Hengli Petrochemical Correlations
| 600346 Stock | 15.34 0.12 0.79% |
The current 90-days correlation between Hengli Petrochemical and Zijin Mining Group is 0.5 (i.e., Very weak diversification). The correlation of Hengli Petrochemical 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.
Hengli Petrochemical Correlation With Market
Good diversification
The correlation between Hengli Petrochemical Co and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hengli Petrochemical Co and DJI in the same portfolio, assuming nothing else is changed.
Hengli |
The ability to find closely correlated positions to Hengli Petrochemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hengli Petrochemical 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 Hengli Petrochemical - 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 Hengli Petrochemical Co to buy it.
Moving together with Hengli Stock
| 0.89 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.88 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.74 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.71 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.77 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.85 | 600160 | Zhejiang Juhua | PairCorr |
| 0.82 | 000807 | Yunnan Aluminium | PairCorr |
| 0.62 | 601288 | Agricultural Bank | PairCorr |
| 0.77 | 601398 | Industrial and Commercial | PairCorr |
| 0.68 | 601988 | Bank of China | PairCorr |
| 0.66 | 601857 | PetroChina | PairCorr |
| 0.77 | 601658 | Postal Savings Bank | PairCorr |
| 0.85 | 601728 | China Telecom Corp | PairCorr |
| 0.67 | 601816 | Beijing Shanghai High | PairCorr |
| 0.77 | 002371 | NAURA Technology | PairCorr |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Hengli Stock performing well and Hengli Petrochemical 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 Hengli Petrochemical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601899 | 1.60 | 0.15 | 0.06 | (0.63) | 1.92 | 3.35 | 10.10 | |||
| 600309 | 1.77 | 0.11 | 0.04 | (0.83) | 2.27 | 3.92 | 16.38 | |||
| 600019 | 1.60 | 0.35 | 0.12 | (1.59) | 1.97 | 4.80 | 17.37 | |||
| 600547 | 1.39 | (0.06) | 0.00 | 0.37 | 0.00 | 2.59 | 12.15 | |||
| 002493 | 1.52 | 0.15 | 0.06 | (2.12) | 2.01 | 4.12 | 15.52 | |||
| 600010 | 2.42 | 0.59 | 0.19 | (0.78) | 2.40 | 7.46 | 19.48 | |||
| 002460 | 3.40 | 0.63 | 0.17 | 24.34 | 3.17 | 9.99 | 20.00 | |||
| 603260 | 2.05 | 0.33 | 0.11 | (1.06) | 2.54 | 4.90 | 17.89 | |||
| 600160 | 2.13 | 0.62 | 0.26 | 5.32 | 1.87 | 6.09 | 15.23 | |||
| 000807 | 2.05 | 0.40 | 0.16 | 0.89 | 2.18 | 5.75 | 15.53 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Hengli Petrochemical 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 Portfolio Comparator Now
Portfolio ComparatorCompare the composition, asset allocations and performance of any two portfolios in your account |
| All Next | Launch Module |
Hengli Petrochemical Corporate Management
Elected by the shareholders, the Hengli Petrochemical's board of directors comprises two types of representatives: Hengli Petrochemical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hengli. The board's role is to monitor Hengli Petrochemical's management team and ensure that shareholders' interests are well served. Hengli Petrochemical'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, Hengli Petrochemical's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Li Feng | S GM | Profile | |
| Liu Qianhan | Deputy Mang | Profile | |
| Wenyu Zhang | Deputy Manager | Profile | |
| Feng Li | Secretary GM | Profile |