Chain replacement isn't something that will make your bikes chain any faster but it definitely works when you are attempting to prevent future wear on your vehicle. Chain tension can often be the cause of transmission problems and excess wear on the engine. Read to your owners manual and you can determine the ideal amount of drivetrain slack that you should have on your motorcycle.
To start the process of making these adjustments turn your engine off and placed the bike onto a paddock stand. Make sure the bike transmission is in neutral so that you can have more play with the chain.
Find the midway point in the chain when you have the bike up on the paddock stand and it is in neutral. The midway point in the chain is usually between the front and the rear sprocket's. Push up directly on the bottom of the chain and see if there is slack in the lower position or upper position. It's typical to have around 1.2-1.6 inches of slack in a street fight with dirt bikes sometimes getting around 2 inches of slack in the chain.
To make adjustments losing the axle not for just a few turns with a short wrench. Certain street bikes and dirt bikes actually have bolts on board that you can use to directly decrease or increase the chain slack. Adjust these bolts a quarter turn at a time and make sure that you do these quarter turns on each side of the swingarm so that the rear wheel will stay aligned. Remeasure the chain after you've made adjustments and make sure that it falls within spec.
Once you have found the ideal tension in your chain make sure to tighten up the axle nut back at the correct torque which is usually around 65 foot-pounds.
After you've made your adjustments you can take the bike down from the paddock stand and enjoy having less wear and tear on your engine!