Shenwan Hongyuan Correlations

000166 Stock

4.92 0.09 1.80%

The current 90-days correlation between Shenwan Hongyuan and Shanghai Ziyan Foods is 0.06 (i.e., Significant diversification). The correlation of Shenwan Hongyuan 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.

Shenwan Hongyuan Correlation With Market

Significant diversification

The correlation between Shenwan Hongyuan Group and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shenwan Hongyuan Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Shenwan Hongyuan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shenwan Hongyuan 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 Shenwan Hongyuan - 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 Shenwan Hongyuan Group to buy it.

Moving against Shenwan Stock

0.33	601939	China Construction Bank	Pair Corr
0.33	601988	Bank of China	Pair Corr
0.33	601658	Postal Savings Bank	Pair Corr
0.31	601328	Bank of Communications	Pair Corr

Related Correlations Analysis

	603057	000809	002847	001215	001219	600784	600715	600805
603057		0.59	0.52	0.38	0.53	0.34	0.43	0.39	603057
000809	0.59		0.55	0.3	0.53	0.38	0.48	0.47	000809
002847	0.52	0.55		-0.1	0.18	-0.15	0.13	-0.12	002847
001215	0.38	0.3	-0.1		0.91	0.84	0.8	0.87	001215
001219	0.53	0.53	0.18	0.91		0.83	0.81	0.88	001219
600784	0.34	0.38	-0.15	0.84	0.83		0.67	0.94	600784
600715	0.43	0.48	0.13	0.8	0.81	0.67		0.73	600715
600805	0.39	0.47	-0.12	0.87	0.88	0.94	0.73		600805
	603057	000809	002847	001215	001219	600784	600715	600805

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

600805	+ 0.94	600784
001219	+ 0.91	001215
600805	+ 0.88	001219
600805	+ 0.87	001215
600784	+ 0.84	001215
600784	+ 0.83	001219

High negative correlations

600784	- 0.15	002847
600805	- 0.12	002847
001215	- 0.1	002847

Risk-Adjusted Indicators

There is a big difference between Shenwan Stock performing well and Shenwan Hongyuan 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 Shenwan Hongyuan'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
603057	2.61	0.10	0.02	9.33	3.05	(2.97)	5.77	(4.83)	20.04
000809	2.20	0.63	0.25	(9.31)	2.09	(2.69)	5.04	(4.59)	10.06
002847	1.87	0.24	0.10	(0.63)	2.03	(2.04)	3.77	(3.04)	14.81
001215	2.64	(0.03)	0.00	(0.05)	0.00	0.00	6.03	(6.11)	17.67
001219	2.14	0.18	0.06	0.51	2.82	(2.22)	5.35	(5.28)	13.26
600784	1.44	0.02	0.00	(0.07)	1.89	(1.47)	2.94	(3.19)	8.91
600715	2.68	0.23	0.05	(0.44)	3.48	(2.62)	5.09	(4.79)	14.20
600805	1.89	0.09	0.03	(0.21)	2.30	(2.04)	3.25	(3.69)	13.91

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shenwan Hongyuan 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.

Did you try this?

Run Risk-Return Analysis Now

Risk-Return Analysis

View associations between returns expected from investment and the risk you assume

All Next

Launch Module

Shenwan Hongyuan Corporate Management

Elected by the shareholders, the Shenwan Hongyuan's board of directors comprises two types of representatives: Shenwan Hongyuan inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shenwan. The board's role is to monitor Shenwan Hongyuan's management team and ensure that shareholders' interests are well served. Shenwan Hongyuan'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, Shenwan Hongyuan's outside directors are responsible for providing unbiased perspectives on the board's policies.

Eugene Law	Head Research	Profile
Quansheng Ren	Chief Officer	Profile
Liang Xu	Joint Secretary	Profile
Wai FCS	Joint Secretary	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC