China Union Correlations

Stocks . China . 
Stock . China Union Holdings
000036 Stock   4.42  0.01  0.23%   
The current 90-days correlation between China Union Holdings and PetroChina Co Ltd is 0.32 (i.e., Weak diversification). The correlation of China Union 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 Union Correlation With Market

Average diversification

The correlation between China Union Holdings and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Union Holdings and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to China Union 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 Union 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 Union - 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 Union Holdings to buy it.

Moving together with China Stock

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  0.8600340 China Fortune LandPairCorr
  0.85600498 Fiberhome TelecommunicatioPairCorr
  0.71603969 Tianjin Silvery DragonPairCorr
  0.79600455 ButOne Information CorpPairCorr
  0.65300433 Lens TechnologyPairCorr
  0.64002400 Guangdong AdvertisingPairCorr
  0.87002217 Holitech TechnologyPairCorr
  0.74000560 5I5j Holding GroupPairCorr
  0.92002466 Sichuan Tianqi LithiumPairCorr
  0.81600633 Zhejiang Daily MediaPairCorr
  0.91000506 Zhongrun ResourcesPairCorr
  0.85688507 Shanghai Suochen InfPairCorr
  0.84002074 Gotion High techPairCorr
  0.66002575 Guangdong Qunxing ToysPairCorr
  0.67603365 Shanghai Shuixing HomePairCorr
  0.79000661 Changchun High NewPairCorr
  0.84300825 Iat Automobile TechnologyPairCorr
  0.86688325 Guangdong CellwisePairCorr
  0.73002303 Shenzhen MYS EnvironPairCorr
  0.77600335 Sinomach AutomobilePairCorr
  0.76603818 Qumei Furniture GroupPairCorr
  0.73002946 New Hope DairyPairCorr
  0.75300880 Ningbo Jianan ElectronicsPairCorr
  0.79301379 Techshine ElectronicsPairCorr
  0.81002382 Blue Sail MedicalPairCorr
  0.87300815 Eit EnvironmentalPairCorr
  0.79600719 Dalian Thermal PowerPairCorr
  0.74000909 Soyea TechnologyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between China Stock performing well and China Union 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 Union'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601857  1.28  0.12  0.05 (4.50) 1.83 
(1.59)
 3.55 
(2.03)
 17.17 
600941  1.05  0.17  0.14 (8.04) 0.96 
(1.37)
 3.09 
(2.04)
 8.38 
600938  1.38  0.17  0.07 (1.78) 1.90 
(1.47)
 3.25 
(2.13)
 16.49 
601318  1.80  0.35  0.14  1.10  1.95 
(2.18)
 5.83 
(2.88)
 19.77 
600028  1.14  0.06  0.02  0.47  1.58 
(1.25)
 3.23 
(1.89)
 10.77 
601728  1.48  0.24  0.11  0.85  1.69 
(1.69)
 3.49 
(2.81)
 11.12 
601668  1.87  0.33  0.12  1.08  2.16 
(2.09)
 5.25 
(3.67)
 15.78 
600519  1.71  0.17  0.07  0.61  1.81 
(2.11)
 6.55 
(2.98)
 16.71 
601088  1.53  0.19  0.10  3.97  1.57 
(1.72)
 4.28 
(2.66)
 10.24 
601628  2.13  0.35  0.11  0.90  2.54 
(2.30)
 6.42 
(3.94)
 20.00 

Be your own money manager

Our tools can tell you how much better you can do entering a position in China Union 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 Union Corporate Executives

Elected by the shareholders, the China Union's board of directors comprises two types of representatives: China Union inside directors who are chosen from within the company, and outside directors, selected externally and held independent of China. The board's role is to monitor China Union's management team and ensure that shareholders' interests are well served. China Union's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, China Union's outside directors are responsible for providing unbiased perspectives on the board's policies.
Qin SuDeputy CFOProfile
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