CNPC Capital Correlations

000617 Stock

7.56 0.01 0.13%

The current 90-days correlation between CNPC Capital and Beijing Roborock Technology is 0.38 (i.e., Weak diversification). The correlation of CNPC Capital 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.

CNPC Capital Correlation With Market

Significant diversification

The correlation between CNPC Capital Co and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CNPC Capital Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CNPC Stock

0.7	601939	China Construction Bank	Pair Corr
0.85	601658	Postal Savings Bank	Pair Corr
0.98	601318	Ping An Insurance	Pair Corr
0.96	600036	China Merchants Bank	Pair Corr
0.88	601166	Industrial Bank	Pair Corr
0.78	601998	China Citic Bank	Pair Corr
0.88	688019	Anji Microelectronics	Pair Corr
0.71	000572	Haima Automobile	Pair Corr
0.92	900957	Shanghai Lingyun Ind	Pair Corr
0.88	002205	XinJiang GuoTong Pipeline	Pair Corr
0.89	600512	Tengda Construction	Pair Corr
0.83	002491	Tongding Interconnection	Pair Corr
0.96	605499	Eastroc Beverage Split	Pair Corr
0.76	000839	CITIC Guoan Information	Pair Corr
0.82	000598	Chengdu Xingrong Inv	Pair Corr
0.94	603008	Xilinmen Furniture	Pair Corr
0.85	600996	Guizhou BroadcastingTV	Pair Corr
0.87	900903	Dazhong Transportation	Pair Corr
0.84	300396	Dirui Industrial	Pair Corr
0.84	688298	Zhejiang Orient Gene	Pair Corr
0.93	300252	Kingsignal Technology	Pair Corr
0.8	002429	Shenzhen MTC	Pair Corr
0.9	600429	Beijing Sanyuan Foods	Pair Corr
0.79	688036	Shenzhen Transsion	Pair Corr
0.61	605577	Heilongjiang Publishing	Pair Corr
0.9	600030	CITIC Securities	Pair Corr
0.94	600399	Fushun Special Steel	Pair Corr
0.83	300074	AVCON Information Tech	Pair Corr
0.82	603180	Xiamen Goldenhome	Pair Corr
0.9	688203	Zhejiang HISUN Bioma	Pair Corr
0.93	301370	GKHT Medical Technology	Pair Corr
0.96	301236	iSoftStone Information	Pair Corr
0.93	600459	Sino Platinum Metals	Pair Corr

Related Correlations Analysis

	600519	603444	300750	002594	688169	200596	000596	300760	002371
600519		0.72	0.84	0.85	0.3	0.93	0.94	0.92	0.76	600519
603444	0.72		0.63	0.81	0.68	0.64	0.63	0.78	0.47	603444
300750	0.84	0.63		0.89	0.16	0.88	0.91	0.9	0.95	300750
002594	0.85	0.81	0.89		0.5	0.89	0.84	0.92	0.78	002594
688169	0.3	0.68	0.16	0.5		0.28	0.2	0.39	-0.04	688169
200596	0.93	0.64	0.88	0.89	0.28		0.96	0.91	0.85	200596
000596	0.94	0.63	0.91	0.84	0.2	0.96		0.93	0.89	000596
300760	0.92	0.78	0.9	0.92	0.39	0.91	0.93		0.82	300760
002371	0.76	0.47	0.95	0.78	-0.04	0.85	0.89	0.82		002371
	600519	603444	300750	002594	688169	200596	000596	300760	002371

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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

000596	+ 0.96	200596
002371	+ 0.95	300750
000596	+ 0.94	600519
200596	+ 0.93	600519
300760	+ 0.93	000596
300760	+ 0.92	600519

High negative correlations

002371

- 0.04

688169

Risk-Adjusted Indicators

There is a big difference between CNPC Stock performing well and CNPC Capital 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 CNPC Capital'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
600519	1.68	0.09	0.02	0.29	1.84	(1.98)	6.55	(2.98)	16.71
603444	2.68	0.25	0.06	0.60	3.16	(2.99)	5.21	(4.79)	18.75
300750	2.70	0.63	0.15	(20.91)	3.05	(3.29)	7.94	(3.41)	33.42
002594	1.90	0.21	0.08	0.43	1.93	(2.15)	5.74	(3.34)	14.84
688169	3.27	0.11	0.01	0.59	4.12	(3.62)	5.74	(5.72)	34.80
200596	1.90	0.13	0.01	1.67	2.28	(2.16)	4.80	(2.70)	18.31
000596	2.78	0.16	0.03	0.40	2.90	(3.26)	9.98	(4.36)	20.00
300760	2.29	0.14	0.02	0.49	2.72	(2.48)	9.90	(4.56)	19.76
002371	2.38	0.45	0.15	1.02	2.18	(2.63)	9.80	(3.99)	15.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in CNPC Capital 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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CNPC Capital Corporate Executives

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

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