Zhejiang Construction Correlations

Stocks . China . 
Stock . Zhejiang Construction Investment
002761 Stock   9.43  0.23  2.50%   
The current 90-days correlation between Zhejiang Construction and New Hope Dairy is -0.08 (i.e., Good diversification). The correlation of Zhejiang Construction 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 Construction Correlation With Market

Significant diversification

The correlation between Zhejiang Construction Investme and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Construction Investme and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Zhejiang Construction 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 Construction 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 Construction - 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 Construction Investment to buy it.

Moving together with Zhejiang Stock

  0.64601668 China State ConstructionPairCorr
  0.78600048 Poly Real EstatePairCorr
  0.89000002 China VankePairCorr
  0.64001979 China Merchants ShekouPairCorr
  0.85600325 Huafa IndustrialPairCorr
  0.76601995 China InternationalPairCorr
  0.7600519 Kweichow MoutaiPairCorr
  0.7600340 China Fortune LandPairCorr
  0.67300578 BizConf TelecomPairCorr
  0.71601698 China Satellite CommPairCorr

Moving against Zhejiang Stock

  0.87508058 CICC Fund ManagementPairCorr
  0.59180201 Ping An GuangzhouPairCorr
  0.6000933 Henan Shenhuo CoalPairCorr
  0.58688256 Cambricon TechnologiesPairCorr
  0.58300876 Guangdong Modern HighPairCorr
  0.57300811 Poco Holding CoPairCorr
  0.56601169 Bank of Beijing Co LtdPairCorr
  0.55180101 Bosera CMSK IndustrialPairCorr
  0.54603306 HMTNew TechnicalPairCorr
  0.46688123 Giantec SemiconductorPairCorr
  0.43600368 Guangxi Wuzhou CommuPairCorr
  0.42301439 Weihai Honglin ElectronicPairCorr
  0.32300814 Shenzhen Jove EnterprisePairCorr

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   
603336
+ 0.85
002231
002231
+ 0.84
605089
605089
+ 0.75
600300
603336
+ 0.73
605089
002231
+ 0.71
600300
002847
+ 0.61
002946
  
High negative correlations   
002847
- 0.38
600498
603336
- 0.29
002847
603336
- 0.26
600498
603336
- 0.26
002946
002231
- 0.21
002847
002231
- 0.15
002946

Risk-Adjusted Indicators

There is a big difference between Zhejiang Stock performing well and Zhejiang Construction 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 Construction'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.

Be your own money manager

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

Elected by the shareholders, the Zhejiang Construction's board of directors comprises two types of representatives: Zhejiang Construction 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 Construction's management team and ensure that shareholders' interests are well served. Zhejiang Construction'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 Construction's outside directors are responsible for providing unbiased perspectives on the board's policies.
Zhixiang WangFinancial ManagerProfile
Haiyan ChenChief CounselProfile
Lianjun WangBoard SecretaryProfile
Ying JiangChief EngineerProfile
Jianbo ZhongDeputy ManagerProfile
Wu FeiDeputy CounselProfile
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