Guangzhou Hongli Correlations

Stocks . China . 
Stock . Guangzhou Hongli Opto
300219 Stock   8.15  0.14  1.75%   
The current 90-days correlation between Guangzhou Hongli Opto and Tianjin Realty Development is 0.26 (i.e., Modest diversification). The correlation of Guangzhou Hongli 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.

Guangzhou Hongli Correlation With Market

Significant diversification

The correlation between Guangzhou Hongli Opto and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou Hongli Opto and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Guangzhou Hongli could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guangzhou Hongli 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 Guangzhou Hongli - 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 Guangzhou Hongli Opto to buy it.

Moving together with Guangzhou Stock

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  0.73600036 China Merchants BankPairCorr
  0.74601998 China Citic BankPairCorr
  0.89603969 Tianjin Silvery DragonPairCorr
  0.84601929 JiShi MediaPairCorr
  0.8000420 Jilin Chemical FibrePairCorr
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  0.86603313 HealthcarePairCorr
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  0.74002400 Guangdong AdvertisingPairCorr
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  0.64002217 Holitech TechnologyPairCorr
  0.89300433 Lens TechnologyPairCorr
  0.9688325 Guangdong CellwisePairCorr
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  0.88301379 Techshine ElectronicsPairCorr
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  0.84002946 New Hope DairyPairCorr
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  0.79600719 Dalian Thermal PowerPairCorr
  0.85600455 ButOne Information CorpPairCorr
  0.72600755 Xiamen ITG GroupPairCorr
  0.92300359 Qtone Education GroupPairCorr
  0.83688082 ACM Research ShanghaiPairCorr
  0.8301390 Hangzhou Gisway InfoPairCorr
  0.86002466 Sichuan Tianqi LithiumPairCorr
  0.83603818 Qumei Furniture GroupPairCorr
  0.78000560 5I5j Holding GroupPairCorr
  0.71000617 CNPC CapitalPairCorr
  0.82600515 Hainan HNA InfrastructurePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guangzhou Stock performing well and Guangzhou Hongli 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 Guangzhou Hongli'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 Guangzhou Hongli 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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Guangzhou Hongli Corporate Executives

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