Henan Shenhuo Correlations

000933 Stock

17.28 0.22 1.26%

The current 90-days correlation between Henan Shenhuo Coal and Shandong Gold Mining is 0.17 (i.e., Average diversification). The correlation of Henan Shenhuo 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.

Henan Shenhuo Correlation With Market

Good diversification

The correlation between Henan Shenhuo Coal and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Henan Shenhuo Coal and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Henan Stock

0.75	601899	Zijin Mining Group	Pair Corr
0.67	600309	Wanhua Chemical Group	Pair Corr
0.78	600019	Baoshan Iron Steel	Pair Corr
0.76	002493	Rongsheng Petrochemical	Pair Corr
0.65	603260	Hoshine Silicon Ind	Pair Corr
0.73	600160	Zhejiang Juhua	Pair Corr
0.65	601398	Industrial and Commercial	Pair Corr
0.73	601939	China Construction Bank	Pair Corr
0.91	600036	China Merchants Bank	Pair Corr
0.62	601857	PetroChina	Pair Corr
0.86	601166	Industrial Bank	Pair Corr
0.9	600000	Shanghai Pudong Deve	Pair Corr
0.91	601628	China Life Insurance	Pair Corr
0.93	601318	Ping An Insurance	Pair Corr
0.82	600958	Orient Sec	Pair Corr
0.74	600030	CITIC Securities	Pair Corr
0.7	000069	Shenzhen Overseas Chinese	Pair Corr
0.88	300896	Imeik Technology Dev	Pair Corr
0.88	601668	China State Construction	Pair Corr
0.69	001289	China Longyuan Power	Pair Corr
0.78	603993	China Molybdenum	Pair Corr
0.65	002432	Andon Health	Pair Corr
0.89	002594	BYD Co	Pair Corr
0.68	600597	Bright Dairy Food	Pair Corr
0.88	603816	Jason Furniture	Pair Corr
0.65	002459	JA Solar Technology	Pair Corr
0.71	002371	NAURA Technology	Pair Corr
0.83	300608	SI TECH Information	Pair Corr

Related Correlations Analysis

	601899	600309	600019	600547	002493	600010	002460	603260	600160	000807
601899		0.76	0.51	0.82	0.44	0.08	-0.01	0.28	0.41	0.69	601899
600309	0.76		0.42	0.66	0.57	0.1	0.07	0.34	0.36	0.55	600309
600019	0.51	0.42		0.03	0.86	0.79	0.74	0.8	0.91	0.85	600019
600547	0.82	0.66	0.03		-0.01	-0.45	-0.47	-0.17	-0.13	0.23	600547
002493	0.44	0.57	0.86	-0.01		0.8	0.81	0.88	0.89	0.79	002493
600010	0.08	0.1	0.79	-0.45	0.8		0.9	0.82	0.88	0.69	600010
002460	-0.01	0.07	0.74	-0.47	0.81	0.9		0.82	0.85	0.54	002460
603260	0.28	0.34	0.8	-0.17	0.88	0.82	0.82		0.87	0.74	603260
600160	0.41	0.36	0.91	-0.13	0.89	0.88	0.85	0.87		0.82	600160
000807	0.69	0.55	0.85	0.23	0.79	0.69	0.54	0.74	0.82		000807
	601899	600309	600019	600547	002493	600010	002460	603260	600160	000807

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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

600160	+ 0.91	600019
002460	+ 0.9	600010
600160	+ 0.89	002493
603260	+ 0.88	002493
600160	+ 0.88	600010
600160	+ 0.87	603260

High negative correlations

002460	- 0.47	600547
600010	- 0.45	600547
603260	- 0.17	600547
600160	- 0.13	600547
002493	- 0.01	600547
002460	- 0.01	601899

Risk-Adjusted Indicators

There is a big difference between Henan Stock performing well and Henan Shenhuo 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 Henan Shenhuo'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	1.66	0.10	0.01	(0.31)	2.10	(1.70)	3.35	(3.39)	10.10
600309	1.76	0.13	0.02	(0.54)	2.26	(2.00)	3.92	(3.47)	16.38
600019	1.60	0.28	0.08	(2.79)	2.09	(1.73)	4.80	(3.10)	17.37
600547	1.44	(0.11)	0.00	0.68	0.00	0.00	2.59	(3.22)	12.15
002493	1.53	0.15	0.04	(0.99)	2.02	(1.68)	4.12	(2.86)	15.52
600010	2.42	0.58	0.17	(0.67)	2.37	(3.20)	7.46	(4.00)	19.48
002460	3.42	0.61	0.15	(8.28)	3.18	(4.21)	9.99	(6.14)	20.00
603260	2.02	0.29	0.08	(1.38)	2.51	(2.24)	4.90	(3.79)	17.89
600160	2.14	0.62	0.25	3.42	1.87	(2.48)	6.09	(3.85)	15.23
000807	2.08	0.35	0.13	0.71	2.20	(2.45)	5.75	(3.27)	15.53

Be your own money manager

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

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

Yuanxun Li	Board Secretary	Profile
Congjie Han	Deputy Mang	Profile
Dexue Liu	Chief Accountant	Profile
Changwei Wu	Board Secretary	Profile
Wenzi Zhang	General Manager	Profile
Jingjun Zhang	Deputy Engineer	Profile
Zhongyuan Li	General Manager	Profile

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