Anhui Estone Correlations

688733 Stock

18.41 0.50 2.64%

The current 90-days correlation between Anhui Estone Materials and Dr Peng Telecom is -0.03 (i.e., Good diversification). The correlation of Anhui Estone 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.

Anhui Estone Correlation With Market

Average diversification

The correlation between Anhui Estone Materials and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Estone Materials and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Anhui Stock

0.85	605198	Yantai North Andre	Pair Corr
0.8	300600	Changshu Ruite Electric	Pair Corr
0.73	301286	Sichuan Qiaoyuan Gas	Pair Corr
0.77	301177	DR Limited	Pair Corr

Moving against Anhui Stock

0.54

600025

Huaneng Lancang River

Pair Corr

Related Correlations Analysis

	600804	600345	603983	301206	600498	688670	002792	200468
600804		0.88	0.3	0.12	0.48	0.65	0.81	0.75	600804
600345	0.88		0.23	0.22	0.4	0.75	0.91	0.74	600345
603983	0.3	0.23		0.15	0.6	-0.01	0.22	0.31	603983
301206	0.12	0.22	0.15		0.42	0.6	0.3	0.24	301206
600498	0.48	0.4	0.6	0.42		0.42	0.61	0.66	600498
688670	0.65	0.75	-0.01	0.6	0.42		0.8	0.73	688670
002792	0.81	0.91	0.22	0.3	0.61	0.8		0.82	002792
200468	0.75	0.74	0.31	0.24	0.66	0.73	0.82		200468
	600804	600345	603983	301206	600498	688670	002792	200468

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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

002792	+ 0.91	600345
600345	+ 0.88	600804
200468	+ 0.82	002792
002792	+ 0.81	600804
002792	+ 0.8	688670
200468	+ 0.75	600804

High negative correlations

688670

- 0.01

603983

Risk-Adjusted Indicators

There is a big difference between Anhui Stock performing well and Anhui Estone 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 Anhui Estone'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
600804	3.74	0.59	0.13	(1.21)	3.75	(4.22)	5.21	(5.03)	10.53
600345	3.76	0.48	0.10	(2.19)	4.25	(3.99)	10.01	(7.58)	20.03
603983	2.41	0.30	0.12	0.32	2.42	(2.87)	5.93	(4.35)	15.70
301206	1.98	0.03	0.01	0.13	2.75	(1.97)	4.42	(3.78)	21.12
600498	2.33	0.23	0.07	(0.90)	2.95	(2.37)	6.31	(4.33)	16.52
688670	3.18	0.25	0.06	0.54	3.90	(3.43)	7.38	(5.99)	30.98
002792	3.14	0.32	0.08	12.88	3.51	(3.37)	9.98	(6.17)	17.25
200468	3.77	0.86	0.20	9.78	3.59	(4.38)	9.69	(5.01)	20.07

Be your own money manager

Our tools can tell you how much better you can do entering a position in Anhui Estone 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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Anhui Estone Corporate Management

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

Yajuan Wang	Deputy Manager	Profile
Jingxin Guo	Employee Department	Profile
Xuexin Jiang	GM Board	Profile
Jianmin Zhou	Deputy Manager	Profile

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