Chung Hung Correlations

Stocks . Taiwan . 
Stock . Chung Hung Steel
2014 Stock  TWD 23.20  1.05  4.33%   
The current 90-days correlation between Chung Hung Steel and Yieh Phui Enterprise is -0.03 (i.e., Good diversification). The correlation of Chung Hung 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.

Chung Hung Correlation With Market

Average diversification

The correlation between Chung Hung Steel and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chung Hung Steel and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Chung Hung could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chung Hung 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 Chung Hung - 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 Chung Hung Steel to buy it.

Moving together with Chung Stock

  0.829962 Yeou Yih SteelPairCorr
  0.922412 Chunghwa TelecomPairCorr
  0.85871 Chailease HoldingPairCorr
  0.816505 Formosa PetrochemicalPairCorr
  0.782887E Taishin Financial HoldingPairCorr
  0.772886 Mega Financial HoldingPairCorr
  0.676266 Top Union ElectronicsPairCorr

Moving against Chung Stock

  0.812308 Delta ElectronicsPairCorr
  0.762330 Taiwan SemiconductorPairCorr
  0.660053 YuantaP shares TaiwanPairCorr
  0.650050 YuantaP shares TaiwanPairCorr
  0.620057 Fubon MSCI TaiwanPairCorr
  0.522317 Hon Hai PrecisionPairCorr

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   
2027
+ 0.93
2002
2027
+ 0.93
2023
2023
+ 0.9
2002
2006
+ 0.83
2023
2006
+ 0.82
2002
2006
+ 0.74
2027
  
High negative correlations   
2609
- 0.12
2023

Risk-Adjusted Indicators

There is a big difference between Chung Stock performing well and Chung Hung 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 Chung Hung'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chung Hung 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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Chung Hung Corporate Management

Elected by the shareholders, the Chung Hung's board of directors comprises two types of representatives: Chung Hung inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Chung. The board's role is to monitor Chung Hung's management team and ensure that shareholders' interests are well served. Chung Hung'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, Chung Hung's outside directors are responsible for providing unbiased perspectives on the board's policies.
ChiaWen LuoDeputy General Manager-Administrative, Head of FinanceProfile
ShuCheng YenAssistant DivisionProfile
Min ChuPres OfficerProfile
ChienHsiung TungAssistant DivisionProfile
JuiPin WuChief AuditorProfile
ChienChou ChenVP ProductionProfile
ChihHo ChiuVP ProductionProfile
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