Zhejiang Juhua Correlations

600160 Stock

23.90 0.40 1.65%

The current 90-days correlation between Zhejiang Juhua and Nexchip Semiconductor Corp is -0.02 (i.e., Good diversification). The correlation of Zhejiang Juhua 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.

Zhejiang Juhua Correlation With Market

Significant diversification

The correlation between Zhejiang Juhua Co and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Juhua Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Zhejiang Stock

0.69	002493	Rongsheng Petrochemical	Pair Corr
0.67	603260	Hoshine Silicon Ind	Pair Corr
0.64	600309	Wanhua Chemical Group	Pair Corr
0.58	600010	Inner Mongolia BaoTou	Pair Corr
0.49	300750	Contemporary Amperex	Pair Corr
0.47	600941	China Mobile Limited	Pair Corr
0.39	002460	Jiangxi Ganfeng Lithium	Pair Corr

Related Correlations Analysis

	300046	603983	688249	688372	603501	300223	688639
300046		-0.02	0.79	-0.22	-0.15	0.24	0.67	300046
603983	-0.02		-0.22	0.0	-0.06	-0.06	0.1	603983
688249	0.79	-0.22		-0.02	-0.06	0.3	0.58	688249
688372	-0.22	0.0	-0.02		0.91	0.85	0.01	688372
603501	-0.15	-0.06	-0.06	0.91		0.83	0.13	603501
300223	0.24	-0.06	0.3	0.85	0.83		0.37	300223
688639	0.67	0.1	0.58	0.01	0.13	0.37		688639
	300046	603983	688249	688372	603501	300223	688639

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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

603501	+ 0.91	688372
300223	+ 0.85	688372
300223	+ 0.83	603501
688249	+ 0.79	300046
688639	+ 0.67	300046
688639	+ 0.58	688249

High negative correlations

688249	- 0.22	603983
688372	- 0.22	300046
603501	- 0.15	300046
603501	- 0.06	688249
300223	- 0.06	603983
603501	- 0.06	603983

Risk-Adjusted Indicators

There is a big difference between Zhejiang Stock performing well and Zhejiang Juhua 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 Zhejiang Juhua'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
300046	2.65	(0.32)	0.00	2.68	0.00	0.00	5.84	(5.96)	17.78
603983	2.09	0.15	0.08	(1.08)	2.22	(2.46)	3.74	(3.76)	15.70
688249	1.76	(0.28)	0.00	(26.91)	0.00	0.00	4.26	(3.87)	9.46
688372	2.53	0.36	0.16	(2.38)	2.22	(2.94)	7.15	(3.99)	19.11
603501	2.03	0.51	0.26	1.28	1.73	(2.38)	5.01	(3.32)	15.05
300223	2.77	0.15	0.06	2.53	3.06	(3.42)	7.42	(5.82)	22.08
688639	1.72	(0.31)	0.00	0.76	0.00	0.00	3.24	(4.12)	18.91

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zhejiang Juhua 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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Zhejiang Juhua Corporate Management

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

Jianxun Han	Deputy Manager	Profile
Jilin Zheng	Deputy Manager	Profile
Xiao Hu	Deputy Manager	Profile
Shao Wang	Deputy Manager	Profile

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