CITIC Correlations

CPF0 Stock  EUR 5.75  0.05  0.88%   
The current 90-days correlation between CITIC LTD ADR5 and Zijin Mining Group is 0.18 (i.e., Average 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

Average diversification

The correlation between CITIC LTD ADR5 and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CITIC LTD ADR5 and DJI in the same portfolio, assuming nothing else is changed.
  
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 LTD ADR5 to buy it.

Moving together with CITIC Stock

  0.83CPF CITIC Limited Earnings Call This WeekPairCorr
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  0.77CJH CanSino BiologicsPairCorr
  0.64WY8 Universal Health RealtyPairCorr
  0.63VVDH Veolia EnvironnementPairCorr
  0.64E908 Lyxor 1PairCorr
  0.73DBPE Xtrackers LevDAXPairCorr

Moving against CITIC Stock

  0.74PQ9 BANK MANDIRIPairCorr
  0.7DBPD Xtrackers ShortDAXPairCorr
  0.69PQ9 PT Bank MandiriPairCorr
  0.67PQ9 BANK MANDIRIPairCorr
  0.64ALD Honeywell InternationalPairCorr
  0.63PTI Perusahaan Perseroan Earnings Call This WeekPairCorr
  0.6BYRA BANK RAKYAT INDPairCorr
  0.59PQ9 BANK MANDIRIPairCorr
  0.55BYRA PT Bank RakyatPairCorr
  0.54TCID Telkom Indonesia Tbk Earnings Call This WeekPairCorr
  0.47IOC ITOCHUPairCorr
  0.35BYRA PT Bank RakyatPairCorr
  0.32BYRA BANK RAKYAT INDPairCorr

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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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.

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.

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