Aerospace Correlations

000901 Stock   12.05  0.37  3.17%   
The current 90-days correlation between Aerospace Hi Tech and Beijing Roborock Technology is 0.54 (i.e., Very weak diversification). The correlation of Aerospace 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.

Aerospace Correlation With Market

Good diversification

The correlation between Aerospace Hi Tech Holding and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aerospace Hi Tech Holding and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Aerospace could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aerospace 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 Aerospace - 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 Aerospace Hi Tech Holding to buy it.

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   
300750000661
002371000661
300750002371
000661600519
300750600519
000661688235
  
High negative correlations   
688399600941
002371688169
300750688399
300750688169

Risk-Adjusted Indicators

There is a big difference between Aerospace Stock performing well and Aerospace 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 Aerospace'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
688235  2.58  0.22  0.07  0.35  3.03 
 6.23 
 18.86 
600519  1.68  0.22  0.10  0.80  1.75 
 6.55 
 16.71 
688169  3.10  0.04  0.01  0.38  4.00 
 5.74 
 34.80 
603444  2.61  0.31  0.08 (2.44) 3.33 
 5.75 
 18.75 
600941  1.07  0.20  0.16 (4.34) 0.97 
 3.09 
 8.38 
688399  2.00 (0.09) 0.00  0.21  0.00 
 4.04 
 20.86 
000661  2.33  0.43  0.19  4.42  1.97 
 7.55 
 17.13 
002371  2.40  0.48  0.17  1.76  2.23 
 9.80 
 15.93 
300750  2.78  0.66  0.18 (10.97) 3.07 
 7.94 
 33.42 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Aerospace 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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Aerospace Corporate Management

Elected by the shareholders, the Aerospace's board of directors comprises two types of representatives: Aerospace inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Aerospace. The board's role is to monitor Aerospace's management team and ensure that shareholders' interests are well served. Aerospace'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, Aerospace's outside directors are responsible for providing unbiased perspectives on the board's policies.
Lupeng GuoDeputy ManagerProfile
Xiao GuoDeputy MangProfile
Jing SiDeputy ManagerProfile
Guo FengDeputy MangProfile
Yuan XuDeputy MangProfile
Xue DengDeputy MangProfile