Shanghai Pharmaceuticals Correlations

S1R Stock  EUR 1.34  0.02  1.47%   
The current 90-days correlation between Shanghai Pharmaceuticals and NEWELL RUBBERMAID is -0.05 (i.e., Good diversification). The correlation of Shanghai Pharmaceuticals 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.

Shanghai Pharmaceuticals Correlation With Market

Weak diversification

The correlation between Shanghai Pharmaceuticals Holdi and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Pharmaceuticals Holdi and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Shanghai Pharmaceuticals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shanghai Pharmaceuticals 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 Shanghai Pharmaceuticals - 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 Shanghai Pharmaceuticals Holding to buy it.

Moving together with Shanghai Stock

  0.93X2S Sinopharm GroupPairCorr
  0.94X2S1 SINOPHARM GROUP 15ONPairCorr
  0.74PD2 Patterson CompaniesPairCorr
  0.86HO1 HologicPairCorr
  0.75YMI Yellow Pages LimitedPairCorr
  0.79USF1 OCULUS VISIONTECHPairCorr

Moving against Shanghai Stock

  0.89BAYN Bayer AG NAPairCorr
  0.78SLT SCHALTBAU HOLDINGPairCorr
  0.77IPOK Heidelberger BeteiligungsholdPairCorr
  0.73EBO Erste Group BankPairCorr
  0.64ABG AmerisourceBergenPairCorr
  0.39C2H Copa Holdings SAPairCorr
  0.31CLH Cardinal HealthPairCorr
  0.31PBV Prestige ConsumerPairCorr
  0.7632A AEGEAN AIRLINESPairCorr
  0.74EVD CTS Eventim AGPairCorr
  0.74NCL New China LifePairCorr
  0.67KGHA KGHM Polska MiedzPairCorr
  0.66CPW Check Point SoftwarePairCorr
  0.65AIR Airbus SEPairCorr
  0.6BDB Balta Group NVPairCorr
  0.535UR Raytheon TechnologiesPairCorr
  0.457FM FINORE MININGPairCorr
  0.41OM6 O REILLY AUTOPairCorr
  0.36LFD GCM Resources Plc Earnings Call TodayPairCorr
  0.32H5E HELMA EIGENHEIMBAUPairCorr
  0.88KBX Knorr Bremse AGPairCorr
  0.85NOA3 NokiaPairCorr
  0.84MD1 Medistim ASAPairCorr
  0.82SYT Softing AGPairCorr
  0.8ADV Adtran Networks SEPairCorr
  0.8ASG Assicurazioni GeneraliPairCorr

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   
RUZ7X3
RUZWA7
7X3EM7A
7X3WA7
RUZEM7A
NWLGIFN
  
High negative correlations   
YT2ANWL
EM7AGIFN
EM7ANWL
IBUWA7
IBURUZ
7X3GIFN

Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai Pharmaceuticals 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 Shanghai Pharmaceuticals' 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 Shanghai Pharmaceuticals 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 Global Correlations Now

   

Global Correlations

Find global opportunities by holding instruments from different markets
All  Next Launch Module

Shanghai Pharmaceuticals Corporate Management

Elected by the shareholders, the Shanghai Pharmaceuticals' board of directors comprises two types of representatives: Shanghai Pharmaceuticals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shanghai. The board's role is to monitor Shanghai Pharmaceuticals' management team and ensure that shareholders' interests are well served. Shanghai Pharmaceuticals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Shanghai Pharmaceuticals' outside directors are responsible for providing unbiased perspectives on the board's policies.
Jun ZhouChairman of the Board, Non-Executive DirectorProfile
Dawei LiuVice President Secretary of the BoardProfile
Haoliang GuVice PresidentProfile
Liang HongIndependent Non-Executive DirectorProfile
Ying KeDirector CenterProfile
Yong ZhaoVice PresidentProfile
Tao ZhongBoard VPProfile