Chunghwa Telecom Correlations

CHT Stock

USD 39.14 0.13 0.33%

The correlation of Chunghwa Telecom 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 Telecom Correlation With Market

Modest diversification

The correlation between Chunghwa Telecom Co and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chunghwa Telecom Co and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Chunghwa Telecom Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Chunghwa Stock

0.85	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.79	VZ	Verizon Communications	Pair Corr
0.76	TMUS	T Mobile	Pair Corr
0.68	IQ	iQIYI Inc	Pair Corr
0.89	KT	KT Corporation	Pair Corr
0.79	TU	Telus Corp	Pair Corr
0.72	WB	Weibo Corp	Pair Corr
0.79	YY	YY Inc Class	Pair Corr
0.67	ZH	Zhihu Inc ADR Earnings Call Tomorrow	Pair Corr
0.7	EVER	EverQuote Class A	Pair Corr
0.76	BATRA	Atlanta Braves Holdings,	Pair Corr
0.67	BATRK	Atlanta Braves Holdings,	Pair Corr

Moving against Chunghwa Stock

0.63	LUMN	Lumen Technologies	Pair Corr
0.63	ZD	Ziff Davis	Pair Corr
0.62	OB	Outbrain	Pair Corr
0.58	TC	TuanChe ADR	Pair Corr
0.55	EA	Electronic Arts	Pair Corr
0.32	DLPN	Dolphin Entertainment Earnings Call This Week	Pair Corr
0.71	ADD	Color Star Technology	Pair Corr
0.71	AMC	AMC Entertainment	Pair Corr
0.64	CCO	Clear Channel Outdoor	Pair Corr
0.62	CNK	Cinemark Holdings	Pair Corr
0.61	WIMI	WiMi Hologram Cloud	Pair Corr
0.52	ANGHW	Anghami Warrants	Pair Corr
0.49	VSME	VS Media Holdings	Pair Corr
0.49	CHR	Cheer Holding	Pair Corr
0.44	ADV	Advantage Solutions	Pair Corr
0.33	DRCT	Direct Digital Holdings Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	TV	ORAN	VIV	TEF	LBRDA	AMX	SKM	VOD	KT	TIMB
TV		0.0	0.57	0.19	0.37	0.72	0.38	-0.17	0.21	0.5	TV
ORAN	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ORAN
VIV	0.57	0.0		0.47	0.45	0.48	0.41	0.27	0.76	0.88	VIV
TEF	0.19	0.0	0.47		0.73	0.37	0.27	0.87	0.7	0.8	TEF
LBRDA	0.37	0.0	0.45	0.73		0.45	0.37	0.63	0.69	0.69	LBRDA
AMX	0.72	0.0	0.48	0.37	0.45		0.45	0.08	0.2	0.49	AMX
SKM	0.38	0.0	0.41	0.27	0.37	0.45		-0.06	0.3	0.4	SKM
VOD	-0.17	0.0	0.27	0.87	0.63	0.08	-0.06		0.69	0.58	VOD
KT	0.21	0.0	0.76	0.7	0.69	0.2	0.3	0.69		0.83	KT
TIMB	0.5	0.0	0.88	0.8	0.69	0.49	0.4	0.58	0.83		TIMB
	TV	ORAN	VIV	TEF	LBRDA	AMX	SKM	VOD	KT	TIMB

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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

TIMB	+ 0.88	VIV
VOD	+ 0.87	TEF
TIMB	+ 0.83	KT
TIMB	+ 0.8	TEF
KT	+ 0.76	VIV
LBRDA	+ 0.73	TEF

High negative correlations

VOD	- 0.17	TV
VOD	- 0.06	SKM
TIMB	- 0.0	ORAN
KT	- 0.0	ORAN
VOD	- 0.0	ORAN
SKM	- 0.0	ORAN

Risk-Adjusted Indicators

There is a big difference between Chunghwa Stock performing well and Chunghwa Telecom 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 Telecom'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
TV	2.11	(0.16)	0.00	(0.26)	0.00	0.00	4.21	(5.03)	14.97
ORAN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VIV	1.51	0.17	0.10	0.28	1.96	(1.66)	3.51	(3.16)	11.36
TEF	0.82	0.13	0.17	1.34	0.91	(0.90)	1.83	(1.48)	3.76
LBRDA	1.38	0.09	0.05	0.05	1.97	(1.34)	2.78	(3.12)	9.58
AMX	1.24	(0.09)	0.00	1.52	0.00	0.00	2.83	(3.33)	7.32
SKM	0.92	(0.03)	0.00	(0.12)	0.00	0.00	2.24	(1.72)	5.06
VOD	1.06	0.19	0.18	0.86	1.09	(1.31)	2.79	(2.33)	6.88
KT	1.02	0.18	0.17	0.22	0.96	(1.10)	2.04	(1.90)	6.92
TIMB	1.47	0.36	0.18	0.53	1.88	(1.54)	3.45	(2.56)	14.05

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