Hua Xia Correlations
| 600015 Stock | 7.66 0.04 0.52% |
The current 90-days correlation between Hua Xia Bank and Tongyu Communication is 0.03 (i.e., Significant diversification). The correlation of Hua Xia 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.
Hua Xia Correlation With Market
Modest diversification
The correlation between Hua Xia Bank and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hua Xia Bank and DJI in the same portfolio, assuming nothing else is changed.
Hua |
The ability to find closely correlated positions to Hua Xia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hua Xia 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 Hua Xia - 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 Hua Xia Bank to buy it.
Moving together with Hua Stock
| 0.84 | 601658 | Postal Savings Bank Earnings Call This Week | PairCorr |
| 0.81 | 601328 | Bank of Communications Earnings Call This Week | PairCorr |
Moving against Hua Stock
| 0.76 | 300580 | Wuxi Best Precision | PairCorr |
| 0.75 | 300926 | Jiangsu Bojun Industrial | PairCorr |
| 0.74 | 688582 | Anhui XDLK Microsystem | PairCorr |
| 0.72 | 601166 | Industrial Bank Earnings Call Next Week | PairCorr |
| 0.63 | 600036 | China Merchants Bank Earnings Call This Week | PairCorr |
| 0.61 | 600588 | Yonyou Network Technology | PairCorr |
| 0.59 | 603890 | Suzhou Chunqiu Electronic | PairCorr |
| 0.59 | 002044 | Meinian Onehealth | PairCorr |
| 0.57 | 603662 | Keli Sensing Technology | PairCorr |
| 0.51 | 300735 | DBG Technology | PairCorr |
| 0.5 | 601789 | Ningbo Construction | PairCorr |
| 0.45 | 605277 | Xinya Electronic | PairCorr |
| 0.44 | 002705 | Guangdong Xinbao Ele | PairCorr |
| 0.41 | 688531 | Uxi Unicomp Technology | PairCorr |
| 0.35 | 603615 | Chahua Modern Housewares | PairCorr |
| 0.32 | 002182 | Nanjing Yunhai Special | PairCorr |
| 0.32 | 603002 | Epoxy Base Electronic | PairCorr |
| 0.31 | 601398 | Industrial and Commercial Earnings Call This Week | PairCorr |
| 0.8 | 688578 | Shanghai Allist Phar | PairCorr |
| 0.74 | 600183 | Shengyi Technology | PairCorr |
| 0.74 | 600114 | NBTM New Materials | PairCorr |
| 0.66 | 002582 | Haoxiangni Jujube | PairCorr |
| 0.64 | 600967 | Inner Mongolia First | PairCorr |
| 0.64 | 002629 | Zhejiang Renzhi | PairCorr |
| 0.63 | 300378 | Digiwin Software | PairCorr |
| 0.62 | 601231 | Universal Scientific | PairCorr |
| 0.56 | 300956 | Anhui Shiny Electronic | PairCorr |
| 0.55 | 300756 | Guangdong Jinma Ente | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Hua Stock performing well and Hua Xia 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 Hua Xia'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 002792 | 1.95 | 0.00 | 0.00 | (0.10) | 0.00 | 4.05 | 12.12 | |||
| 002054 | 1.57 | 0.04 | 0.06 | 1.26 | 2.28 | 3.46 | 10.87 | |||
| 002148 | 3.13 | 0.24 | 0.10 | (0.39) | 3.91 | 9.97 | 19.99 | |||
| 300825 | 2.30 | 0.06 | 0.04 | 0.25 | 3.11 | 5.45 | 15.39 | |||
| 300363 | 1.83 | (0.18) | 0.00 | 0.86 | 0.00 | 4.08 | 14.56 | |||
| 600345 | 2.46 | (0.14) | 0.00 | 0.20 | 0.00 | 7.62 | 15.92 | |||
| 600794 | 1.22 | (0.20) | 0.00 | (11.83) | 0.00 | 2.31 | 8.64 | |||
| 002454 | 1.36 | 0.08 | 0.07 | 0.38 | 2.13 | 2.67 | 9.70 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Hua Xia 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?
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Hua Xia Corporate Executives
Elected by the shareholders, the Hua Xia's board of directors comprises two types of representatives: Hua Xia inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hua. The board's role is to monitor Hua Xia's management team and ensure that shareholders' interests are well served. Hua Xia'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, Hua Xia's outside directors are responsible for providing unbiased perspectives on the board's policies.