Anyang Iron Correlations
| 600569 Stock | 1.95 0.05 2.63% |
The current 90-days correlation between Anyang Iron Steel and Anshan Senyuan Road is 0.15 (i.e., Average diversification). The correlation of Anyang Iron 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.
Anyang Iron Correlation With Market
Good diversification
The correlation between Anyang Iron Steel and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Anyang Iron Steel and DJI in the same portfolio, assuming nothing else is changed.
Anyang |
The ability to find closely correlated positions to Anyang Iron could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Anyang Iron 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 Anyang Iron - 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 Anyang Iron Steel to buy it.
Moving together with Anyang Stock
| 0.75 | 600309 | Wanhua Chemical Group | PairCorr |
| 0.68 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.85 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.71 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.86 | 603260 | Hoshine Silicon Ind | PairCorr |
Moving against Anyang Stock
| 0.69 | 600160 | Zhejiang Juhua | PairCorr |
| 0.66 | 600000 | Shanghai Pudong Deve | PairCorr |
| 0.46 | 601988 | Bank of China Limited Earnings Call This Week | PairCorr |
| 0.38 | 601166 | Industrial Bank Earnings Call This Week | PairCorr |
| 0.32 | 601398 | Industrial and Commercial Earnings Call Tomorrow | PairCorr |
Related Correlations Analysis
| 0.74 | 0.7 | 0.78 | 0.19 | 0.51 | 0.74 | 600006 | ||
| 0.74 | 0.66 | 0.82 | 0.45 | 0.73 | 0.87 | 300210 | ||
| 0.7 | 0.66 | 0.75 | -0.07 | 0.46 | 0.74 | 000572 | ||
| 0.78 | 0.82 | 0.75 | 0.36 | 0.64 | 0.88 | 900903 | ||
| 0.19 | 0.45 | -0.07 | 0.36 | 0.59 | 0.47 | 002249 | ||
| 0.51 | 0.73 | 0.46 | 0.64 | 0.59 | 0.67 | 002307 | ||
| 0.74 | 0.87 | 0.74 | 0.88 | 0.47 | 0.67 | 000917 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Anyang Stock performing well and Anyang Iron 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 Anyang Iron'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 600006 | 2.08 | (0.06) | 0.00 | 0.28 | 0.00 | 4.32 | 17.23 | |||
| 300210 | 2.74 | (0.16) | 0.00 | 0.17 | 0.00 | 5.24 | 26.53 | |||
| 000572 | 1.87 | (0.21) | 0.00 | (1.86) | 0.00 | 3.04 | 10.51 | |||
| 900903 | 0.99 | (0.11) | 0.00 | (3.49) | 0.00 | 4.55 | 8.89 | |||
| 002249 | 1.89 | 0.32 | 0.17 | 5.39 | 1.94 | 5.31 | 10.55 | |||
| 002307 | 2.61 | 0.03 | 0.00 | (0.03) | 0.00 | 9.97 | 18.56 | |||
| 000917 | 2.23 | (0.08) | 0.00 | 1.07 | 0.00 | 6.40 | 13.12 |
Be your own money manager
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Anyang Iron Corporate Management
Elected by the shareholders, the Anyang Iron's board of directors comprises two types of representatives: Anyang Iron inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Anyang. The board's role is to monitor Anyang Iron's management team and ensure that shareholders' interests are well served. Anyang Iron'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, Anyang Iron's outside directors are responsible for providing unbiased perspectives on the board's policies.