China Fund Correlations

508028 Stock   10.66  0.02  0.19%   
The current 90-days correlation between China Fund Management and Zijin Mining Group is 0.21 (i.e., Modest 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 -0.1 (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

  0.74601398 Industrial and CommercialPairCorr
  0.69601988 Bank of China LimitedPairCorr
  0.86600036 China Merchants BankPairCorr
  0.84508096 AVIC Fund ManagementPairCorr
  0.64002582 Haoxiangni JujubePairCorr
  0.67180401 Penghua Shenzhen EnergyPairCorr
  0.75603306 HMTNew TechnicalPairCorr
  0.85301439 Weihai Honglin ElectronicPairCorr

Moving against China Stock

  0.87000517 Rongan PropertyPairCorr
  0.83600519 Kweichow MoutaiPairCorr
  0.83200012 CSG HoldingPairCorr
  0.75002303 Shenzhen MYS EnvironPairCorr
  0.72605368 Henan Lantian GasPairCorr
  0.71000937 Jizhong Energy ResourcesPairCorr
  0.53605377 Hangzhou Huawang NewPairCorr
  0.5601698 China Satellite CommPairCorr
  0.44300171 Shanghai Tofflon SciencePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
000042000526
000603601899
000603000878
601609000878
000878601899
000603000042
  
High negative correlations   
600110601899
000603600110
601609601899

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.

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.

Did you try this?

Run Positions Ratings Now

   

Positions Ratings

Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance
All  Next Launch Module