Anhui Tongguan Correlations

Stocks . China . 
Stock . Anhui Tongguan Copper
301217 Stock   11.10  0.08  0.72%   
The current 90-days correlation between Anhui Tongguan Copper and China Reform Health is 0.48 (i.e., Very weak diversification). The correlation of Anhui Tongguan 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.
  
The ability to find closely correlated positions to Anhui Tongguan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Anhui Tongguan 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 Anhui Tongguan - 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 Anhui Tongguan Copper to buy it.

Moving together with Anhui Stock

  0.73600036 China Merchants BankPairCorr
  0.69601166 Industrial Bank Earnings Call TomorrowPairCorr
  0.74300530 Hunan Lead PowerPairCorr

Moving against Anhui Stock

  0.69601857 PetroChinaPairCorr

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   
000503
+ 0.88
300015
301408
+ 0.88
000503
301293
+ 0.88
000503
300247
+ 0.86
301408
300247
+ 0.84
000503
601002
+ 0.84
301293
  
High negative correlations   
601002
- 0.35
603313
301293
- 0.11
603313

Risk-Adjusted Indicators

There is a big difference between Anhui Stock performing well and Anhui Tongguan 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 Anhui Tongguan'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 Anhui Tongguan 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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