CITIC (CPFSG) Correlations

CPF Stock   1.10  0.01  0.90%   
The current 90-days correlation between CITIC (CPFSG) and SALESFORCE INC CDR is 0.19 (i.e., Average diversification). The correlation of CITIC (CPFSG) 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. If the correlation is 0, the equities are not correlated; they are entirely random.

CITIC (CPFSG) Correlation With Market

Modest diversification

The correlation between CITIC and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CITIC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CITIC (CPFSG) 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 (CPFSG) 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 (CPFSG) - 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 to buy it.

Moving against CITIC Stock

  0.57VMR1 Value Management ResearchPairCorr
  0.55DBPD Xtrackers ShortDAXPairCorr
  0.53MSF MicrosoftPairCorr
  0.52MSF MicrosoftPairCorr
  0.52MSF MicrosoftPairCorr
  0.5MSF MicrosoftPairCorr

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   
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26YMNL
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High negative correlations   
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5PMA26Y
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5PMAMNL

Risk-Adjusted Indicators

There is a big difference between CITIC Stock performing well and CITIC (CPFSG) 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 (CPFSG)'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.

CITIC (CPFSG) Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with CITIC (CPFSG) stock to make a market-neutral strategy. Peer analysis of CITIC (CPFSG) could also be used in its relative valuation, which is a method of valuing CITIC (CPFSG) by comparing valuation metrics with similar companies.
 Risk & Return  Correlation