China Railway Correlations

CRWOF Stock

USD 0.53 0.00 0.00%

The current 90-days correlation between China Railway Group and Aecom Technology is 0.15 (i.e., Average diversification). The correlation of China Railway 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 Railway Correlation With Market

Good diversification

The correlation between China Railway Group and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Railway Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China Railway 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 Railway 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 Railway - 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 Railway Group to buy it.

Moving together with China Pink Sheet

0.69	TKOMF	Tokio Marine Holdings	Pair Corr
0.75	ISMAY	Indra Sistemas SA	Pair Corr

Moving against China Pink Sheet

0.53	EME	EMCOR Group	Pair Corr
0.52	PWR	Quanta Services	Pair Corr
0.46	PLTR	Palantir Technologies	Pair Corr
0.44	LTOUF	Larsen Toubro Limited	Pair Corr
0.4	EPGG	Empire Global Gaming	Pair Corr

Related Correlations Analysis

	ARCVF	VCISF	SKBSY	DLOC	MTRX	MYRG	GVA	GLDD	TPC	ACM
ARCVF		-0.48	-0.88	0.59	0.23	0.89	0.85	0.91	-0.06	0.93	ARCVF
VCISF	-0.48		0.42	-0.11	-0.19	-0.33	-0.51	-0.34	0.05	-0.48	VCISF
SKBSY	-0.88	0.42		-0.68	0.04	-0.75	-0.71	-0.76	0.16	-0.81	SKBSY
DLOC	0.59	-0.11	-0.68		-0.47	0.49	0.4	0.45	-0.11	0.5	DLOC
MTRX	0.23	-0.19	0.04	-0.47		0.37	0.48	0.43	-0.16	0.37	MTRX
MYRG	0.89	-0.33	-0.75	0.49	0.37		0.92	0.95	-0.03	0.94	MYRG
GVA	0.85	-0.51	-0.71	0.4	0.48	0.92		0.87	-0.12	0.93	GVA
GLDD	0.91	-0.34	-0.76	0.45	0.43	0.95	0.87		-0.07	0.93	GLDD
TPC	-0.06	0.05	0.16	-0.11	-0.16	-0.03	-0.12	-0.07		-0.05	TPC
ACM	0.93	-0.48	-0.81	0.5	0.37	0.94	0.93	0.93	-0.05		ACM
	ARCVF	VCISF	SKBSY	DLOC	MTRX	MYRG	GVA	GLDD	TPC	ACM

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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

GLDD	+ 0.95	MYRG
ACM	+ 0.94	MYRG
ACM	+ 0.93	ARCVF
ACM	+ 0.93	GVA
ACM	+ 0.93	GLDD
GVA	+ 0.92	MYRG

High negative correlations

SKBSY	- 0.88	ARCVF
ACM	- 0.81	SKBSY
GLDD	- 0.76	SKBSY
MYRG	- 0.75	SKBSY
GVA	- 0.71	SKBSY
DLOC	- 0.68	SKBSY

Risk-Adjusted Indicators

There is a big difference between China Pink Sheet performing well and China Railway 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 Railway'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
ARCVF	0.58	(0.23)	0.00	2.25	0.00	0.00	0.00	(3.72)	6.65
VCISF	1.04	0.45	0.00	(1.15)	0.00	0.00	5.24	(0.19)	12.59
SKBSY	1.48	0.23	0.14	(2.62)	1.97	(1.46)	3.34	(2.66)	11.20
DLOC	4.43	(1.27)	0.00	1.33	0.00	0.00	0.00	(20.00)	141.67
MTRX	2.37	0.10	0.06	1.20	2.89	(2.69)	4.67	(4.98)	14.29
MYRG	2.42	(0.22)	0.00	(2.19)	0.00	0.00	4.57	(5.60)	16.92
GVA	1.35	(0.29)	0.00	1.56	0.00	0.00	2.25	(2.80)	8.39
GLDD	2.46	(0.34)	0.00	1.56	0.00	0.00	3.70	(5.27)	22.28
TPC	2.80	0.06	0.04	(0.24)	3.19	(3.26)	3.85	(5.49)	42.81
ACM	1.15	(0.22)	0.00	9.00	0.00	0.00	2.10	(2.25)	6.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in China Railway 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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China Railway Corporate Management

Dun Kong	VP Engineer	Profile
Yun Chen	Ex Board	Profile
Jiangqian Ma	Chief Economist	Profile
Shiqi Wang	Ex Director	Profile
Wen He	Joint Department	Profile
Xinsheng Li	VP	Profile
Wenjian Chen	Pres Director	Profile

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