Cheer Holding Correlations

CHR Stock

2.87 0.25 9.54%

The current 90-days correlation between Cheer Holding and Dolphin Entertainment is 0.11 (i.e., Average 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

Average diversification

The correlation between Cheer Holding and DJI is 0.18 (i.e., Average 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.

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 against Cheer Stock

0.4	SE	Sea	Pair Corr
0.33	ADD	Color Star Technology	Pair Corr
0.45	CNK	Cinemark Holdings	Pair Corr
0.36	IAS	Integral Ad Science	Pair Corr
0.31	FOXA	Fox Corp Class Sell-off Trend	Pair Corr
0.63	RDI	Reading International	Pair Corr
0.41	PSO	Pearson PLC ADR	Pair Corr
0.38	MCS	Marcus	Pair Corr
0.34	OMC	Omnicom Group	Pair Corr

Related Correlations Analysis

	MCHX	DLPN	BYOC	MGOL	GSMGW	IFUS	BAOS	CMPR	TSQ
MCHX		-0.63	0.1	-0.26	-0.37	-0.17	0.27	-0.1	-0.35	MCHX
DLPN	-0.63		-0.22	0.47	0.68	0.42	-0.19	0.17	0.54	DLPN
BYOC	0.1	-0.22		-0.25	-0.44	-0.15	0.13	-0.35	-0.31	BYOC
MGOL	-0.26	0.47	-0.25		0.51	-0.03	-0.52	0.04	0.14	MGOL
GSMGW	-0.37	0.68	-0.44	0.51		0.41	-0.2	0.38	0.61	GSMGW
IFUS	-0.17	0.42	-0.15	-0.03	0.41		0.33	0.29	0.76	IFUS
BAOS	0.27	-0.19	0.13	-0.52	-0.2	0.33		0.31	0.27	BAOS
CMPR	-0.1	0.17	-0.35	0.04	0.38	0.29	0.31		0.44	CMPR
TSQ	-0.35	0.54	-0.31	0.14	0.61	0.76	0.27	0.44		TSQ
	MCHX	DLPN	BYOC	MGOL	GSMGW	IFUS	BAOS	CMPR	TSQ

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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

TSQ	+ 0.76	IFUS
GSMGW	+ 0.68	DLPN
TSQ	+ 0.61	GSMGW
TSQ	+ 0.54	DLPN
GSMGW	+ 0.51	MGOL
MGOL	+ 0.47	DLPN

High negative correlations

DLPN	- 0.63	MCHX
BAOS	- 0.52	MGOL
GSMGW	- 0.44	BYOC
GSMGW	- 0.37	MCHX
CMPR	- 0.35	BYOC
TSQ	- 0.35	MCHX

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
MCHX	2.68	0.35	0.09	1.02	2.97	(3.09)	6.00	(5.29)	15.25
DLPN	3.41	(0.52)	0.00	(1.26)	0.00	0.00	6.56	(6.06)	42.05
BYOC	5.97	1.30	0.00	0.83	0.00	0.00	0.00	0.00	150.00
MGOL	7.95	(0.52)	0.00	(0.12)	0.00	0.00	17.70	(12.81)	79.80
GSMGW	9.85	0.79	0.00	(0.03)	10.77	(23.40)	30.00	(22.73)	102.73
IFUS	3.51	0.22	0.03	10.72	3.61	(4.22)	7.97	(5.96)	33.47
BAOS	4.15	0.53	0.10	1.19	3.90	(5.66)	10.85	(7.76)	27.93
CMPR	1.99	(0.20)	0.00	(0.05)	0.00	0.00	4.28	(5.81)	14.27
TSQ	2.01	(0.13)	(0.02)	0.03	2.42	(2.27)	4.79	(3.83)	13.75

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