Cheer Holding Correlations

Stocks . USA . 
Stock . Cheer Holding
CHR Stock   1.52  0.01  0.66%   
The current 90-days correlation between Cheer Holding and TuanChe ADR is -0.1 (i.e., Good diversification). The correlation of Cheer Holding 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.

Cheer Holding Correlation With Market

Weak diversification

The correlation between Cheer Holding and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cheer Holding and DJI in the same portfolio, assuming nothing else is changed.
  
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Moving together with Cheer Stock

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  0.63Z Zillow Group ClassPairCorr

Moving against Cheer Stock

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  0.34ANGHW Anghami WarrantsPairCorr

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   
TC
+ 0.81
SE
SE
+ 0.76
CURIW
TV
+ 0.71
TC
TC
+ 0.68
CURIW
DLPN
+ 0.6
TV
DRCT
+ 0.52
IQ
  
High negative correlations   
DRCT
- 0.61
TC
DRCT
- 0.53
CURIW
ANGHW
- 0.5
TV
ANGHW
- 0.45
DLPN
ANGHW
- 0.45
TC
DRCT
- 0.44
SE

Risk-Adjusted Indicators

There is a big difference between Cheer Stock performing well and Cheer Holding 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 Cheer Holding'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.

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