CITIC Correlations
| CPF Stock | EUR 1.20 0.03 2.56% |
The current 90-days correlation between CITIC Limited and Waste Management is -0.02 (i.e., Good diversification). The correlation of CITIC 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.
CITIC Correlation With Market
Significant diversification
The correlation between CITIC Limited and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CITIC Limited and DJI in the same portfolio, assuming nothing else is changed.
CITIC |
The ability to find closely correlated positions to CITIC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CITIC 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 CITIC - 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 CITIC Limited to buy it.
Moving together with CITIC Stock
| 0.78 | CPF0 | CITIC LTD ADR5 Earnings Call This Week | PairCorr |
| 0.76 | MARA | Marubeni | PairCorr |
| 0.66 | CJH | CanSino Biologics | PairCorr |
| 0.62 | E908 | Lyxor 1 | PairCorr |
| 0.72 | DBPE | Xtrackers LevDAX | PairCorr |
Moving against CITIC Stock
| 0.77 | PQ9 | BANK MANDIRI | PairCorr |
| 0.72 | PQ9 | PT Bank Mandiri | PairCorr |
| 0.72 | PQ9 | BANK MANDIRI | PairCorr |
| 0.71 | ALD | Honeywell International | PairCorr |
| 0.7 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.68 | PTI | Perusahaan Perseroan Earnings Call This Week | PairCorr |
| 0.66 | BYRA | BANK RAKYAT IND | PairCorr |
| 0.63 | PQ9 | BANK MANDIRI | PairCorr |
| 0.54 | BYRA | PT Bank Rakyat | PairCorr |
| 0.49 | BYRA | PT Bank Rakyat | PairCorr |
| 0.47 | TCID | Telkom Indonesia Tbk Earnings Call This Week | PairCorr |
| 0.46 | IOC | ITOCHU | PairCorr |
| 0.39 | BYRA | BANK RAKYAT IND | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between CITIC Stock performing well and CITIC 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 CITIC'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BKHT | 2.44 | (0.04) | 0.00 | (0.11) | 0.00 | 5.79 | 23.85 | |||
| 7ES1 | 2.21 | (0.60) | 0.00 | (1.41) | 0.00 | 3.13 | 21.69 | |||
| OD7B | 1.96 | 0.19 | 0.10 | 0.67 | 2.19 | 4.74 | 13.72 | |||
| UWS | 0.85 | 0.04 | 0.09 | 1.47 | 1.12 | 1.74 | 7.35 | |||
| WA4 | 1.39 | 0.06 | 0.06 | 0.35 | 1.83 | 3.77 | 10.49 | |||
| 63TA | 2.56 | 0.35 | 0.10 | 0.24 | 2.85 | 5.41 | 24.19 | |||
| 0VD | 1.25 | 0.11 | 0.09 | (0.44) | 1.92 | 3.64 | 13.55 | |||
| CE1 | 1.41 | (0.12) | 0.00 | (0.43) | 0.00 | 2.43 | 9.14 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in CITIC 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?
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Pair CorrelationCompare performance and examine fundamental relationship between any two equity instruments |
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CITIC Corporate Management
Elected by the shareholders, the CITIC's board of directors comprises two types of representatives: CITIC inside directors who are chosen from within the company, and outside directors, selected externally and held independent of CITIC. The board's role is to monitor CITIC's management team and ensure that shareholders' interests are well served. CITIC'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, CITIC's outside directors are responsible for providing unbiased perspectives on the board's policies.