Zhejiang Dahua Correlations

002236 Stock

17.06 0.15 0.87%

The correlation of Zhejiang Dahua 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.

Zhejiang Dahua Correlation With Market

Good diversification

The correlation between Zhejiang Dahua Technology and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Dahua Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Zhejiang Stock

0.62	601318	Ping An Insurance	Pair Corr
0.75	600036	China Merchants Bank	Pair Corr
0.68	601166	Industrial Bank	Pair Corr

Related Correlations Analysis

	600258	688466	600599	601665	300815	601818	000928	003027
600258		-0.27	0.79	-0.49	0.12	0.08	-0.02	0.34	600258
688466	-0.27		-0.6	0.84	0.8	0.53	0.81	0.67	688466
600599	0.79	-0.6		-0.82	-0.35	-0.28	-0.39	-0.09	600599
601665	-0.49	0.84	-0.82		0.7	0.51	0.73	0.5	601665
300815	0.12	0.8	-0.35	0.7		0.58	0.83	0.81	300815
601818	0.08	0.53	-0.28	0.51	0.58		0.52	0.49	601818
000928	-0.02	0.81	-0.39	0.73	0.83	0.52		0.73	000928
003027	0.34	0.67	-0.09	0.5	0.81	0.49	0.73		003027
	600258	688466	600599	601665	300815	601818	000928	003027

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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

601665	+ 0.84	688466
000928	+ 0.83	300815
000928	+ 0.81	688466
003027	+ 0.81	300815
300815	+ 0.8	688466
600599	+ 0.79	600258

High negative correlations

601665	- 0.82	600599
600599	- 0.6	688466
601665	- 0.49	600258
000928	- 0.39	600599
300815	- 0.35	600599
601818	- 0.28	600599

Risk-Adjusted Indicators

There is a big difference between Zhejiang Stock performing well and Zhejiang Dahua 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 Zhejiang Dahua'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
600258	1.05	(0.14)	0.00	(2.86)	0.00	0.00	2.13	(2.68)	6.88
688466	2.00	0.28	0.13	3.23	2.18	(2.41)	4.67	(4.01)	20.66
600599	2.20	(0.53)	0.00	3.36	0.00	0.00	4.98	(5.00)	10.04
601665	1.34	0.25	0.19	0.84	1.19	(1.63)	3.28	(2.55)	7.94
300815	1.46	0.15	0.10	(1.47)	1.64	(1.49)	3.52	(3.04)	9.59
601818	0.91	0.07	0.07	0.26	1.11	(1.04)	2.36	(1.63)	8.35
000928	1.33	0.04	0.03	0.12	1.69	(1.56)	2.22	(2.60)	15.40
003027	1.49	(0.01)	0.00	(0.08)	0.00	0.00	2.91	(3.36)	14.69

Be your own money manager

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

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

Jun Wu	Vice VP	Profile
Xiaolai Jiang	VP Center	Profile
Jian Wu	Senior Secretary	Profile
Xing Zhang	GM Pres	Profile

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