Cheng Shin Jensen Alpha

2105 Stock  TWD 51.80  0.60  1.17%   
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Cheng Shin Rubber has current Jensen Alpha of 0.0863. Jensen alpha is a measure of the returns that are attributable to the managers' ability to select security and time the market. In other words, it is the returns remaining after deducting what would have been attributable to beta returns (which do not require skill) and the risk-freerate.

Jensen Alpha

 = 

ER[a] - RFR * (1-BETA)

-

BETA * ER[b])

 = 
0.0863
ER[a] = Expected return on investing in Cheng Shin
ER[b] = Expected return on market index or selected benchmark
BETA = Beta coefficient between Cheng Shin and the market
RFR = Risk Free Rate of return. Typically T-Bill Rate

Cheng Shin Jensen Alpha Peers Comparison

Cheng Jensen Alpha Relative To Other Indicators

Cheng Shin Rubber is rated second in jensen alpha category among its peers. It is currently under evaluation in maximum drawdown category among its peers reporting about  155.83  of Maximum Drawdown per Jensen Alpha. The ratio of Maximum Drawdown to Jensen Alpha for Cheng Shin Rubber is roughly  155.83 
Jensen alpha is the difference between the return of the portfolio, and what the portfolio should theoretically have earned. Any portfolio can be expected to earn the risk-free rate (RF), plus the market risk premium (which is given by [Beta x (Market Portfolio Return - Risk-Free Rate)]. Anything remaining over and above is alpha.
Compare Cheng Shin to Peers

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