Zoomlion Heavy Correlations

Stocks . China . 
Stock . Zoomlion Heavy Industry
000157 Stock   6.91  0.10  1.43%   
The current 90-days correlation between Zoomlion Heavy Industry and Industrial and Commercial is 0.46 (i.e., Very weak diversification). The correlation of Zoomlion Heavy 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.

Zoomlion Heavy Correlation With Market

Significant diversification

The correlation between Zoomlion Heavy Industry and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zoomlion Heavy Industry and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Zoomlion Heavy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zoomlion Heavy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Zoomlion Heavy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Zoomlion Heavy Industry to buy it.

Moving together with Zoomlion Stock

  0.92600519 Kweichow MoutaiPairCorr
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  0.76688298 Zhejiang Orient GenePairCorr
  0.72002594 BYD CoPairCorr
  0.81300760 Shenzhen Mindray BioPairCorr
  0.87300750 Contemporary AmperexPairCorr
  0.78688111 Beijing Kingsoft OfficePairCorr
  0.84600436 Zhangzhou PientzehuangPairCorr
  0.81000963 Huadong MedicinePairCorr
  0.82600755 Xiamen ITG GroupPairCorr
  0.89002555 37 Interactive EnterPairCorr
  0.88000761 Bengang Steel PlatesPairCorr
  0.86603688 Jiangsu Pacific QuartzPairCorr
  0.69603969 Tianjin Silvery DragonPairCorr
  0.65688603 Guangdong SkychemPairCorr
  0.84301379 Techshine ElectronicsPairCorr
  0.8002432 Andon HealthPairCorr
  0.93600583 Offshore Oil EngineeringPairCorr
  0.82300815 Eit EnvironmentalPairCorr
  0.78002152 GRG Banking EquipmentPairCorr
  0.82600584 JCET GroupPairCorr
  0.73603659 Shanghai Putailai NewPairCorr
  0.95601059 Cinda SecuritiesPairCorr
  0.69601002 Gem Year IndustrialPairCorr
  0.83200539 Guangdong Electric PowerPairCorr
  0.89000661 Changchun High NewPairCorr
  0.67603800 Suzhou Douson DrillingPairCorr
  0.68301390 Hangzhou Gisway InfoPairCorr
  0.85601636 Zhuzhou Kibing GroupPairCorr
  0.76300221 Guangdong Silvere SciPairCorr
  0.73300599 Guangdong XiongsuPairCorr
  0.66001323 De Rucci HealthyPairCorr
  0.71600719 Dalian Thermal PowerPairCorr
  0.68002295 Guangdong Jingyi MetalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Zoomlion Stock performing well and Zoomlion Heavy 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 Zoomlion Heavy'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601398  1.09  0.25  0.18  3.08  1.01 
(1.43)
 2.83 
(1.71)
 8.14 
601288  1.02  0.18  0.11  1.44  1.25 
(1.11)
 2.20 
(1.89)
 7.78 
601939  1.11  0.26  0.16  1.80  1.16 
(1.32)
 3.32 
(1.93)
 8.64 
601988  1.00  0.19  0.14  1.27  0.97 
(1.27)
 2.67 
(1.98)
 7.70 
601658  1.34  0.28  0.15  1.71  1.32 
(1.62)
 3.49 
(2.23)
 9.13 
601328  1.31  0.21  0.13  4.52  1.24 
(1.56)
 3.26 
(2.12)
 10.82 
601318  1.80  0.35  0.14  1.10  1.95 
(2.18)
 5.83 
(2.88)
 19.77 
600036  1.56  0.37  0.17 (3.67) 1.76 
(1.79)
 4.65 
(2.56)
 13.83 
601166  1.38  0.25  0.12  1.73  1.50 
(1.52)
 3.84 
(2.41)
 12.07 
601998  1.49  0.26  0.11  3.45  1.81 
(1.63)
 3.02 
(2.37)
 13.33 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zoomlion Heavy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Zoomlion Heavy Corporate Management

Elected by the shareholders, the Zoomlion Heavy's board of directors comprises two types of representatives: Zoomlion Heavy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zoomlion. The board's role is to monitor Zoomlion Heavy's management team and ensure that shareholders' interests are well served. Zoomlion Heavy's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Zoomlion Heavy's outside directors are responsible for providing unbiased perspectives on the board's policies.
Xuehong GuoVPProfile
Zhaobo TaoSecretary BoardProfile
Yigang DuChief OfficerProfile
Xiu QinAssistant PresProfile
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