BANK OCHINA Correlations

W8VS Stock

EUR 13.60 0.20 1.49%

The current 90-days correlation between BANK OCHINA H and FAST RETAIL ADR is 0.05 (i.e., Significant diversification). The correlation of BANK OCHINA 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.

BANK OCHINA Correlation With Market

Good diversification

The correlation between BANK OCHINA H and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BANK OCHINA H and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BANK OCHINA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BANK OCHINA 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 BANK OCHINA - 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 BANK OCHINA H to buy it.

Moving together with BANK Stock

0.9	ICKB	INDCOMMBK CHINA ADR20 Earnings Call This Week	Pair Corr
0.79	ICK	Industrial and Commercial Earnings Call This Week	Pair Corr
0.92	C6TB	CHINA BANK ADR20 Earnings Call This Week	Pair Corr
0.89	EK7A	AGRICULTBK HADR/25 Earnings Call This Week	Pair Corr
0.75	TDB	Toronto Dominion	Pair Corr
0.86	BRH	Berkshire Hathaway	Pair Corr
0.9	BRYN	Berkshire Hathaway	Pair Corr
0.87	BRYN	Berkshire Hathaway	Pair Corr
0.94	ZEG	ASTRAZENECA	Pair Corr
0.67	WY8	Universal Health Realty	Pair Corr
0.69	VOL3	VOLVO -A-	Pair Corr
0.72	2CS	China Silver Group	Pair Corr
0.94	19YA	Yiren Digital	Pair Corr
0.76	G8G	GREATLAND GOLD PLC	Pair Corr
0.65	VVDH	Veolia Environnement	Pair Corr
0.68	AV6	Avista	Pair Corr

Moving against BANK Stock

0.6	KBIA	KB Financial Group	Pair Corr
0.92	DBPD	Xtrackers ShortDAX	Pair Corr
0.68	J9I0	5E ADVANCED MATERIALS Split	Pair Corr

Related Correlations Analysis

	CZ2	22F	CS2	JUU	FR70	BUI	3HJ
CZ2		-0.23	-0.07	-0.01	-0.12	-0.54	-0.26	CZ2
22F	-0.23		0.88	0.07	0.38	0.26	0.56	22F
CS2	-0.07	0.88		0.21	0.51	0.26	0.63	CS2
JUU	-0.01	0.07	0.21		0.8	0.67	0.71	JUU
FR70	-0.12	0.38	0.51	0.8		0.72	0.82	FR70
BUI	-0.54	0.26	0.26	0.67	0.72		0.73	BUI
3HJ	-0.26	0.56	0.63	0.71	0.82	0.73		3HJ
	CZ2	22F	CS2	JUU	FR70	BUI	3HJ

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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

CS2	+ 0.88	22F
3HJ	+ 0.82	FR70
FR70	+ 0.8	JUU
3HJ	+ 0.73	BUI
BUI	+ 0.72	FR70
3HJ	+ 0.71	JUU

High negative correlations

BUI	- 0.54	CZ2
3HJ	- 0.26	CZ2
22F	- 0.23	CZ2
FR70	- 0.12	CZ2
CS2	- 0.07	CZ2
JUU	- 0.01	CZ2

Risk-Adjusted Indicators

There is a big difference between BANK Stock performing well and BANK OCHINA 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 BANK OCHINA'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CZ2	1.05	(0.05)	(1.15)	1.81	(2.29)	7.28
22F	1.45	(0.18)	(1.23)	2.94	(3.64)	11.61
CS2	1.30	(0.16)	3.55	2.54	(2.86)	9.06
JUU	2.34	(0.65)	0.77	5.83	(6.92)	16.67
FR70	1.32	(0.27)	(1.61)	2.04	(3.40)	7.64
BUI	1.84	(0.40)	(14.41)	3.57	(5.67)	16.59
3HJ	2.54	(0.24)	(0.45)	6.60	(6.25)	14.50

Be your own money manager

Our tools can tell you how much better you can do entering a position in BANK OCHINA 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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