China Overseas Correlations

CAOVF Stock

USD 1.65 0.00 0.00%

The correlation of China Overseas 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 Overseas Correlation With Market

Significant diversification

The correlation between China Overseas Land and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Overseas Land and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China Overseas 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 Overseas 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 Overseas - 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 Overseas Land to buy it.

Moving together with China Pink Sheet

0.84	CRBJY	China Resources Land	Pair Corr
0.64	CRBJF	China Resources Land	Pair Corr
0.71	JXN-PA	Jackson Financial	Pair Corr

Moving against China Pink Sheet

0.58	CRGP	Calissio Resources	Pair Corr
0.49	CHKGF	CK Asset Holdings	Pair Corr
0.31	LPCUF	Lees Pharmaceutical	Pair Corr
0.69	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.59	KO	Coca Cola Aggressive Push	Pair Corr
0.57	PG	Procter Gamble Sell-off Trend	Pair Corr
0.44	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.42	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.33	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.31	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	SUHJY	CAOVY	EGRNF	SNLAY	SUHJF	HIHI	DWAHY	LGFRY	CTRYY	CTRYF
SUHJY		0.87	-0.38	0.67	0.78	-0.3	-0.23	0.85	0.27	-0.44	SUHJY
CAOVY	0.87		-0.48	0.76	0.69	-0.52	-0.48	0.98	0.38	-0.25	CAOVY
EGRNF	-0.38	-0.48		-0.45	-0.35	0.42	0.26	-0.51	-0.36	0.11	EGRNF
SNLAY	0.67	0.76	-0.45		0.48	-0.36	-0.28	0.75	0.21	-0.25	SNLAY
SUHJF	0.78	0.69	-0.35	0.48		-0.27	-0.21	0.65	0.21	-0.37	SUHJF
HIHI	-0.3	-0.52	0.42	-0.36	-0.27		0.55	-0.52	-0.54	0.12	HIHI
DWAHY	-0.23	-0.48	0.26	-0.28	-0.21	0.55		-0.43	-0.79	-0.36	DWAHY
LGFRY	0.85	0.98	-0.51	0.75	0.65	-0.52	-0.43		0.32	-0.31	LGFRY
CTRYY	0.27	0.38	-0.36	0.21	0.21	-0.54	-0.79	0.32		0.29	CTRYY
CTRYF	-0.44	-0.25	0.11	-0.25	-0.37	0.12	-0.36	-0.31	0.29		CTRYF
	SUHJY	CAOVY	EGRNF	SNLAY	SUHJF	HIHI	DWAHY	LGFRY	CTRYY	CTRYF

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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

LGFRY	+ 0.98	CAOVY
CAOVY	+ 0.87	SUHJY
LGFRY	+ 0.85	SUHJY
SUHJF	+ 0.78	SUHJY
SNLAY	+ 0.76	CAOVY
LGFRY	+ 0.75	SNLAY

High negative correlations

CTRYY	- 0.79	DWAHY
CTRYY	- 0.54	HIHI
LGFRY	- 0.52	HIHI
HIHI	- 0.52	CAOVY
LGFRY	- 0.51	EGRNF
DWAHY	- 0.48	CAOVY

Risk-Adjusted Indicators

There is a big difference between China Pink Sheet performing well and China Overseas 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 Overseas' 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
SUHJY	1.14	0.13	(0.01)	(0.98)	1.53	(1.27)	2.15	(2.24)	12.09
CAOVY	3.17	0.25	0.05	0.43	4.30	(3.52)	7.76	(5.99)	33.43
EGRNF	83.12	46.80	0.00	(0.66)	0.00	0.00	50.00	(33.33)	1,990
SNLAY	1.74	0.06	(0.02)	4.98	2.43	(2.13)	3.38	(5.35)	13.44
SUHJF	2.32	0.32	0.02	(0.56)	3.32	(4.77)	5.33	(7.31)	27.60
HIHI	9.03	1.03	0.05	10.64	9.79	(20.82)	30.43	(23.53)	86.84
DWAHY	0.85	0.01	(0.09)	1.07	1.23	(0.77)	1.72	(1.93)	4.33
LGFRY	4.70	0.51	0.09	0.45	6.02	(5.24)	13.92	(9.20)	54.86
CTRYY	7.01	1.96	0.21	1.93	6.32	(10.43)	27.73	(11.37)	86.87
CTRYF	16.68	5.31	0.00	(2.46)	0.00	0.00	50.00	(37.04)	350.00

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Our tools can tell you how much better you can do entering a position in China Overseas 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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