Chongqing Machinery Correlations
| CE3 Stock | EUR 0.11 0.01 8.33% |
The current 90-days correlation between Chongqing Machinery and Yuexiu Transport Infrastructure is 0.04 (i.e., Significant diversification). The correlation of Chongqing Machinery 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.
Chongqing Machinery Correlation With Market
Good diversification
The correlation between Chongqing Machinery Electric and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chongqing Machinery Electric and DJI in the same portfolio, assuming nothing else is changed.
Chongqing |
The ability to find closely correlated positions to Chongqing Machinery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chongqing Machinery 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 Chongqing Machinery - 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 Chongqing Machinery Electric to buy it.
Moving together with Chongqing Stock
| 0.82 | 5TP | BLUE LABEL | PairCorr |
| 0.62 | T62 | TOHO ZINC LTD | PairCorr |
| 0.81 | TKA | thyssenkrupp AG | PairCorr |
| 0.72 | BSN | Danone SA | PairCorr |
| 0.68 | 3RE | Rejlerkoncernen AB | PairCorr |
| 0.81 | JYS1 | JYSKE BANK | PairCorr |
Moving against Chongqing Stock
| 0.77 | 3J8 | JPM INDIAN INVT | PairCorr |
| 0.74 | EMR | Emerson Electric | PairCorr |
| 0.72 | 3EC | Eaton PLC | PairCorr |
| 0.72 | 2IS | Trane Technologies plc | PairCorr |
| 0.63 | PAR | Parker Hannifin | PairCorr |
| 0.61 | ALD | Honeywell International | PairCorr |
| 0.61 | SND | Schneider Electric | PairCorr |
| 0.6 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.55 | ABJA | ABB | PairCorr |
| 0.55 | 0KJ | ABERFORTH SMCOS TRLS | PairCorr |
| 0.55 | 74F | LIFE BANC SPLIT | PairCorr |
| 0.37 | ILT | Illinois Tool Works | PairCorr |
| 0.31 | T9V | TASTY PLC LS | PairCorr |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Chongqing Stock performing well and Chongqing Machinery 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 Chongqing Machinery'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GZ3 | 1.47 | (0.09) | 0.00 | (0.15) | 0.00 | 2.33 | 8.89 | |||
| 4GF | 1.55 | (0.03) | 0.00 | 2.24 | 0.00 | 2.80 | 7.41 | |||
| 7JZ | 2.69 | (0.05) | 0.00 | (0.04) | 0.00 | 7.11 | 26.48 | |||
| 4GF | 1.82 | 0.01 | 0.00 | (0.49) | 2.52 | 2.86 | 11.34 | |||
| FDU | 2.96 | (0.83) | 0.00 | (4.20) | 0.00 | 5.00 | 20.86 | |||
| WN6 | 1.31 | (0.23) | 0.00 | (1.03) | 0.00 | 2.60 | 10.76 | |||
| D2V | 1.46 | 0.14 | 0.07 | (13.99) | 1.68 | 3.34 | 14.66 | |||
| 5PMA | 2.86 | 0.34 | 0.08 | 12.62 | 2.93 | 6.52 | 20.17 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Chongqing Machinery 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 Pair Correlation Now
Pair CorrelationCompare performance and examine fundamental relationship between any two equity instruments |
| All Next | Launch Module |
Chongqing Machinery Corporate Management
Elected by the shareholders, the Chongqing Machinery's board of directors comprises two types of representatives: Chongqing Machinery inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Chongqing. The board's role is to monitor Chongqing Machinery's management team and ensure that shareholders' interests are well served. Chongqing Machinery'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, Chongqing Machinery's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Deng Rui | S Board | Profile | |
| Zhongtang Liu | CFO GM | Profile | |
| Fulun Zhang | Gen Chairman | Profile | |
| Chun Kam | Qualified Accountant | Profile | |
| Quan Yang | Vice Director | Profile | |
| Shu Zhang | Vice Mang | Profile | |
| Shaobo Qin | Vice Mang | Profile |