Shaanxi Construction Correlations

600984 Stock

3.47 0.05 1.42%

The current 90-days correlation between Shaanxi Construction and Winner Information Technology is 0.22 (i.e., Modest diversification). The correlation of Shaanxi Construction 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.

Shaanxi Construction Correlation With Market

Good diversification

The correlation between Shaanxi Construction Machinery and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shaanxi Construction Machinery and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shaanxi Stock

0.73	688525	Biwin Storage Technology	Pair Corr
0.69	300841	Chengdu Kanghua Biol	Pair Corr
0.67	301398	Ningbo Sinyuan ZM	Pair Corr
0.63	688137	Suzhou Novoprotein	Pair Corr
0.68	605118	Xiamen Leading Optics	Pair Corr
0.74	301226	Changzhou Xiangming	Pair Corr
0.72	000701	Xiamen Xindeco	Pair Corr
0.74	001228	Yongtaiyun Chemical	Pair Corr
0.68	300940	Shen Zhen Australis	Pair Corr
0.71	688003	Suzhou TZTEK Technology	Pair Corr
0.75	600496	Changjiang Jinggong Steel	Pair Corr
0.67	300530	Hunan Lead Power	Pair Corr
0.72	600301	Nanning Chemical Industry	Pair Corr
0.63	002630	China Western Power	Pair Corr
0.78	600361	Beijing Hualian Hype	Pair Corr
0.68	002998	Elite Color Environmental	Pair Corr
0.81	002853	Guangdong Piano Cust	Pair Corr
0.79	002616	Guangdong Chant Group	Pair Corr
0.77	002501	Jilin Liyuan Precision	Pair Corr
0.78	300163	Ningbo Xianfeng New	Pair Corr
0.72	300842	Wuxi Dk Electronic	Pair Corr
0.81	300895	Beijing Topnew Info	Pair Corr
0.76	603416	WuXi Xinje Electric	Pair Corr
0.75	300007	Henan Hanwei Electronics	Pair Corr
0.67	603259	WuXi AppTec	Pair Corr

Moving against Shaanxi Stock

0.39	603392	Beijing Wantai Biological	Pair Corr
0.36	000995	Gansu Huangtai Wine	Pair Corr
0.59	603959	Hunan Baili Engineering	Pair Corr

Related Correlations Analysis

	688607	300609	002551	688617	300314	688166	300096
688607		0.71	0.85	0.55	0.85	0.85	0.9	688607
300609	0.71		0.79	0.37	0.72	0.54	0.78	300609
002551	0.85	0.79		0.38	0.78	0.64	0.92	002551
688617	0.55	0.37	0.38		0.41	0.39	0.49	688617
300314	0.85	0.72	0.78	0.41		0.81	0.77	300314
688166	0.85	0.54	0.64	0.39	0.81		0.72	688166
300096	0.9	0.78	0.92	0.49	0.77	0.72		300096
	688607	300609	002551	688617	300314	688166	300096

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Risk-Adjusted Indicators

There is a big difference between Shaanxi Stock performing well and Shaanxi Construction 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 Shaanxi Construction'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
688607	1.60	0.17	0.10	(4.78)	2.19	(1.61)	3.02	(3.47)	9.18
300609	2.78	0.01	0.02	0.27	3.59	(2.98)	6.33	(6.34)	16.19
002551	1.71	(0.11)	0.00	0.26	0.00	0.00	3.16	(4.41)	9.86
688617	1.59	0.14	0.08	0.34	1.88	(1.67)	3.39	(3.37)	8.80
300314	1.77	0.10	0.06	0.08	1.93	(2.08)	2.78	(3.35)	23.31
688166	2.18	0.33	0.22	(0.42)	1.74	(3.14)	6.73	(3.35)	14.71
300096	2.05	0.18	0.09	(0.61)	2.73	(2.20)	4.58	(4.91)	12.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shaanxi Construction 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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Shaanxi Construction Corporate Management

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

Hongbin Geng	Deputy Mang	Profile
Lantian Zhang	Chief Supervisor	Profile
Chao Feng	Deputy Manager	Profile
Peng Hui	Deputy Mang	Profile
Xiaofeng Li	Board Secretary	Profile

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