Sinotrans Correlations
| 601598 Stock | 5.23 0.12 2.24% |
The current 90-days correlation between Sinotrans Class and Cultural Investment Holdings is -0.06 (i.e., Good diversification). The correlation of Sinotrans 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.
Sinotrans Correlation With Market
Average diversification
The correlation between Sinotrans Ltd Class and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sinotrans Ltd Class and DJI in the same portfolio, assuming nothing else is changed.
Sinotrans |
The ability to find closely correlated positions to Sinotrans could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sinotrans 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 Sinotrans - 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 Sinotrans Ltd Class to buy it.
Moving together with Sinotrans Stock
| 0.66 | 601398 | Industrial and Commercial | PairCorr |
| 0.76 | 601939 | China Construction Bank | PairCorr |
| 0.73 | 601318 | Ping An Insurance | PairCorr |
| 0.79 | 600036 | China Merchants Bank | PairCorr |
| 0.62 | 601166 | Industrial Bank | PairCorr |
| 0.62 | 002303 | Shenzhen MYS Environ | PairCorr |
| 0.83 | 605128 | Shanghai Yanpu Metal | PairCorr |
| 0.67 | 000909 | Soyea Technology | PairCorr |
| 0.69 | 601929 | JiShi Media | PairCorr |
| 0.7 | 002074 | Gotion High tech | PairCorr |
| 0.65 | 000560 | 5I5j Holding Group | PairCorr |
| 0.69 | 002575 | Guangdong Qunxing Toys | PairCorr |
| 0.68 | 600719 | Dalian Thermal Power | PairCorr |
| 0.62 | 605377 | Hangzhou Huawang New | PairCorr |
| 0.77 | 002847 | Yankershop Food | PairCorr |
| 0.79 | 002893 | Beijing HuaYuanYiTong | PairCorr |
| 0.63 | 603818 | Qumei Furniture Group | PairCorr |
| 0.8 | 688047 | Loongson Technology Corp | PairCorr |
| 0.73 | 300880 | Ningbo Jianan Electronics | PairCorr |
| 0.68 | 300825 | Iat Automobile Technology | PairCorr |
| 0.71 | 688507 | Shanghai Suochen Inf | PairCorr |
| 0.72 | 000661 | Changchun High New | PairCorr |
| 0.66 | 002584 | Xilong Chemical | PairCorr |
| 0.63 | 000889 | ZJBC Information Tec | PairCorr |
| 0.83 | 600633 | Zhejiang Daily Media | PairCorr |
| 0.71 | 600335 | Sinomach Automobile | PairCorr |
| 0.84 | 300433 | Lens Technology | PairCorr |
| 0.64 | 603313 | Healthcare | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Sinotrans Stock performing well and Sinotrans 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 Sinotrans' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 600715 | 2.68 | 0.32 | 0.08 | (0.52) | 3.44 | 5.13 | 14.20 | |||
| 600898 | 2.98 | (0.17) | 0.00 | (4.11) | 0.00 | 5.14 | 10.56 | |||
| 002217 | 2.85 | 1.01 | 0.30 | (4.63) | 2.59 | 5.17 | 10.46 | |||
| 000980 | 4.12 | 1.21 | 0.31 | (2.03) | 3.24 | 10.08 | 20.19 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Sinotrans 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?
Run Stock Tickers Now
Stock TickersUse high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |
| All Next | Launch Module |