Chinese Gamer Correlations

3083 Stock

TWD 42.50 0.25 0.58%

The current 90-days correlation between Chinese Gamer Intern and Holiday Entertainment Co is 0.31 (i.e., Weak diversification). The correlation of Chinese Gamer 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.

Chinese Gamer Correlation With Market

Good diversification

The correlation between Chinese Gamer International and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chinese Gamer International and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Chinese Stock

0.76	2891B	CTBC Financial Holding	Pair Corr
0.75	2891C	CTBC Financial Holding	Pair Corr
0.68	3491	Universal Microwave	Pair Corr
0.59	2881B	Fubon Financial Holding	Pair Corr
0.56	2330	Taiwan Semiconductor	Pair Corr
0.5	3416	WinMate Communication INC	Pair Corr
0.49	2368	Gold Circuit Electronics	Pair Corr
0.48	2888	Shin Kong Financial	Pair Corr
0.44	2882B	Cathay Financial Holding Earnings Call This Week	Pair Corr
0.43	5203	Cyberlink	Pair Corr
0.39	2881A	Fubon Financial Holding	Pair Corr
0.38	2891	CTBC Financial Holding	Pair Corr
0.67	4772	Taiwan Speciality	Pair Corr
0.66	2313	Compeq Manufacturing Earnings Call This Week	Pair Corr
0.59	3078	Channel Well Technology	Pair Corr
0.54	1597	Chieftek Precision	Pair Corr
0.48	4764	Double Bond Chemical	Pair Corr
0.47	0050	YuantaP shares Taiwan	Pair Corr
0.42	0053	YuantaP shares Taiwan	Pair Corr
0.4	0057	Fubon MSCI Taiwan	Pair Corr
0.38	4142	Adimmune Corp	Pair Corr

Related Correlations Analysis

	9943	6116	6237	6180	5269	2440	2454
9943		0.67	-0.36	0.61	-0.23	0.65	-0.18	9943
6116	0.67		-0.4	0.83	-0.59	0.73	-0.49	6116
6237	-0.36	-0.4		-0.62	0.72	-0.62	0.75	6237
6180	0.61	0.83	-0.62		-0.74	0.7	-0.72	6180
5269	-0.23	-0.59	0.72	-0.74		-0.58	0.9	5269
2440	0.65	0.73	-0.62	0.7	-0.58		-0.6	2440
2454	-0.18	-0.49	0.75	-0.72	0.9	-0.6		2454
	9943	6116	6237	6180	5269	2440	2454

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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

2454	+ 0.9	5269
6180	+ 0.83	6116
2454	+ 0.75	6237
2440	+ 0.73	6116
5269	+ 0.72	6237
2440	+ 0.7	6180

High negative correlations

5269	- 0.74	6180
2454	- 0.72	6180
2440	- 0.62	6237
6180	- 0.62	6237
2454	- 0.6	2440
5269	- 0.59	6116

Risk-Adjusted Indicators

There is a big difference between Chinese Stock performing well and Chinese Gamer 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 Chinese Gamer'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
9943	0.32	0.02	0.07	(0.56)	0.38	(0.45)	0.78	(0.52)	2.68
6116	1.17	(0.06)	0.00	0.21	0.00	0.00	2.72	(2.39)	7.19
6237	2.62	0.26	0.09	(1.67)	2.83	(3.26)	6.75	(4.05)	17.81
6180	1.03	(0.06)	0.00	0.55	0.00	0.00	2.14	(2.84)	9.79
5269	2.12	0.42	0.21	1.84	1.73	(2.74)	5.96	(2.97)	14.11
2440	1.08	(0.12)	0.00	0.15	0.00	0.00	2.44	(2.39)	8.36
2454	1.53	0.33	0.16	0.46	1.66	(1.81)	3.63	(2.60)	9.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chinese Gamer 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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