HeBei Jinniu Correlations
| 600722 Stock | 5.08 0.12 2.42% |
The current 90-days correlation between HeBei Jinniu Chemical and Central Plains Environment is 0.69 (i.e., Poor diversification). The correlation of HeBei Jinniu 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.
HeBei Jinniu Correlation With Market
Good diversification
The correlation between HeBei Jinniu Chemical and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HeBei Jinniu Chemical and DJI in the same portfolio, assuming nothing else is changed.
HeBei |
The ability to find closely correlated positions to HeBei Jinniu could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HeBei Jinniu 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 HeBei Jinniu - 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 HeBei Jinniu Chemical to buy it.
Moving together with HeBei Stock
| 0.82 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.86 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.91 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.95 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.87 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.89 | 600160 | Zhejiang Juhua | PairCorr |
| 0.76 | 000807 | Yunnan Aluminium | PairCorr |
| 0.8 | 601318 | Ping An Insurance | PairCorr |
| 0.75 | 600036 | China Merchants Bank | PairCorr |
| 0.62 | 601166 | Industrial Bank | PairCorr |
Moving against HeBei Stock
Related Correlations Analysis
| 0.89 | 0.94 | 0.95 | 0.96 | 0.91 | 0.92 | 000544 | ||
| 0.89 | 0.91 | 0.84 | 0.89 | 0.97 | 0.86 | 002303 | ||
| 0.94 | 0.91 | 0.89 | 0.93 | 0.94 | 0.93 | 600186 | ||
| 0.95 | 0.84 | 0.89 | 0.92 | 0.87 | 0.87 | 600874 | ||
| 0.96 | 0.89 | 0.93 | 0.92 | 0.91 | 0.88 | 300550 | ||
| 0.91 | 0.97 | 0.94 | 0.87 | 0.91 | 0.91 | 688466 | ||
| 0.92 | 0.86 | 0.93 | 0.87 | 0.88 | 0.91 | 002743 | ||
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Risk-Adjusted Indicators
There is a big difference between HeBei Stock performing well and HeBei Jinniu 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 HeBei Jinniu'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 000544 | 1.64 | 0.28 | 0.08 | 0.74 | 2.06 | 4.82 | 16.28 | |||
| 002303 | 2.34 | 0.76 | 0.15 | (1.77) | 2.99 | 7.25 | 20.06 | |||
| 600186 | 2.54 | 0.84 | 0.21 | 18.66 | 2.58 | 6.17 | 19.81 | |||
| 600874 | 1.64 | 0.10 | 0.00 | 0.44 | 2.64 | 4.50 | 14.80 | |||
| 300550 | 3.06 | 0.57 | 0.09 | (1.04) | 3.74 | 6.34 | 29.07 | |||
| 688466 | 2.57 | 0.71 | 0.17 | (10.32) | 2.91 | 5.63 | 26.28 | |||
| 002743 | 2.67 | 1.06 | 0.25 | (1.11) | 2.64 | 9.96 | 20.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in HeBei Jinniu 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?
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HeBei Jinniu Corporate Executives
Elected by the shareholders, the HeBei Jinniu's board of directors comprises two types of representatives: HeBei Jinniu inside directors who are chosen from within the company, and outside directors, selected externally and held independent of HeBei. The board's role is to monitor HeBei Jinniu's management team and ensure that shareholders' interests are well served. HeBei Jinniu'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, HeBei Jinniu's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Wenbin Zhang | CFO Accountant | Profile |