Sichuan Hebang Correlations

603077 Stock

1.85 0.05 2.63%

The current 90-days correlation between Sichuan Hebang Biote and Guangzhou Shangpin Home is 0.54 (i.e., Very weak diversification). The correlation of Sichuan Hebang 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.

Sichuan Hebang Correlation With Market

Good diversification

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

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

Moving together with Sichuan Stock

0.82	600309	Wanhua Chemical Group	Pair Corr
0.77	002493	Rongsheng Petrochemical	Pair Corr
0.73	600941	China Mobile Limited	Pair Corr
0.62	601857	PetroChina	Pair Corr

Moving against Sichuan Stock

0.68	600036	China Merchants Bank	Pair Corr
0.57	600160	Zhejiang Juhua	Pair Corr
0.55	601899	Zijin Mining Group	Pair Corr
0.55	002594	BYD Co	Pair Corr
0.5	600547	Shandong Gold Mining	Pair Corr

Related Correlations Analysis

	300616	300096	002987	301299	600498	000555	600455	300288
300616		0.83	0.74	0.29	0.71	0.84	0.8	0.89	300616
300096	0.83		0.85	0.46	0.81	0.84	0.92	0.8	300096
002987	0.74	0.85		0.48	0.95	0.8	0.76	0.83	002987
301299	0.29	0.46	0.48		0.57	0.31	0.51	0.5	301299
600498	0.71	0.81	0.95	0.57		0.72	0.72	0.85	600498
000555	0.84	0.84	0.8	0.31	0.72		0.77	0.77	000555
600455	0.8	0.92	0.76	0.51	0.72	0.77		0.78	600455
300288	0.89	0.8	0.83	0.5	0.85	0.77	0.78		300288
	300616	300096	002987	301299	600498	000555	600455	300288

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Risk-Adjusted Indicators

There is a big difference between Sichuan Stock performing well and Sichuan Hebang 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 Sichuan Hebang'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
300616	1.88	(0.15)	0.00	(61.34)	0.00	0.00	5.05	(4.27)	12.30
300096	2.05	0.18	0.09	(0.61)	2.73	(2.20)	4.58	(4.91)	12.37
002987	2.69	0.34	0.12	(0.91)	3.18	(2.83)	7.30	(5.97)	16.87
301299	3.43	0.32	0.08	0.37	4.13	(3.51)	8.46	(6.61)	30.17
600498	2.60	0.35	0.13	0.54	2.60	(3.08)	6.88	(4.43)	16.70
000555	2.94	(0.12)	0.00	0.11	0.00	0.00	9.99	(5.74)	20.04
600455	1.79	0.11	0.06	(0.71)	2.53	(1.76)	5.07	(3.39)	9.42
300288	2.73	(0.12)	0.00	0.22	0.00	0.00	6.75	(6.01)	18.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sichuan Hebang 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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Sichuan Hebang Corporate Management

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

Anping Liu	Deputy Manager	Profile
Liu Anping	Deputy Mang	Profile
Siying Jiang	Secretary Board	Profile
Huirong Yang	General Manager	Profile

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