Zangge Holding Correlations

000408 Stock

27.08 0.01 0.04%

The current 90-days correlation between Zangge Holding and Jiangsu Pacific Quartz is 0.35 (i.e., Weak diversification). The correlation of Zangge Holding 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.

Zangge Holding Correlation With Market

Significant diversification

The correlation between Zangge Holding Co and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zangge Holding Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Zangge Stock

0.64	600715	Cultural Investment	Pair Corr
0.71	002188	Bus Online	Pair Corr
0.61	002217	Holitech Technology	Pair Corr
0.7	000980	Zotye Automobile	Pair Corr
0.67	603969	Tianjin Silvery Dragon	Pair Corr
0.86	000661	Changchun High New	Pair Corr
0.7	300939	Shenzhen AV Display	Pair Corr
0.76	601598	Sinotrans Class	Pair Corr
0.71	002065	Dhc Software	Pair Corr
0.86	301379	Techshine Electronics	Pair Corr
0.75	000963	Huadong Medicine	Pair Corr
0.77	002152	GRG Banking Equipment	Pair Corr
0.9	601636	Zhuzhou Kibing Group	Pair Corr
0.77	600719	Dalian Thermal Power	Pair Corr
0.81	002847	Yankershop Food	Pair Corr
0.88	000761	Bengang Steel Plates	Pair Corr
0.75	688603	Guangdong Skychem	Pair Corr
0.84	300815	Eit Environmental	Pair Corr
0.71	603800	Suzhou Douson Drilling	Pair Corr
0.78	600084	Citic Guoan Wine	Pair Corr
0.77	600583	Offshore Oil Engineering	Pair Corr
0.9	600584	JCET Group	Pair Corr
0.86	601865	Flat Glass Group	Pair Corr
0.77	300221	Guangdong Silvere Sci	Pair Corr
0.7	002295	Guangdong Jingyi Metal	Pair Corr
0.79	001323	De Rucci Healthy	Pair Corr
0.89	600498	Fiberhome Telecommunicatio	Pair Corr
0.87	300599	Guangdong Xiongsu	Pair Corr
0.65	300894	Marssenger Kitchenware	Pair Corr
0.73	200539	Guangdong Electric Power	Pair Corr
0.68	000609	Beijing Mainstreets	Pair Corr
0.65	000428	Huatian Hotel Group	Pair Corr

Related Correlations Analysis

	600519	300760	603688	603444	688036	688169	000568	000719	300750	000858
600519		0.9	0.86	0.65	0.81	0.22	0.94	0.52	0.79	0.95	600519
300760	0.9		0.88	0.61	0.81	0.37	0.91	0.39	0.76	0.88	300760
603688	0.86	0.88		0.5	0.69	0.11	0.94	0.42	0.91	0.94	603688
603444	0.65	0.61	0.5		0.75	0.59	0.53	0.73	0.45	0.52	603444
688036	0.81	0.81	0.69	0.75		0.41	0.76	0.48	0.62	0.75	688036
688169	0.22	0.37	0.11	0.59	0.41		0.09	0.32	-0.07	0.09	688169
000568	0.94	0.91	0.94	0.53	0.76	0.09		0.44	0.9	0.99	000568
000719	0.52	0.39	0.42	0.73	0.48	0.32	0.44		0.52	0.46	000719
300750	0.79	0.76	0.91	0.45	0.62	-0.07	0.9	0.52		0.9	300750
000858	0.95	0.88	0.94	0.52	0.75	0.09	0.99	0.46	0.9		000858
	600519	300760	603688	603444	688036	688169	000568	000719	300750	000858

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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

000858	+ 0.99	000568
000858	+ 0.95	600519
000568	+ 0.94	600519
000568	+ 0.94	603688
000858	+ 0.94	603688
000568	+ 0.91	300760

High negative correlations

300750

- 0.07

688169

Risk-Adjusted Indicators

There is a big difference between Zangge Stock performing well and Zangge Holding 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 Zangge Holding'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
600519	1.71	0.17	0.07	0.61	1.81	(2.11)	6.55	(2.98)	16.71
300760	2.16	0.12	0.04	(0.98)	2.51	(2.58)	4.81	(3.75)	19.76
603688	2.73	0.43	0.13	(227.24)	2.79	(3.14)	8.33	(4.18)	19.04
603444	2.60	0.23	0.06	(1.22)	3.30	(2.69)	5.75	(4.79)	18.75
688036	3.01	0.29	0.08	0.36	3.36	(3.60)	6.01	(4.55)	31.26
688169	3.04	(0.04)	0.00	0.87	0.00	0.00	5.74	(5.72)	34.80
000568	2.42	0.35	0.13	0.68	2.47	(3.21)	10.00	(4.01)	20.00
000719	2.01	0.16	0.05	(4.50)	2.45	(2.23)	4.39	(3.71)	16.97
300750	2.77	0.60	0.16	(2.47)	3.05	(3.23)	7.94	(3.41)	33.42
000858	2.18	0.35	0.14	0.95	2.21	(2.65)	7.27	(3.56)	19.98

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zangge Holding 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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Zangge Holding Corporate Management

Elected by the shareholders, the Zangge Holding's board of directors comprises two types of representatives: Zangge Holding inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zangge. The board's role is to monitor Zangge Holding's management team and ensure that shareholders' interests are well served. Zangge Holding'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, Zangge Holding's outside directors are responsible for providing unbiased perspectives on the board's policies.

Yao Xiao	Vice GM	Profile
Ruixue Li	Board Secretary	Profile
Peng Huang	Deputy Manager	Profile
Shengshun Zhang	Deputy Manager	Profile

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