Sinomine Resource Correlations
| 002738 Stock | 37.34 0.44 1.16% |
The current 90-days correlation between Sinomine Resource and Zhejiang Juhua Co is 0.51 (i.e., Very weak diversification). The correlation of Sinomine Resource 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.
Sinomine |
The ability to find closely correlated positions to Sinomine Resource could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sinomine Resource 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 Sinomine Resource - 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 Sinomine Resource Exploration to buy it.
Moving together with Sinomine Stock
| 0.79 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.84 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.91 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.97 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.86 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.88 | 600160 | Zhejiang Juhua | PairCorr |
| 0.63 | 000807 | Yunnan Aluminium | PairCorr |
| 0.66 | 600519 | Kweichow Moutai | PairCorr |
| 0.92 | 300750 | Contemporary Amperex | PairCorr |
| 0.67 | 200596 | Anhui Gujing Distillery | PairCorr |
| 0.78 | 000596 | Anhui Gujing Distillery | PairCorr |
| 0.87 | 002371 | NAURA Technology | PairCorr |
| 0.63 | 300760 | Shenzhen Mindray Bio | PairCorr |
| 0.84 | 688656 | HOB Biotech Group | PairCorr |
Moving against Sinomine Stock
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Sinomine Stock performing well and Sinomine Resource 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 Sinomine Resource'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 | 3.35 | 10.10 | |||
| 600309 | 1.76 | 0.13 | 0.02 | (0.54) | 2.26 | 3.92 | 16.38 | |||
| 600019 | 1.60 | 0.28 | 0.08 | (2.79) | 2.09 | 4.80 | 17.37 | |||
| 600547 | 1.44 | (0.11) | 0.00 | 0.68 | 0.00 | 2.59 | 12.15 | |||
| 002493 | 1.53 | 0.15 | 0.04 | (0.99) | 2.02 | 4.12 | 15.52 | |||
| 600010 | 2.42 | 0.58 | 0.17 | (0.67) | 2.37 | 7.46 | 19.48 | |||
| 002460 | 3.42 | 0.61 | 0.15 | (8.28) | 3.18 | 9.99 | 20.00 | |||
| 603260 | 2.02 | 0.29 | 0.08 | (1.38) | 2.51 | 4.90 | 17.89 | |||
| 600160 | 2.14 | 0.62 | 0.25 | 3.42 | 1.87 | 6.09 | 15.23 | |||
| 000807 | 2.08 | 0.35 | 0.13 | 0.71 | 2.20 | 5.75 | 15.53 |
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Sinomine Resource Corporate Executives
Elected by the shareholders, the Sinomine Resource's board of directors comprises two types of representatives: Sinomine Resource inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Sinomine. The board's role is to monitor Sinomine Resource's management team and ensure that shareholders' interests are well served. Sinomine Resource'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, Sinomine Resource's outside directors are responsible for providing unbiased perspectives on the board's policies.