CHINA CONCH Correlations

68C Stock

EUR 0.84 0.01 1.20%

The current 90-days correlation between CHINA CH VENT and UNIQA INSURANCE GR is 0.03 (i.e., Significant diversification). The correlation of CHINA CONCH 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.

CHINA CONCH Correlation With Market

Significant diversification

The correlation between CHINA CH VENT and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHINA CH VENT and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CHINA Stock

0.66	9MDA	MEITUAN UNSPADR/2B Earnings Call This Week	Pair Corr
0.64	JUS1	AEON Co	Pair Corr

Moving against CHINA Stock

0.65	CJ8A	CARGOJET INC VAR	Pair Corr
0.57	FSG	Federal Signal	Pair Corr
0.56	VMR1	Value Management Research	Pair Corr
0.54	HZS	Hitachi Zosen	Pair Corr
0.5	18RA	Select Energy Services	Pair Corr
0.44	1MS	Munters Group AB	Pair Corr
0.37	6FO	GOODTECH ASA A	Pair Corr
0.36	KWI	Kurita Water Industries	Pair Corr
0.36	WCE	CECO Environmental Corp	Pair Corr
0.35	GLE	Gladstone Commercial	Pair Corr
0.34	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	UN9	1IZ1	BEW	CBR	12P	4OQ1	ZSL
UN9		0.33	-0.59	0.87	0.22	0.68	0.71	UN9
1IZ1	0.33		-0.01	0.53	0.57	0.83	0.78	1IZ1
BEW	-0.59	-0.01		-0.53	0.17	-0.32	-0.22	BEW
CBR	0.87	0.53	-0.53		0.26	0.87	0.79	CBR
12P	0.22	0.57	0.17	0.26		0.47	0.63	12P
4OQ1	0.68	0.83	-0.32	0.87	0.47		0.88	4OQ1
ZSL	0.71	0.78	-0.22	0.79	0.63	0.88		ZSL
	UN9	1IZ1	BEW	CBR	12P	4OQ1	ZSL

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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

ZSL	+ 0.88	4OQ1
CBR	+ 0.87	UN9
4OQ1	+ 0.87	CBR
4OQ1	+ 0.83	1IZ1
ZSL	+ 0.79	CBR
ZSL	+ 0.78	1IZ1

High negative correlations

BEW	- 0.59	UN9
CBR	- 0.53	BEW
4OQ1	- 0.32	BEW
ZSL	- 0.22	BEW
BEW	- 0.01	1IZ1

Risk-Adjusted Indicators

There is a big difference between CHINA Stock performing well and CHINA CONCH 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 CHINA CONCH'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
UN9	0.80	0.35	0.43	1.47	0.62	(0.90)	2.52	(1.48)	5.85
1IZ1	1.38	0.00	0.00	(0.16)	0.00	0.00	2.80	(3.13)	9.05
BEW	2.18	(0.14)	0.00	0.45	0.00	0.00	6.49	(6.60)	18.99
CBR	1.21	0.20	0.19	(25.86)	1.35	(1.44)	2.98	(2.70)	6.31
12P	1.54	(0.03)	0.07	0.04	1.86	(1.57)	2.91	(3.13)	8.14
4OQ1	0.89	0.11	0.14	0.18	1.29	(0.89)	1.92	(2.50)	6.13
ZSL	1.00	0.05	0.19	(0.51)	1.01	(1.13)	2.92	(1.88)	5.96

Be your own money manager

Our tools can tell you how much better you can do entering a position in CHINA CONCH 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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