Hengyi Petrochemical Correlations
| 000703 Stock | 6.02 0.07 1.15% |
The current 90-days correlation between Hengyi Petrochemical and Zijin Mining Group is 0.52 (i.e., Very weak diversification). The correlation of Hengyi Petrochemical 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.
Hengyi Petrochemical Correlation With Market
Good diversification
The correlation between Hengyi Petrochemical Co and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hengyi Petrochemical Co and DJI in the same portfolio, assuming nothing else is changed.
Hengyi |
The ability to find closely correlated positions to Hengyi Petrochemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hengyi Petrochemical 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 Hengyi Petrochemical - 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 Hengyi Petrochemical Co to buy it.
Moving together with Hengyi Stock
| 0.68 | 600309 | Wanhua Chemical Group | PairCorr |
| 0.64 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.87 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.61 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.73 | 000807 | Yunnan Aluminium | PairCorr |
| 0.73 | 600036 | China Merchants Bank | PairCorr |
| 0.74 | 300608 | SI TECH Information | PairCorr |
| 0.67 | 002074 | Gotion High tech | PairCorr |
| 0.85 | 000661 | Changchun High New | PairCorr |
| 0.68 | 601598 | Sinotrans Class | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Hengyi Stock performing well and Hengyi Petrochemical 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 Hengyi Petrochemical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601899 | 1.62 | 0.05 | 0.01 | 0.36 | 2.02 | 3.26 | 10.10 | |||
| 600309 | 1.76 | 0.02 | 0.00 | 0.07 | 2.31 | 3.92 | 16.38 | |||
| 600019 | 1.67 | 0.38 | 0.13 | 2.01 | 2.05 | 4.80 | 17.37 | |||
| 600547 | 1.35 | (0.15) | 0.00 | 2.76 | 0.00 | 2.39 | 12.15 | |||
| 002493 | 1.52 | 0.18 | 0.07 | 1.05 | 1.97 | 4.12 | 15.52 | |||
| 600010 | 2.47 | 0.51 | 0.17 | 1.26 | 2.46 | 7.46 | 19.48 | |||
| 002460 | 3.21 | 0.61 | 0.17 | 3.89 | 3.09 | 9.99 | 20.00 | |||
| 603260 | 2.02 | 0.25 | 0.08 | 13.91 | 2.50 | 4.90 | 17.89 | |||
| 600160 | 2.11 | 0.60 | 0.24 | (2.35) | 1.85 | 6.09 | 15.23 | |||
| 000807 | 2.00 | 0.34 | 0.12 | 3.85 | 2.27 | 5.75 | 15.53 |
Be your own money manager
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Hengyi Petrochemical Corporate Executives
Elected by the shareholders, the Hengyi Petrochemical's board of directors comprises two types of representatives: Hengyi Petrochemical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hengyi. The board's role is to monitor Hengyi Petrochemical's management team and ensure that shareholders' interests are well served. Hengyi Petrochemical'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, Hengyi Petrochemical's outside directors are responsible for providing unbiased perspectives on the board's policies.