Chialin Precision Correlations
| 3310 Stock | TWD 96.30 0.20 0.21% |
The current 90-days correlation between Chialin Precision and Hon Hai Precision is 0.04 (i.e., Significant diversification). The correlation of Chialin Precision 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.
Chialin Precision Correlation With Market
Significant diversification
The correlation between Chialin Precision Industrial and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chialin Precision Industrial and DJI in the same portfolio, assuming nothing else is changed.
Chialin |
The ability to find closely correlated positions to Chialin Precision could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chialin Precision 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 Chialin Precision - 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 Chialin Precision Industrial to buy it.
Moving together with Chialin Stock
| 0.75 | 2308 | Delta Electronics | PairCorr |
| 0.66 | 3008 | LARGAN Precision Earnings Call This Week | PairCorr |
| 0.67 | 2609 | Yang Ming Marine | PairCorr |
Moving against Chialin Stock
| 0.89 | 1303 | Nan Ya Plastics | PairCorr |
| 0.82 | 8069 | E Ink Holdings | PairCorr |
| 0.8 | 2409 | AU Optronics | PairCorr |
| 0.77 | 2317 | Hon Hai Precision | PairCorr |
| 0.75 | 4938 | Pegatron Corp | PairCorr |
| 0.74 | 3481 | Innolux Corp | PairCorr |
| 0.65 | 0051 | YuantaP shares Taiwan | PairCorr |
| 0.61 | 2303 | United Microelectronics | PairCorr |
| 0.47 | 2615 | Wan Hai Lines | PairCorr |
| 0.46 | 2327 | Yageo Corp | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Chialin Stock performing well and Chialin Precision 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 Chialin Precision'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2317 | 1.28 | (0.05) | 0.00 | (0.12) | 0.00 | 2.88 | 7.82 | |||
| 2308 | 1.22 | 0.11 | 0.06 | (2.75) | 1.49 | 2.55 | 6.55 | |||
| 3008 | 1.41 | (0.01) | 0.00 | 0.11 | 0.00 | 3.23 | 10.08 | |||
| 8069 | 1.76 | (0.16) | 0.00 | 11.45 | 0.00 | 3.01 | 11.46 | |||
| 2327 | 1.26 | (0.19) | 0.00 | (0.58) | 0.00 | 2.32 | 8.38 | |||
| 4938 | 1.12 | (0.20) | 0.00 | (3.32) | 0.00 | 2.44 | 6.48 | |||
| 2409 | 1.26 | (0.26) | 0.00 | (1.31) | 0.00 | 2.49 | 8.30 | |||
| 3481 | 1.31 | (0.21) | 0.00 | (0.53) | 0.00 | 2.94 | 10.50 |
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Chialin Precision Corporate Management
Elected by the shareholders, the Chialin Precision's board of directors comprises two types of representatives: Chialin Precision inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Chialin. The board's role is to monitor Chialin Precision's management team and ensure that shareholders' interests are well served. Chialin Precision'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, Chialin Precision's outside directors are responsible for providing unbiased perspectives on the board's policies.