BYD Co Correlations

002594 Stock

372.00 27.99 7.00%

The current 90-days correlation between BYD Co and Peoples Insurance of is 0.27 (i.e., Modest diversification). The correlation of BYD Co 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.

BYD Co Correlation With Market

Average diversification

The correlation between BYD Co Ltd and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BYD Co Ltd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BYD Stock

0.79

600036

China Merchants Bank Earnings Call This Week

Pair Corr

Moving against BYD Stock

0.87	600938	CNOOC Limited	Pair Corr
0.85	601857	PetroChina Earnings Call This Week	Pair Corr
0.77	600028	China Petroleum Chemical	Pair Corr

Related Correlations Analysis

	601319	002348	300955	601658	002570	000402	002571	600015
601319		-0.24	0.38	0.85	0.29	0.76	-0.22	0.84	601319
002348	-0.24		0.58	-0.25	0.67	-0.1	0.71	-0.49	002348
300955	0.38	0.58		0.24	0.75	0.58	0.53	0.11	300955
601658	0.85	-0.25	0.24		0.18	0.56	-0.17	0.83	601658
002570	0.29	0.67	0.75	0.18		0.35	0.69	0.17	002570
000402	0.76	-0.1	0.58	0.56	0.35		-0.15	0.61	000402
002571	-0.22	0.71	0.53	-0.17	0.69	-0.15		-0.24	002571
600015	0.84	-0.49	0.11	0.83	0.17	0.61	-0.24		600015
	601319	002348	300955	601658	002570	000402	002571	600015

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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

601658	+ 0.85	601319
600015	+ 0.84	601319
600015	+ 0.83	601658
000402	+ 0.76	601319
002570	+ 0.75	300955
002571	+ 0.71	002348

High negative correlations

600015	- 0.49	002348
601658	- 0.25	002348
600015	- 0.24	002571
002348	- 0.24	601319
002571	- 0.22	601319
002571	- 0.17	601658

Risk-Adjusted Indicators

There is a big difference between BYD Stock performing well and BYD Co 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 BYD Co'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
601319	1.24	(0.10)	0.00	(0.54)	0.00	0.00	3.09	(3.33)	9.06
002348	3.09	0.14	0.04	0.42	3.96	(3.22)	9.89	(7.27)	18.16
300955	2.13	(0.28)	0.00	3.26	0.00	0.00	4.11	(6.16)	15.21
601658	0.95	(0.02)	0.00	(0.13)	0.00	0.00	1.97	(1.69)	8.59
002570	2.67	0.27	0.07	0.26	3.76	(2.58)	9.96	(7.44)	18.81
000402	1.79	(0.47)	0.00	(4.16)	0.00	0.00	2.36	(4.46)	9.77
002571	2.93	0.36	0.10	(1.03)	3.81	(2.90)	9.96	(7.84)	20.05
600015	0.90	(0.02)	0.00	(0.13)	0.00	0.00	1.89	(1.56)	6.31

Be your own money manager

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

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

Lin Ren	VP 21	Profile
Haijin Wang	Investor Manager	Profile
YaLin Zhou	VP CFO	Profile
ZhiQi He	Senior Division	Profile

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