Hainan HNA Correlations

Stocks . China . 
Stock . Hainan HNA Infrastructure
600515 Stock   3.91  0.12  3.17%   
The current 90-days correlation between Hainan HNA Infrastructure and Cinda Securities Co is 0.25 (i.e., Modest diversification). The correlation of Hainan HNA 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.

Hainan HNA Correlation With Market

Good diversification

The correlation between Hainan HNA Infrastructure and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hainan HNA Infrastructure and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hainan HNA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hainan HNA 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 Hainan HNA - 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 Hainan HNA Infrastructure to buy it.

Moving together with Hainan Stock

  0.69001979 China Merchants ShekouPairCorr
  0.71601995 China InternationalPairCorr
  0.75600153 Xiamen CDPairCorr
  0.83300750 Contemporary AmperexPairCorr
  0.89600340 China Fortune LandPairCorr
  0.8600498 Fiberhome TelecommunicatioPairCorr
  0.8603969 Tianjin Silvery DragonPairCorr
  0.78600455 ButOne Information CorpPairCorr
  0.64300433 Lens TechnologyPairCorr
  0.78002400 Guangdong AdvertisingPairCorr
  0.64300608 SI TECH InformationPairCorr
  0.84002217 Holitech TechnologyPairCorr
  0.81000560 5I5j Holding GroupPairCorr
  0.84002466 Sichuan Tianqi LithiumPairCorr
  0.82600633 Zhejiang Daily MediaPairCorr
  0.84000506 Zhongrun ResourcesPairCorr
  0.87688507 Shanghai Suochen InfPairCorr
  0.8002074 Gotion High techPairCorr
  0.74002575 Guangdong Qunxing ToysPairCorr
  0.79603365 Shanghai Shuixing HomePairCorr
  0.79000661 Changchun High NewPairCorr
  0.88300825 Iat Automobile TechnologyPairCorr
  0.81688325 Guangdong CellwisePairCorr
  0.85002303 Shenzhen MYS EnvironPairCorr
  0.86600335 Sinomach AutomobilePairCorr
  0.88603818 Qumei Furniture GroupPairCorr
  0.85002946 New Hope DairyPairCorr
  0.82300880 Ningbo Jianan ElectronicsPairCorr
  0.78301379 Techshine ElectronicsPairCorr
  0.87002382 Blue Sail MedicalPairCorr
  0.87300815 Eit EnvironmentalPairCorr
  0.79600719 Dalian Thermal PowerPairCorr
  0.81000909 Soyea TechnologyPairCorr

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   
688012
+ 0.98
688072
688293
+ 0.94
688072
601059
+ 0.93
601628
688012
+ 0.92
688293
688126
+ 0.89
601628
688012
+ 0.89
601198
  
High negative correlations   
000061
- 0.12
603993
603993
- 0.09
688293
603993
- 0.01
688072

Risk-Adjusted Indicators

There is a big difference between Hainan Stock performing well and Hainan HNA 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 Hainan HNA'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  2.13  0.35  0.11  0.90  2.54 
(2.30)
 6.42 
(3.94)
 20.00 
601059  2.41  0.37  0.11 (115.18) 2.75 
(2.84)
 7.43 
(4.36)
 20.10 
688072  3.67  0.63  0.16  5.74  3.44 
(4.61)
 11.70 
(6.63)
 30.46 
601198  2.71  0.60  0.16 (2.37) 2.90 
(2.96)
 9.99 
(5.54)
 20.42 
688293  3.60  0.76  0.17 (0.74) 3.65 
(3.96)
 11.13 
(5.59)
 29.27 
688126  3.51  0.73  0.21  3.54  2.91 
(4.66)
 14.22 
(5.02)
 29.35 
603993  1.85  0.09  0.03 (0.47) 2.34 
(2.07)
 4.34 
(3.73)
 14.34 
000504  2.71  0.40  0.12 (1.76) 2.93 
(3.01)
 7.29 
(4.46)
 17.21 
000061  1.66  0.52  0.22  1.21  1.67 
(1.92)
 4.90 
(2.61)
 15.40 
688012  3.33  0.73  0.21  1.50  2.90 
(3.96)
 12.89 
(5.17)
 29.70 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hainan HNA 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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