Central China Correlations

000719 Stock

11.38 0.33 2.99%

The current 90-days correlation between Central China Land and Hang Xiao Steel is 0.2 (i.e., Modest diversification). The correlation of Central China 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.

Central China Correlation With Market

Significant diversification

The correlation between Central China Land 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 Central China Land and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Central Stock

0.61	601939	China Construction Bank Earnings Call Today	Pair Corr
0.76	601628	China Life Insurance	Pair Corr

Moving against Central Stock

0.4

601166

Industrial Bank Earnings Call Tomorrow

Pair Corr

Related Correlations Analysis

	002951	301022	600477	688101	000761	688480	300565	600082
002951		-0.09	-0.08	0.15	-0.14	0.11	0.52	0.09	002951
301022	-0.09		0.75	0.76	0.87	0.85	0.45	0.62	301022
600477	-0.08	0.75		0.83	0.86	0.69	0.45	0.73	600477
688101	0.15	0.76	0.83		0.76	0.75	0.62	0.82	688101
000761	-0.14	0.87	0.86	0.76		0.79	0.34	0.63	000761
688480	0.11	0.85	0.69	0.75	0.79		0.65	0.63	688480
300565	0.52	0.45	0.45	0.62	0.34	0.65		0.65	300565
600082	0.09	0.62	0.73	0.82	0.63	0.63	0.65		600082
	002951	301022	600477	688101	000761	688480	300565	600082

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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

000761	+ 0.87	301022
000761	+ 0.86	600477
688480	+ 0.85	301022
688101	+ 0.83	600477
600082	+ 0.82	688101
688480	+ 0.79	000761

High negative correlations

000761	- 0.14	002951
301022	- 0.09	002951
600477	- 0.08	002951

Risk-Adjusted Indicators

There is a big difference between Central Stock performing well and Central China 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 Central China'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
002951	1.97	0.23	0.08	(2.77)	2.33	(2.14)	4.93	(4.93)	10.08
301022	2.72	0.23	0.06	0.29	3.59	(2.73)	4.80	(5.28)	29.91
600477	1.58	(0.05)	0.00	0.09	0.00	0.00	3.08	(3.21)	16.17
688101	1.09	(0.03)	0.00	0.26	0.00	0.00	1.85	(2.58)	6.18
000761	2.37	0.19	0.07	(0.53)	2.30	(3.60)	9.97	(3.82)	18.84
688480	1.62	0.23	0.13	(0.46)	1.53	(1.95)	4.58	(2.65)	12.29
300565	2.86	(0.13)	0.00	0.12	0.00	0.00	4.95	(5.65)	25.49
600082	1.72	(0.23)	0.00	2.31	0.00	0.00	2.45	(6.07)	14.71

Be your own money manager

Our tools can tell you how much better you can do entering a position in Central China 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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