Shandong Iron Correlations

Stocks . China . 
Stock . Shandong Iron and
600022 Stock   1.40  0.01  0.71%   
The current 90-days correlation between Shandong Iron and Northking Information Technology is -0.08 (i.e., Good 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.

Shandong Iron Correlation With Market

Significant diversification

The correlation between Shandong Iron and and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shandong Iron and and DJI in the same portfolio, assuming nothing else is changed.
  
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

  0.88600309 Wanhua Chemical GroupPairCorr
  0.91002493 Rongsheng PetrochemicalPairCorr
  0.87600010 Inner Mongolia BaoTouPairCorr
  0.71002460 Jiangxi Ganfeng LithiumPairCorr
  0.87603260 Hoshine Silicon IndPairCorr
  0.84601628 China Life Insurance Earnings Call This WeekPairCorr
  0.84601318 Ping An Insurance Earnings Call TomorrowPairCorr
  0.77601336 New China Life Earnings Call This WeekPairCorr
  0.63300012 Centre Testing IntlPairCorr

Moving against Shandong Stock

  0.8600160 Zhejiang JuhuaPairCorr
  0.71600000 Shanghai Pudong DevePairCorr
  0.68601166 Industrial BankPairCorr
  0.58601988 Bank of China Limited Earnings Call Next WeekPairCorr
  0.58600036 China Merchants Bank Earnings Call This WeekPairCorr
  0.52601398 Industrial and Commercial Earnings Call This WeekPairCorr
  0.4601899 Zijin Mining Group Earnings Call This WeekPairCorr
  0.81603986 GigaDevice SemiconductorBeiPairCorr
  0.43600885 Hongfa TechnologyPairCorr
  0.6000506 Zhongrun ResourcesPairCorr
  0.43603045 Fuda Alloy MaterialsPairCorr
  0.43000737 North Copper ShanxiPairCorr

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   
002008
+ 0.9
002987
688151
+ 0.88
300682
688151
+ 0.83
002008
688151
+ 0.81
002987
300682
+ 0.81
301229
688122
+ 0.8
002987
  
High negative correlations   
300682
- 0.14
000729
688151
- 0.07
000729
002008
- 0.07
000729

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.

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 GuoSecretaryProfile
Lishan JinSecretary BoardProfile
Runsheng ZhangDeputy ManagerProfile
Ming LuGeneral ManagerProfile
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