Cheer Holding Correlations

CHR Stock

1.47 0.01 0.68%

The current 90-days correlation between Cheer Holding and Boston Omaha Corp is 0.21 (i.e., Modest 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 0.33 (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.

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

0.63	TC	TuanChe ADR	Pair Corr
0.61	DIS	Walt Disney	Pair Corr
0.87	IAS	Integral Ad Science	Pair Corr
0.73	WPP	WPP PLC ADR	Pair Corr
0.61	MCHX	Marchex	Pair Corr
0.62	CMCSA	Comcast Corp	Pair Corr
0.78	NXST	Nexstar Broadcasting	Pair Corr
0.71	QMMM	QMMM Holdings Limited Buyout Trend	Pair Corr
0.69	SCHL	Scholastic	Pair Corr
0.74	Z	Zillow Group Class	Pair Corr
0.85	BZ	Kanzhun Ltd ADR	Pair Corr

Moving against Cheer Stock

0.35	FLNT	Fluent Inc	Pair Corr
0.34	NCMI	National CineMedia	Pair Corr
0.32	KUKE	Kuke Music Holding	Pair Corr

Related Correlations Analysis

	TSQ	BOC	MCHX	MU	BOSC	ASML	FLNT
TSQ		-0.26	0.33	0.22	0.03	0.06	0.03	TSQ
BOC	-0.26		-0.58	-0.44	-0.43	-0.25	0.63	BOC
MCHX	0.33	-0.58		0.89	0.73	0.73	-0.61	MCHX
MU	0.22	-0.44	0.89		0.86	0.9	-0.61	MU
BOSC	0.03	-0.43	0.73	0.86		0.75	-0.65	BOSC
ASML	0.06	-0.25	0.73	0.9	0.75		-0.54	ASML
FLNT	0.03	0.63	-0.61	-0.61	-0.65	-0.54		FLNT
	TSQ	BOC	MCHX	MU	BOSC	ASML	FLNT

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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

ASML	+ 0.9	MU
MU	+ 0.89	MCHX
BOSC	+ 0.86	MU
ASML	+ 0.75	BOSC
BOSC	+ 0.73	MCHX
ASML	+ 0.73	MCHX

High negative correlations

FLNT	- 0.65	BOSC
FLNT	- 0.61	MU
FLNT	- 0.61	MCHX
MCHX	- 0.58	BOC
FLNT	- 0.54	ASML
MU	- 0.44	BOC

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
TSQ	1.78	(0.15)	0.00	(0.14)	0.00	0.00	3.23	(3.64)	10.08
BOC	1.18	(0.03)	0.00	(0.03)	0.00	0.00	2.25	(3.20)	10.94
MCHX	3.30	0.27	0.07	0.45	3.28	(4.65)	8.39	(5.61)	19.61
MU	2.90	0.33	0.07	0.17	4.55	(2.81)	5.64	(8.04)	28.86
BOSC	2.02	0.36	0.14	0.84	2.17	(2.27)	4.12	(3.57)	25.16
ASML	1.85	0.05	0.02	0.06	2.49	(1.89)	3.32	(3.33)	22.49
FLNT	3.45	(0.19)	0.00	(0.36)	0.00	0.00	6.98	(7.44)	28.02

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