Yunnan Chihong Correlations

Stocks . China . 
Stock . Yunnan Chihong ZincGermanium
600497 Stock   5.68  0.11  1.90%   
The current 90-days correlation between Yunnan Chihong ZincG and Jiangxi Ganfeng Lithium is 0.55 (i.e., Very weak diversification). The correlation of Yunnan Chihong 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 Chihong Correlation With Market

Good diversification

The correlation between Yunnan Chihong ZincGermanium and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yunnan Chihong ZincGermanium and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Yunnan Chihong 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 Chihong 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 Chihong - 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 Chihong ZincGermanium to buy it.

Moving together with Yunnan Stock

  0.83600019 Baoshan Iron SteelPairCorr
  0.8002493 Rongsheng PetrochemicalPairCorr
  0.91600010 Inner Mongolia BaoTouPairCorr
  0.77002460 Jiangxi Ganfeng LithiumPairCorr
  0.8603260 Hoshine Silicon IndPairCorr
  0.89600160 Zhejiang JuhuaPairCorr
  0.81000807 Yunnan AluminiumPairCorr
  0.86601628 China Life InsurancePairCorr
  0.83601059 Cinda SecuritiesPairCorr
  0.82688072 Piotech Inc APairCorr
  0.98601198 Dongxing SecPairCorr
  0.82688293 Shanghai OPM BiosciencesPairCorr
  0.79688126 National Silicon IndustryPairCorr
  0.84000504 Nanhua Bio MedicinePairCorr
  0.74000061 Shenzhen AgriculturalPairCorr
  0.87688012 Advanced Micro FabriPairCorr
  0.87000555 Digital China InformationPairCorr
  0.91000425 XCMG ConstructionPairCorr
  0.65603610 Keeson Technology CorpPairCorr
  0.85603259 WuXi AppTecPairCorr
  0.85002371 NAURA TechnologyPairCorr
  0.81002812 Yunnan Chuangxin NewPairCorr
  0.9601336 New China LifePairCorr
  0.78002998 Elite Color EnvironmentalPairCorr
  0.76300939 Shenzhen AV DisplayPairCorr
  0.89000408 Zangge HoldingPairCorr
  0.87002368 Taiji Computer CorpPairCorr
  0.87002382 Blue Sail MedicalPairCorr
  0.85300391 Kangyue TechnologyPairCorr
  0.77300729 Loctek Ergonomic TecPairCorr
  0.64002743 Anhui Fuhuang SteelPairCorr
  0.86000157 Zoomlion Heavy IndustryPairCorr

Related Correlations Analysis

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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   
600160
+ 0.88
600019
002460
+ 0.88
600010
600547
+ 0.87
601899
600160
+ 0.87
600010
600160
+ 0.84
603260
600160
+ 0.83
002460
  
High negative correlations   
600010
- 0.58
600547
002460
- 0.57
600547
600160
- 0.36
600547
603260
- 0.31
600547
002460
- 0.26
601899
600010
- 0.18
601899

Risk-Adjusted Indicators

There is a big difference between Yunnan Stock performing well and Yunnan Chihong 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 Chihong'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
601899  1.68  0.15  0.06 (0.53) 1.96 
(1.74)
 3.35 
(3.21)
 10.10 
600309  1.76  0.10  0.03 (0.45) 2.27 
(2.04)
 3.92 
(3.47)
 16.38 
600019  1.67  0.36  0.12 (1.72) 1.99 
(1.82)
 4.80 
(3.10)
 17.37 
600547  1.38 (0.08) 0.00  0.32  0.00 
 0.00 
 2.59 
(2.95)
 12.15 
002493  1.50  0.17  0.07 (3.73) 1.98 
(1.68)
 4.12 
(2.86)
 15.52 
600010  2.45  0.55  0.17 (0.71) 2.44 
(3.15)
 7.46 
(4.00)
 19.48 
002460  3.23  0.54  0.14 (2.24) 3.15 
(3.95)
 9.99 
(6.14)
 20.00 
603260  2.02  0.29  0.09 (0.74) 2.48 
(2.17)
 4.90 
(3.79)
 17.89 
600160  2.18  0.67  0.28  10.59  1.86 
(2.55)
 6.09 
(3.85)
 15.23 
000807  2.05  0.36  0.13  0.91  2.26 
(2.29)
 5.75 
(3.27)
 15.53 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Yunnan Chihong 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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