0.11) 0.00 (0.40) 0.00 
 1.53 
 5.06 
9945  0.93  0.03 (0.05) 0.36  1.14 
 1.80 
 7.35 
5245  1.44 (0.01) 0.00  0.21  0.00 
 2.89 
 14.50 
3034  1.04 (0.15) 0.00 (0.54) 0.00 
 1.97 
 8.21 
3058  1.34 (0.16) 0.00  2.11  0.00 
 2.79 
 8.09 
3152  2.00  0.32  0.08 (0.39) 1.80 
 4.76 
 12.61 
6697  1.35  0.16  0.04  0.55  1.60 
 3.46 
 15.29 
6209  0.95  0.00 (0.05) 0.12  1.15 
 1.98 
 5.38 
9921  1.69 (0.66) 0.00 (4.26) 0.00 
 2.38 
 14.43 
2882A  0.10  0.01 (0.42) 0.59  0.00 
 0.33 
 0.82 

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Chunghwa Chemical Corporate Management

Elected by the shareholders, the Chunghwa Chemical's board of directors comprises two types of representatives: Chunghwa Chemical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Chunghwa. The board's role is to monitor Chunghwa Chemical's management team and ensure that shareholders' interests are well served. Chunghwa Chemical's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Chunghwa Chemical's outside directors are responsible for providing unbiased perspectives on the board's policies.