XCMG Construction Correlations
| 000425 Stock | 7.30 0.13 1.75% |
The current 90-days correlation between XCMG Construction and China Railway Group is 0.41 (i.e., Very weak diversification). The correlation of XCMG Construction 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.
XCMG Construction Correlation With Market
Good diversification
The correlation between XCMG Construction Machinery and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XCMG Construction Machinery and DJI in the same portfolio, assuming nothing else is changed.
XCMG |
The ability to find closely correlated positions to XCMG Construction could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace XCMG Construction 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 XCMG Construction - 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 XCMG Construction Machinery to buy it.
Moving together with XCMG Stock
Moving against XCMG Stock
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between XCMG Stock performing well and XCMG Construction 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 XCMG Construction'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 002594 | 1.35 | (0.18) | 0.00 | 0.74 | 0.00 | 2.86 | 9.83 | |||
| 600941 | 0.99 | 0.05 | 0.02 | 1.06 | 1.14 | 2.20 | 6.82 | |||
| 601288 | 0.98 | 0.14 | 0.08 | 1.19 | 1.33 | 2.20 | 9.01 | |||
| 601398 | 1.02 | 0.16 | 0.11 | 1.02 | 1.10 | 2.36 | 7.57 | |||
| 601668 | 1.45 | (0.04) | 0.00 | 1.44 | 0.00 | 3.80 | 12.80 | |||
| 601939 | 0.99 | 0.17 | 0.12 | 9.08 | 1.05 | 2.00 | 8.64 | |||
| 601857 | 1.07 | 0.06 | 0.04 | 0.87 | 1.15 | 2.73 | 7.09 | |||
| 600028 | 0.98 | (0.04) | 0.00 | (0.28) | 0.00 | 2.05 | 7.82 | |||
| 601988 | 0.89 | 0.19 | 0.16 | 28.63 | 0.83 | 1.90 | 6.70 | |||
| 601390 | 1.41 | (0.07) | 0.00 | 1.29 | 0.00 | 2.03 | 14.47 |
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XCMG Construction Corporate Executives
Elected by the shareholders, the XCMG Construction's board of directors comprises two types of representatives: XCMG Construction inside directors who are chosen from within the company, and outside directors, selected externally and held independent of XCMG. The board's role is to monitor XCMG Construction's management team and ensure that shareholders' interests are well served. XCMG Construction'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, XCMG Construction's outside directors are responsible for providing unbiased perspectives on the board's policies.