China Fund Correlations

508028 Stock

11.03 0.03 0.27%

The current 90-days correlation between China Fund Management and Shenzhen Kexin Communication is -0.02 (i.e., Good diversification). The correlation of China Fund 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.

China Fund Correlation With Market

Good diversification

The correlation between China Fund Management and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Fund Management and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with China Stock

0.63

600036

China Merchants Bank

Pair Corr

Moving against China Stock

0.84	600898	Gome Telecom Equipment	Pair Corr
0.69	002217	Holitech Technology	Pair Corr
0.68	600715	Cultural Investment	Pair Corr
0.59	600941	China Mobile Limited	Pair Corr
0.57	000980	Zotye Automobile	Pair Corr
0.56	601857	PetroChina	Pair Corr
0.56	900921	Danhua Chemical Tech	Pair Corr

Related Correlations Analysis

	300565	600419	603317	002714	605388	002318	600300
300565		0.77	0.62	0.58	0.74	-0.04	0.56	300565
600419	0.77		0.56	0.69	0.86	-0.26	0.69	600419
603317	0.62	0.56		0.67	0.74	0.37	0.58	603317
002714	0.58	0.69	0.67		0.76	0.05	0.65	002714
605388	0.74	0.86	0.74	0.76		-0.08	0.86	605388
002318	-0.04	-0.26	0.37	0.05	-0.08		0.08	002318
600300	0.56	0.69	0.58	0.65	0.86	0.08		600300
	300565	600419	603317	002714	605388	002318	600300

Click cells to compare fundamentals

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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

605388	+ 0.86	600419
600300	+ 0.86	605388
600419	+ 0.77	300565
605388	+ 0.76	002714
605388	+ 0.74	300565
605388	+ 0.74	603317

High negative correlations

002318	- 0.26	600419
002318	- 0.08	605388
002318	- 0.04	300565

Risk-Adjusted Indicators

There is a big difference between China Stock performing well and China Fund 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 China Fund'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
300565	2.86	(0.13)	0.00	0.12	0.00	0.00	4.95	(5.65)	25.49
600419	1.96	(0.07)	0.00	4.98	0.00	0.00	3.97	(4.91)	14.59
603317	1.30	(0.13)	0.00	(0.70)	0.00	0.00	3.08	(2.78)	8.33
002714	0.93	(0.04)	0.00	0.23	0.00	0.00	1.84	(1.81)	7.06
605388	2.01	(0.22)	0.00	(6.57)	0.00	0.00	3.16	(3.96)	14.02
002318	1.11	0.09	0.07	0.46	1.09	(1.24)	2.69	(1.88)	4.84
600300	1.99	(0.10)	0.00	(11.99)	0.00	0.00	4.90	(4.00)	13.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in China Fund 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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