Shandong Iron Correlations

600022 Stock

1.41 0.01 0.71%

The current 90-days correlation between Shandong Iron and Beijing Easpring Material is 0.29 (i.e., Modest diversification). The correlation of Shandong Iron 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 Shandong Iron could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shandong Iron 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 Shandong Iron - 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 Shandong Iron and to buy it.

Moving together with Shandong Stock

0.87	600309	Wanhua Chemical Group	Pair Corr
0.93	002493	Rongsheng Petrochemical	Pair Corr
0.93	600010	Inner Mongolia BaoTou	Pair Corr
0.77	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.88	603260	Hoshine Silicon Ind	Pair Corr
0.85	601628	China Life Insurance Earnings Call This Week	Pair Corr
0.88	601318	Ping An Insurance Earnings Call Tomorrow	Pair Corr
0.65	601336	New China Life Earnings Call This Week	Pair Corr

Moving against Shandong Stock

0.78	600160	Zhejiang Juhua	Pair Corr
0.72	600000	Shanghai Pudong Deve	Pair Corr
0.68	601166	Industrial Bank	Pair Corr
0.64	601988	Bank of China Limited	Pair Corr
0.59	600036	China Merchants Bank Earnings Call This Week	Pair Corr
0.57	601398	Industrial and Commercial Earnings Call This Week	Pair Corr
0.36	601899	Zijin Mining Group Earnings Call This Week	Pair Corr
0.8	603986	GigaDevice SemiconductorBei	Pair Corr
0.43	600885	Hongfa Technology	Pair Corr
0.64	603306	HMTNew Technical	Pair Corr
0.61	002361	Anhui Shenjian New	Pair Corr
0.59	000506	Zhongrun Resources	Pair Corr
0.36	603045	Fuda Alloy Materials	Pair Corr

Related Correlations Analysis

	301123	603928	300852	300073	301379	688456	002149
301123		0.43	0.63	0.15	0.67	0.51	0.71	301123
603928	0.43		0.55	0.16	0.44	0.33	0.28	603928
300852	0.63	0.55		0.49	0.75	0.53	0.61	300852
300073	0.15	0.16	0.49		0.61	0.66	0.38	300073
301379	0.67	0.44	0.75	0.61		0.75	0.87	301379
688456	0.51	0.33	0.53	0.66	0.75		0.74	688456
002149	0.71	0.28	0.61	0.38	0.87	0.74		002149
	301123	603928	300852	300073	301379	688456	002149

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Risk-Adjusted Indicators

There is a big difference between Shandong Stock performing well and Shandong Iron 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 Shandong Iron'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
301123	3.13	0.39	0.15	(0.77)	3.48	(3.59)	6.75	(6.24)	31.05
603928	2.69	0.24	0.10	(1.35)	3.14	(3.11)	9.99	(5.37)	20.02
300852	2.86	0.61	0.21	0.50	2.68	(3.63)	7.12	(5.24)	16.61
300073	1.82	0.04	0.06	2.08	2.22	(1.76)	3.90	(3.83)	12.09
301379	2.68	0.76	0.30	(10.21)	2.45	(3.13)	5.35	(4.80)	19.76
688456	1.78	0.30	0.21	2.56	1.74	(2.08)	3.77	(2.89)	8.22
002149	2.72	0.65	0.27	4.75	2.36	(3.16)	6.72	(3.90)	13.43

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shandong Iron 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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Shandong Iron Corporate Management

Elected by the shareholders, the Shandong Iron's board of directors comprises two types of representatives: Shandong Iron inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shandong. The board's role is to monitor Shandong Iron's management team and ensure that shareholders' interests are well served. Shandong Iron'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, Shandong Iron's outside directors are responsible for providing unbiased perspectives on the board's policies.

Yunyi Guo	Secretary	Profile
Lishan Jin	Secretary Board	Profile
Runsheng Zhang	Deputy Manager	Profile
Ming Lu	General Manager	Profile

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