Yunnan Yuntianhua Correlations
| 600096 Stock | 22.46 0.11 0.49% |
The current 90-days correlation between Yunnan Yuntianhua and Gifore Agricultural Machinery is 0.52 (i.e., Very weak diversification). The correlation of Yunnan Yuntianhua 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.
Yunnan Yuntianhua Correlation With Market
Significant diversification
The correlation between Yunnan Yuntianhua Co and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yunnan Yuntianhua Co and DJI in the same portfolio, assuming nothing else is changed.
Yunnan |
The ability to find closely correlated positions to Yunnan Yuntianhua could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Yunnan Yuntianhua 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 Yunnan Yuntianhua - 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 Yunnan Yuntianhua Co to buy it.
Moving together with Yunnan Stock
| 0.61 | 601899 | Zijin Mining Group | PairCorr |
| 0.85 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.76 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.63 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.75 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.78 | 600160 | Zhejiang Juhua | PairCorr |
| 0.9 | 000807 | Yunnan Aluminium | PairCorr |
| 0.64 | 601398 | Industrial and Commercial | PairCorr |
| 0.75 | 601939 | China Construction Bank | PairCorr |
| 0.79 | 601658 | Postal Savings Bank | PairCorr |
| 0.7 | 601328 | Bank of Communications | PairCorr |
| 0.94 | 601318 | Ping An Insurance | PairCorr |
| 0.93 | 600036 | China Merchants Bank | PairCorr |
| 0.83 | 601166 | Industrial Bank | PairCorr |
| 0.73 | 601998 | China Citic Bank | PairCorr |
| 0.8 | 002371 | NAURA Technology | PairCorr |
Related Correlations Analysis
| 0.94 | 0.9 | 0.9 | 0.74 | 0.84 | 0.86 | 300022 | ||
| 0.94 | 0.94 | 0.96 | 0.74 | 0.92 | 0.92 | 002494 | ||
| 0.9 | 0.94 | 0.88 | 0.82 | 0.91 | 0.89 | 300281 | ||
| 0.9 | 0.96 | 0.88 | 0.63 | 0.88 | 0.87 | 600467 | ||
| 0.74 | 0.74 | 0.82 | 0.63 | 0.61 | 0.59 | 002572 | ||
| 0.84 | 0.92 | 0.91 | 0.88 | 0.61 | 0.91 | 002556 | ||
| 0.86 | 0.92 | 0.89 | 0.87 | 0.59 | 0.91 | 002293 | ||
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Risk-Adjusted Indicators
There is a big difference between Yunnan Stock performing well and Yunnan Yuntianhua 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 Yunnan Yuntianhua'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 300022 | 2.64 | 0.72 | 0.18 | (1.65) | 3.09 | 6.56 | 25.21 | |||
| 002494 | 2.26 | 0.61 | 0.16 | 3.25 | 2.95 | 4.18 | 17.66 | |||
| 300281 | 3.17 | 0.60 | 0.12 | 2.55 | 4.27 | 7.30 | 32.65 | |||
| 600467 | 3.78 | 0.96 | 0.22 | (4.79) | 3.70 | 10.00 | 20.21 | |||
| 002572 | 2.83 | 0.49 | 0.16 | 1.98 | 2.58 | 7.72 | 19.97 | |||
| 002556 | 2.22 | 0.51 | 0.15 | (8.75) | 2.93 | 5.30 | 20.06 | |||
| 002293 | 2.10 | 0.35 | 0.14 | 1.61 | 2.24 | 4.87 | 15.56 |
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Yunnan Yuntianhua Corporate Management
Elected by the shareholders, the Yunnan Yuntianhua's board of directors comprises two types of representatives: Yunnan Yuntianhua inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Yunnan. The board's role is to monitor Yunnan Yuntianhua's management team and ensure that shareholders' interests are well served. Yunnan Yuntianhua'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, Yunnan Yuntianhua's outside directors are responsible for providing unbiased perspectives on the board's policies.