Hunan Mendale Correlations

002397 Stock   3.20  0.02  0.63%   
The current 90-days correlation between Hunan Mendale Hometextile and Chengdu Kanghua Biological is 0.64 (i.e., Poor diversification). The correlation of Hunan Mendale 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.

Hunan Mendale Correlation With Market

Significant diversification

The correlation between Hunan Mendale Hometextile and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hunan Mendale Hometextile and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hunan Mendale could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hunan Mendale 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 Hunan Mendale - 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 Hunan Mendale Hometextile to buy it.

Moving together with Hunan Stock

  0.66600519 Kweichow MoutaiPairCorr
  0.87300750 Contemporary AmperexPairCorr
  0.65002594 BYD CoPairCorr
  0.71200596 Anhui Gujing DistilleryPairCorr
  0.76000596 Anhui Gujing DistilleryPairCorr
  0.89002371 NAURA TechnologyPairCorr
  0.69300760 Shenzhen Mindray BioPairCorr
  0.81002236 Zhejiang Dahua TechnologyPairCorr
  0.83900957 Shanghai Lingyun IndPairCorr
  0.84000553 ADAMAPairCorr
  0.92600742 Changchun Faway AutoPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Hunan Stock performing well and Hunan Mendale 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 Hunan Mendale'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
300841  2.67  0.34  0.06 (5.45) 3.31 
 4.85 
 32.68 
603392  1.74  0.08 (0.01) 0.68  1.97 
 3.89 
 16.51 
688137  1.92  0.33  0.07  6.02  2.69 
 5.14 
 22.24 
601600  2.11  0.18  0.02  2.09  2.80 
 6.09 
 17.74 
300364  4.17  1.04  0.17 (1.57) 4.37 
 9.53 
 34.75 
001299  2.00  0.33  0.08 (11.24) 2.15 
 4.33 
 15.29 
000995  3.64  0.93  0.19  3.97  3.64 
 10.00 
 20.01 
600223  1.86  0.22  0.04  2.72  2.53 
 4.58 
 16.41 
605168  3.03  0.63  0.14  2.07  3.25 
 9.43 
 19.99 

Be your own money manager

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

Elected by the shareholders, the Hunan Mendale's board of directors comprises two types of representatives: Hunan Mendale inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hunan. The board's role is to monitor Hunan Mendale's management team and ensure that shareholders' interests are well served. Hunan Mendale'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, Hunan Mendale's outside directors are responsible for providing unbiased perspectives on the board's policies.
Aichun ZhangDeputy MangProfile
Huihua HuangGeneral ManagerProfile
Xiao HeDeputy ManagerProfile
Jian WenDeputy ManagerProfile
Yunlong LiFinancial SupervisorProfile