Hunan Tyen Correlations

600698 Stock

5.94 0.32 5.69%

The current 90-days correlation between Hunan Tyen Machinery and Shanghai Rightongene Biotechnology is 0.09 (i.e., Significant diversification). The correlation of Hunan Tyen 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.

Hunan Tyen Correlation With Market

Significant diversification

The correlation between Hunan Tyen Machinery and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hunan Tyen Machinery and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hunan Stock

0.61

300368

Hebei Huijin Electro

Pair Corr

Moving against Hunan Stock

0.56	600941	China Mobile Limited	Pair Corr
0.34	603958	Harson Trading China	Pair Corr
0.59	600368	Guangxi Wuzhou Commu	Pair Corr
0.57	601169	Bank of Beijing Co Ltd	Pair Corr

Related Correlations Analysis

	688363	688217	301022	688639	300972	300300	002368	688739
688363		0.27	0.51	0.87	-0.66	0.74	0.12	0.31	688363
688217	0.27		0.7	0.52	0.16	0.77	0.8	0.82	688217
301022	0.51	0.7		0.68	-0.01	0.83	0.7	0.81	301022
688639	0.87	0.52	0.68		-0.55	0.86	0.44	0.61	688639
300972	-0.66	0.16	-0.01	-0.55		-0.23	0.3	0.15	300972
300300	0.74	0.77	0.83	0.86	-0.23		0.64	0.78	300300
002368	0.12	0.8	0.7	0.44	0.3	0.64		0.92	002368
688739	0.31	0.82	0.81	0.61	0.15	0.78	0.92		688739
	688363	688217	301022	688639	300972	300300	002368	688739

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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

688739	+ 0.92	002368
688639	+ 0.87	688363
300300	+ 0.86	688639
300300	+ 0.83	301022
688739	+ 0.82	688217
688739	+ 0.81	301022

High negative correlations

300972	- 0.66	688363
300972	- 0.55	688639
300300	- 0.23	300972
300972	- 0.01	301022

Risk-Adjusted Indicators

There is a big difference between Hunan Stock performing well and Hunan Tyen 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 Hunan Tyen'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
688363	1.52	(0.38)	0.00	0.71	0.00	0.00	2.92	(3.36)	8.34
688217	2.17	0.03	0.01	0.14	3.35	(2.01)	5.40	(4.71)	23.46
301022	2.03	0.42	0.15	0.19	2.31	(2.20)	4.80	(5.26)	9.93
688639	1.81	(0.22)	0.00	1.43	0.00	0.00	3.48	(4.66)	18.91
300972	2.36	0.43	0.16	2.55	2.51	(2.78)	7.17	(4.96)	20.08
300300	2.21	(0.10)	0.00	0.78	0.00	0.00	4.08	(6.34)	13.62
002368	2.37	0.09	0.03	0.18	2.91	(2.46)	5.22	(4.72)	16.56
688739	1.22	0.05	0.04	(0.34)	1.52	(1.32)	3.49	(2.56)	12.18

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hunan Tyen 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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Hunan Tyen Corporate Management

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

Jia Xiaogang	Deputy Mang	Profile
Yan Xiaogang	Deputy Mang	Profile
Guoqi Yang	Deputy Manager	Profile
Guangqing He	Deputy Manager	Profile
Qinge Liu	General Accountant	Profile

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