Shanghai Putailai Correlations

Stocks . China . 
Stock . Shanghai Putailai New
603659 Stock   17.20  0.17  1.00%   
The current 90-days correlation between Shanghai Putailai New and Jiangxi Ganfeng Lithium is 0.79 (i.e., Poor diversification). The correlation of Shanghai Putailai 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.

Shanghai Putailai Correlation With Market

Good diversification

The correlation between Shanghai Putailai New and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Putailai New and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Shanghai Putailai could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shanghai Putailai 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 Shanghai Putailai - 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 Shanghai Putailai New to buy it.

Moving together with Shanghai Stock

  0.7600019 Baoshan Iron SteelPairCorr
  0.76002493 Rongsheng PetrochemicalPairCorr
  0.93600010 Inner Mongolia BaoTouPairCorr
  0.96002460 Jiangxi Ganfeng LithiumPairCorr
  0.82603260 Hoshine Silicon IndPairCorr
  0.86600160 Zhejiang JuhuaPairCorr
  0.71001979 China Merchants ShekouPairCorr
  0.67601995 China InternationalPairCorr
  0.7600153 Xiamen CDPairCorr
  0.85300750 Contemporary AmperexPairCorr
  0.87600340 China Fortune LandPairCorr
  0.68300433 Lens TechnologyPairCorr
  0.91300825 Iat Automobile TechnologyPairCorr
  0.78603969 Tianjin Silvery DragonPairCorr
  0.62300608 SI TECH InformationPairCorr
  0.69605388 JuneYao DairyPairCorr
  0.84301379 Techshine ElectronicsPairCorr
  0.75601929 JiShi MediaPairCorr
  0.72688082 ACM Research ShanghaiPairCorr
  0.82000661 Changchun High NewPairCorr
  0.82603313 HealthcarePairCorr
  0.9300815 Eit EnvironmentalPairCorr
  0.81603068 Beken CorpPairCorr
  0.92000506 Zhongrun ResourcesPairCorr
  0.71002400 Guangdong AdvertisingPairCorr
  0.87688507 Shanghai Suochen InfPairCorr
  0.88002893 Beijing HuaYuanYiTongPairCorr
  0.77000560 5I5j Holding GroupPairCorr
  0.84600335 Sinomach AutomobilePairCorr

Moving against Shanghai Stock

  0.54600547 Shandong Gold MiningPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
600160
+ 0.9
600019
002460
+ 0.88
600010
600160
+ 0.88
600010
600160
+ 0.86
603260
600547
+ 0.85
601899
600160
+ 0.85
002493
  
High negative correlations   
002460
- 0.55
600547
600010
- 0.55
600547
600160
- 0.29
600547
603260
- 0.28
600547
002460
- 0.19
601899
600010
- 0.1
601899

Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai Putailai 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 Shanghai Putailai'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shanghai Putailai 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 FinTech Suite Now

   

FinTech Suite

Use AI to screen and filter profitable investment opportunities
All  Next Launch Module

Shanghai Putailai Corporate Management

Elected by the shareholders, the Shanghai Putailai's board of directors comprises two types of representatives: Shanghai Putailai inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shanghai. The board's role is to monitor Shanghai Putailai's management team and ensure that shareholders' interests are well served. Shanghai Putailai'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, Shanghai Putailai's outside directors are responsible for providing unbiased perspectives on the board's policies.
Fang LiuDeputy ManagerProfile
Xiaodong QiDeputy ManagerProfile
Gaoquan XiongAccounting SupervisorProfile
Suning FengDeputy ManagerProfile
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY