China Asset Correlations

508068 Stock

3.82 0.04 1.06%

The current 90-days correlation between China Asset Management and Luyin Investment Group is -0.01 (i.e., Good diversification). The correlation of China Asset 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 Asset Correlation With Market

Average diversification

The correlation between China Asset Management and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Asset Management and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China Asset 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 Asset 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 Asset - 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 Asset Management to buy it.

Moving together with China Stock

0.77	601398	Industrial and Commercial	Pair Corr
0.74	601988	Bank of China Limited	Pair Corr
0.86	600036	China Merchants Bank	Pair Corr
0.76	508096	AVIC Fund Management	Pair Corr
0.7	002582	Haoxiangni Jujube	Pair Corr
0.74	180401	Penghua Shenzhen Energy	Pair Corr
0.76	603306	HMTNew Technical	Pair Corr
0.76	301439	Weihai Honglin Electronic	Pair Corr

Moving against China Stock

0.83	000517	Rongan Property	Pair Corr
0.83	200012	CSG Holding	Pair Corr
0.79	600519	Kweichow Moutai	Pair Corr
0.73	002303	Shenzhen MYS Environ	Pair Corr
0.69	000937	Jizhong Energy Resources	Pair Corr
0.68	605368	Henan Lantian Gas	Pair Corr
0.41	605377	Hangzhou Huawang New	Pair Corr
0.58	601698	China Satellite Comm	Pair Corr
0.49	300171	Shanghai Tofflon Science	Pair Corr
0.36	300578	BizConf Telecom	Pair Corr
0.34	301365	Matrix Design	Pair Corr

Related Correlations Analysis

	600784	000809	600110	603355	002461	002304	000638	600683
600784		-0.18	0.72	0.23	0.03	0.66	0.87	0.83	600784
000809	-0.18		-0.45	-0.41	0.46	-0.29	-0.28	-0.18	000809
600110	0.72	-0.45		0.2	-0.17	0.8	0.85	0.82	600110
603355	0.23	-0.41	0.2		0.0	-0.15	0.16	-0.07	603355
002461	0.03	0.46	-0.17	0.0		0.02	-0.18	-0.08	002461
002304	0.66	-0.29	0.8	-0.15	0.02		0.76	0.86	002304
000638	0.87	-0.28	0.85	0.16	-0.18	0.76		0.91	000638
600683	0.83	-0.18	0.82	-0.07	-0.08	0.86	0.91		600683
	600784	000809	600110	603355	002461	002304	000638	600683

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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

600683	+ 0.91	000638
000638	+ 0.87	600784
600683	+ 0.86	002304
000638	+ 0.85	600110
600683	+ 0.83	600784
600683	+ 0.82	600110

High negative correlations

600110	- 0.45	000809
603355	- 0.41	000809
002304	- 0.29	000809
000638	- 0.28	000809
000638	- 0.18	002461
600683	- 0.18	000809

Risk-Adjusted Indicators

There is a big difference between China Stock performing well and China Asset 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 Asset'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
600784	1.38	0.04	0.03	0.58	1.74	(1.52)	2.92	(3.09)	12.53
000809	2.08	0.11	0.06	(0.12)	2.46	(2.36)	4.93	(4.89)	10.10
600110	1.85	(0.09)	0.00	0.58	0.00	0.00	3.48	(3.58)	16.35
603355	1.34	0.10	0.07	0.36	1.69	(1.44)	3.94	(3.15)	7.97
002461	1.11	0.09	0.10	(0.24)	1.10	(1.29)	2.43	(1.95)	7.66
002304	0.81	(0.14)	0.00	(1.03)	0.00	0.00	1.38	(2.21)	4.85
000638	2.15	(0.10)	0.00	(0.93)	0.00	0.00	3.95	(4.74)	13.63
600683	2.06	(0.15)	0.00	2.48	0.00	0.00	3.08	(4.29)	15.26

Be your own money manager

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