CHINA CONBANK Correlations

C6TB Stock

EUR 15.90 0.20 1.27%

The current 90-days correlation between CHINA BANK ADR20 and Suntory Beverage Food is 0.07 (i.e., Significant diversification). The correlation of CHINA CONBANK 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 CONBANK Correlation With Market

Good diversification

The correlation between CHINA BANK ADR20 and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHINA BANK ADR20 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CHINA CONBANK 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 CONBANK 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 CONBANK - 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 BANK ADR20 to buy it.

Moving together with CHINA Stock

0.96	ICKB	INDCOMMBK CHINA ADR20	Pair Corr
0.85	ICK	Industrial and Commercial	Pair Corr
0.91	EK7A	AGRICULTBK HADR/25	Pair Corr
0.95	W8VS	BANK OCHINA H	Pair Corr
0.7	TDB	Toronto Dominion	Pair Corr
0.81	BZZ	Bank of Montreal	Pair Corr
0.82	BSDK	Banco Santander SA	Pair Corr

Moving against CHINA Stock

0.81	ASJA	ASTRA INTERNATIONAL	Pair Corr
0.48	BYRA	PT Bank Rakyat	Pair Corr
0.47	ASJA	PT Astra International	Pair Corr
0.47	ASJA	ASTRA INTERNATIONAL	Pair Corr
0.45	ASJA	ASTRA INTERNATIONAL	Pair Corr
0.38	SSUN	Samsung Electronics	Pair Corr
0.37	TCID	Telkom Indonesia Tbk	Pair Corr
0.36	SSUN	Samsung Electronics	Pair Corr

Related Correlations Analysis

	EM7A	7SN	UF2	EM7A	IC1H	SC3	MOB	IC1B
EM7A		0.36	-0.21	-0.28	-0.8	0.24	0.69	-0.79	EM7A
7SN	0.36		0.01	0.21	-0.37	0.55	0.66	-0.44	7SN
UF2	-0.21	0.01		-0.44	0.14	0.34	-0.18	0.12	UF2
EM7A	-0.28	0.21	-0.44		0.24	-0.24	-0.01	0.28	EM7A
IC1H	-0.8	-0.37	0.14	0.24		-0.43	-0.79	0.92	IC1H
SC3	0.24	0.55	0.34	-0.24	-0.43		0.39	-0.54	SC3
MOB	0.69	0.66	-0.18	-0.01	-0.79	0.39		-0.77	MOB
IC1B	-0.79	-0.44	0.12	0.28	0.92	-0.54	-0.77		IC1B
	EM7A	7SN	UF2	EM7A	IC1H	SC3	MOB	IC1B

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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

IC1B	+ 0.92	IC1H
MOB	+ 0.69	EM7A
MOB	+ 0.66	7SN
SC3	+ 0.55	7SN
MOB	+ 0.39	SC3
7SN	+ 0.36	EM7A

High negative correlations

IC1H	- 0.8	EM7A
MOB	- 0.79	IC1H
IC1B	- 0.79	EM7A
IC1B	- 0.77	MOB
IC1B	- 0.54	SC3
EM7A	- 0.44	UF2

Risk-Adjusted Indicators

There is a big difference between CHINA Stock performing well and CHINA CONBANK 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 CONBANK'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
EM7A	1.10	(0.12)	0.00	0.46	0.00	0.00	1.54	(2.86)	13.03
7SN	0.99	(0.08)	0.00	(1.74)	0.00	0.00	1.85	(2.14)	8.07
UF2	1.39	0.11	0.06	0.14	1.43	(2.12)	2.78	(2.68)	16.55
EM7A	1.43	0.07	0.01	(0.50)	3.17	(5.30)	4.00	(2.08)	18.33
IC1H	1.13	0.04	0.02	0.68	1.53	(1.43)	2.42	(2.50)	8.68
SC3	1.61	(0.36)	0.00	(1.00)	0.00	0.00	2.90	(3.31)	19.31
MOB	1.10	(0.03)	0.00	0.51	0.00	0.00	2.58	(1.96)	5.27
IC1B	1.07	0.06	0.03	0.37	1.27	(1.43)	2.36	(2.31)	7.30

Be your own money manager

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