Cheer Holding Correlations

CHR Stock

0.04 0 5.72%

The current 90-days correlation between Cheer Holding and Software Acquisition Group is -0.23 (i.e., Very 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

Good diversification

The correlation between Cheer Holding and DJI is -0.09 (i.e., Good 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.

Build AI portfolio with Cheer Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cheer Holding. 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.

To learn how to invest in Cheer Stock, please use our How to Invest in Cheer Holding guide.

Moving together with Cheer Stock

0.69	EBQ	Ebiquity Plc	Pair Corr
0.66	LDWY	Lendway	Pair Corr
0.64	MCHX	Marchex	Pair Corr
0.81	MNTN	MNTN, Inc	Pair Corr
0.88	NCMI	National CineMedia	Pair Corr
0.61	SBDS	Silver Bullet Data	Pair Corr
0.75	TTGT	TechTarget, Common Stock Downward Rally	Pair Corr
0.85	OML	OohMedia	Pair Corr

Moving against Cheer Stock

0.76	000917	Hunan TV Broadcast	Pair Corr
0.47	300058	BlueFocus Communication	Pair Corr
0.79	AMAT	Applied Materials	Pair Corr
0.71	PTAIY	Astra International Tbk	Pair Corr
0.65	GLW	Corning Incorporated	Pair Corr
0.62	ACTG	Acacia Research	Pair Corr
0.52	PHJMF	PT Hanjaya Mandala	Pair Corr
0.52	PUTKY	United Tractors Tbk	Pair Corr
0.48	LRDC	Laredo Oil	Pair Corr
0.46	PKX	POSCO Holdings	Pair Corr
0.36	EC	Ecopetrol SA ADR	Pair Corr
0.35	USCB	US Century Bank Normal Trading	Pair Corr

Related Correlations Analysis

	SWAG	KUKE	STFS	ZNB	CMLS	ADV	MOBQ	ONFO	BZFD
SWAG		-0.37	-0.25	-0.37	-0.51	-0.28	0.51	-0.08	-0.52	SWAG
KUKE	-0.37		0.28	0.61	0.71	0.85	-0.07	0.61	0.79	KUKE
STFS	-0.25	0.28		0.66	0.61	0.49	-0.19	0.6	0.54	STFS
ZNB	-0.37	0.61	0.66		0.78	0.78	-0.23	0.69	0.79	ZNB
CMLS	-0.51	0.71	0.61	0.78		0.74	-0.26	0.64	0.81	CMLS
ADV	-0.28	0.85	0.49	0.78	0.74		-0.06	0.81	0.9	ADV
MOBQ	0.51	-0.07	-0.19	-0.23	-0.26	-0.06		0.05	-0.27	MOBQ
ONFO	-0.08	0.61	0.6	0.69	0.64	0.81	0.05		0.79	ONFO
BZFD	-0.52	0.79	0.54	0.79	0.81	0.9	-0.27	0.79		BZFD
	SWAG	KUKE	STFS	ZNB	CMLS	ADV	MOBQ	ONFO	BZFD

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

BZFD	+ 0.9	ADV
ADV	+ 0.85	KUKE
BZFD	+ 0.81	CMLS
ONFO	+ 0.81	ADV
BZFD	+ 0.79	KUKE
BZFD	+ 0.79	ZNB

High negative correlations

BZFD	- 0.52	SWAG
CMLS	- 0.51	SWAG
ZNB	- 0.37	SWAG
KUKE	- 0.37	SWAG
ADV	- 0.28	SWAG
BZFD	- 0.27	MOBQ

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SWAG	4.00	0.12	0.05	0.10	5.88	(4.40)	8.70	(12.12)	63.62
KUKE	24.28	4.75	0.14	3.22	24.20	(40.73)	52.17	(59.52)	382.50
STFS	6.09	(0.35)	0.00	(0.43)	0.00	0.00	14.29	(13.33)	59.82
ZNB	6.51	(0.58)	0.00	(0.26)	0.00	0.00	8.06	(10.11)	148.94
CMLS	8.77	0.51	0.03	2.16	9.86	(14.31)	21.21	(16.67)	70.57
ADV	3.06	(1.23)	0.00	(0.41)	0.00	0.00	5.51	(7.47)	22.81
MOBQ	6.19	(0.01)	0.01	0.06	6.30	(8.01)	14.67	(9.71)	39.96
ONFO	4.88	(0.36)	0.00	(0.05)	0.00	0.00	11.76	(10.53)	44.48
BZFD	3.24	(0.96)	0.00	(0.32)	0.00	0.00	4.26	(5.94)	39.16

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