Citic Guoan Correlations

600084 Stock   6.39  0.11  1.75%   
The current 90-days correlation between Citic Guoan Wine and Shanghai OPM Biosciences is 0.52 (i.e., Very weak diversification). The correlation of Citic Guoan 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.

Citic Guoan Correlation With Market

Average diversification

The correlation between Citic Guoan Wine and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Citic Guoan Wine and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Citic Guoan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Citic Guoan 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 Citic Guoan - 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 Citic Guoan Wine to buy it.

Moving together with Citic Stock

  0.91200468 Nanjing Putian TelecPairCorr
  0.91600322 Tianjin Realty DevelPairCorr
  0.93300391 Kangyue TechnologyPairCorr
  0.93300301 Shenzhen Changfang LightPairCorr
  0.96000692 Shenyang Huitian ThermalPairCorr
  0.93300013 Jiangsu Xinning ModernPairCorr
  0.81688656 HOB Biotech GroupPairCorr
  0.88002371 NAURA TechnologyPairCorr

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   
688012688072
688293688072
688126601628
688012688293
688012601198
000504688293
  
High negative correlations   
603993688293

Risk-Adjusted Indicators

There is a big difference between Citic Stock performing well and Citic Guoan 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 Citic Guoan'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601628  2.06  0.35  0.10  0.93  2.37 
 6.42 
 20.00 
601059  2.55  0.50  0.12  87.08  2.90 
 7.96 
 20.10 
688072  3.93  0.85  0.18 (4.27) 3.44 
 12.54 
 30.46 
601198  2.93  0.81  0.17 (1.31) 2.99 
 10.03 
 20.42 
688293  3.85  1.17  0.19 (0.69) 3.80 
 11.22 
 29.27 
688126  3.51  0.81  0.20 (9.19) 2.90 
 14.22 
 29.35 
603993  1.97  0.26  0.05 (1.09) 2.22 
 4.35 
 14.34 
000504  2.80  0.68  0.16 (1.63) 2.90 
 7.89 
 17.21 
000061  1.59  0.59  0.22  2.53  1.48 
 4.90 
 15.40 
688012  3.61  0.91  0.22  5.78  2.93 
 13.55 
 29.70 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Citic Guoan 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?

Run Price Ceiling Movement Now

   

Price Ceiling Movement

Calculate and plot Price Ceiling Movement for different equity instruments
All  Next Launch Module

Citic Guoan Corporate Management

Elected by the shareholders, the Citic Guoan's board of directors comprises two types of representatives: Citic Guoan inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Citic. The board's role is to monitor Citic Guoan's management team and ensure that shareholders' interests are well served. Citic Guoan'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, Citic Guoan's outside directors are responsible for providing unbiased perspectives on the board's policies.
Li HuaiAssistant ManagerProfile
Shun ZhangS GMProfile
Wen HuDeputy AccountantProfile
Xin ChenAssistant MangProfile