COSCO Shipping Correlations

600026 Stock

11.51 0.14 1.23%

The current 90-days correlation between COSCO Shipping Energy and Ming Yang Smart is -0.04 (i.e., Good diversification). The correlation of COSCO Shipping 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.

COSCO Shipping Correlation With Market

Average diversification

The correlation between COSCO Shipping Energy and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding COSCO Shipping Energy and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to COSCO Shipping could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace COSCO Shipping 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 COSCO Shipping - 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 COSCO Shipping Energy to buy it.

Moving against COSCO Stock

0.67	603127	Joinn Laboratories(Chi	Pair Corr
0.66	603300	Zhejiang Huatie Constr	Pair Corr
0.65	603351	Nanjing Well Pharmac	Pair Corr
0.64	002326	Zhejiang Yongtai Tec	Pair Corr
0.63	601728	China Telecom Corp Earnings Call This Week	Pair Corr
0.63	300143	INKON Life Technology	Pair Corr
0.63	688327	Cloudwalk Technology	Pair Corr
0.6	002402	Shenzhen HT Intelligent	Pair Corr
0.58	600588	Yonyou Network Technology	Pair Corr
0.55	603950	Xiangyang Changyuan	Pair Corr
0.54	002517	Kingnet Network	Pair Corr
0.54	688232	Guotai Epoint Software	Pair Corr
0.51	300113	Hangzhou Shunwang Tech	Pair Corr
0.45	003021	Henzhen Zhaowei Machinery	Pair Corr
0.45	000559	Wanxiang Qianchao	Pair Corr
0.44	688235	BeiGene	Pair Corr
0.4	601398	Industrial and Commercial Earnings Call This Week	Pair Corr
0.39	605060	Allied Machinery	Pair Corr
0.32	601288	Agricultural Bank Earnings Call This Week	Pair Corr
0.32	002311	Guangdong Haid Group	Pair Corr
0.72	603067	Hubei Zhenhua Chemical	Pair Corr
0.66	000710	Berry Genomics	Pair Corr
0.65	688166	BrightGene Bio Medical	Pair Corr
0.63	688007	Appotronics Corp	Pair Corr
0.61	688401	Shenzhen Newway Photomask	Pair Corr
0.61	300846	Capitalonline Data	Pair Corr
0.59	688776	Guoguang Electric	Pair Corr
0.59	300850	Luoyang Xinqianglian	Pair Corr
0.57	600809	Shanxi Xinghuacun Fen	Pair Corr
0.56	002049	Unigroup Guoxin Micr	Pair Corr
0.52	002173	Innovative Medical	Pair Corr

Related Correlations Analysis

	601336	601615	159681	159005	300729	002952	516220	002096	002999	300243
601336		0.6	0.82	-0.21	0.61	0.51	0.7	0.55	0.58	0.62	601336
601615	0.6		0.58	-0.76	0.32	0.85	0.46	0.86	0.62	0.58	601615
159681	0.82	0.58		-0.13	0.79	0.48	0.81	0.55	0.8	0.81	159681
159005	-0.21	-0.76	-0.13		0.19	-0.71	0.13	-0.52	-0.16	0.01	159005
300729	0.61	0.32	0.79	0.19		0.25	0.76	0.35	0.76	0.77	300729
002952	0.51	0.85	0.48	-0.71	0.25		0.37	0.79	0.38	0.38	002952
516220	0.7	0.46	0.81	0.13	0.76	0.37		0.56	0.76	0.84	516220
002096	0.55	0.86	0.55	-0.52	0.35	0.79	0.56		0.55	0.63	002096
002999	0.58	0.62	0.8	-0.16	0.76	0.38	0.76	0.55		0.86	002999
300243	0.62	0.58	0.81	0.01	0.77	0.38	0.84	0.63	0.86		300243
	601336	601615	159681	159005	300729	002952	516220	002096	002999	300243

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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

002096	+ 0.86	601615
300243	+ 0.86	002999
002952	+ 0.85	601615
300243	+ 0.84	516220
159681	+ 0.82	601336
516220	+ 0.81	159681

High negative correlations

159005	- 0.76	601615
002952	- 0.71	159005
002096	- 0.52	159005
159005	- 0.21	601336
002999	- 0.16	159005
159005	- 0.13	159681

Risk-Adjusted Indicators

There is a big difference between COSCO Stock performing well and COSCO Shipping 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 COSCO Shipping'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
601336	1.88	0.26	0.14	0.33	2.09	(2.21)	3.78	(4.40)	11.66
601615	1.65	(0.28)	0.00	(1.94)	0.00	0.00	2.71	(3.82)	8.71
159681	1.25	(0.02)	0.00	(0.24)	0.00	0.00	3.19	(2.97)	8.68
159005	0.01	0.00	0.00	1.15	0.00	0.00	0.00	0.00	0.14
300729	1.74	(0.01)	0.00	(0.36)	0.00	0.00	3.90	(4.21)	9.77
002952	2.45	(0.23)	0.00	(17.40)	0.00	0.00	4.60	(5.47)	20.01
516220	0.65	0.03	0.07	(0.42)	0.77	(1.69)	1.59	(1.59)	4.87
002096	1.36	(0.10)	0.00	(1.64)	0.00	0.00	3.21	(2.75)	8.58
002999	1.52	(0.11)	0.00	1.45	0.00	0.00	3.16	(3.87)	10.25
300243	1.69	(0.10)	0.00	(11.16)	0.00	0.00	3.48	(3.94)	11.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in COSCO Shipping 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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COSCO Shipping Corporate Management

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

Bozheng Yu	Deputy Manager	Profile
Zhuoqiong Li	General Officer	Profile
Tian Chao	Financial Controller	Profile
Jiong Qin	Deputy Manager	Profile
Yongmin Xiang	G Accountant	Profile
Yuming Luo	Deputy Manager	Profile
Yongqiang Ren	Executive Board	Profile

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