XCMG Construction Correlations

Stocks China . 
Stock . XCMG Construction Machinery
000425 Stock   7.44  0.47  5.94%   
The current 90-days correlation between XCMG Construction and Industrial Bank Co is 0.5 (i.e., Very weak diversification). The correlation of XCMG Construction 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.

XCMG Construction Correlation With Market

Significant diversification

The correlation between XCMG Construction Machinery 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 XCMG Construction Machinery and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to XCMG Construction could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace XCMG Construction 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 XCMG Construction - 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 XCMG Construction Machinery to buy it.

Moving together with XCMG Stock

  0.77600519 Kweichow MoutaiPairCorr
  0.82002371 NAURA TechnologyPairCorr
  0.66688298 Zhejiang Orient GenePairCorr
  0.66300760 Shenzhen Mindray BioPairCorr
  0.88300750 Contemporary AmperexPairCorr
  0.85688111 Beijing Kingsoft OfficePairCorr
  0.68600436 Zhangzhou PientzehuangPairCorr
  0.89000963 Huadong MedicinePairCorr
  0.73600755 Xiamen ITG GroupPairCorr
  0.86002555 37 Interactive EnterPairCorr
  0.92000761 Bengang Steel PlatesPairCorr
  0.84603688 Jiangsu Pacific QuartzPairCorr
  0.73603365 Shanghai Shuixing HomePairCorr
  0.84603969 Tianjin Silvery DragonPairCorr
  0.77688603 Guangdong SkychemPairCorr
  0.88301379 Techshine ElectronicsPairCorr
  0.63002432 Andon HealthPairCorr
  0.81600583 Offshore Oil EngineeringPairCorr
  0.88300815 Eit EnvironmentalPairCorr
  0.88002152 GRG Banking EquipmentPairCorr
  0.84600584 JCET GroupPairCorr
  0.8603659 Shanghai Putailai NewPairCorr
  0.83601059 Cinda SecuritiesPairCorr
  0.8601002 Gem Year IndustrialPairCorr
  0.72200539 Guangdong Electric PowerPairCorr
  0.85000661 Changchun High NewPairCorr
  0.74603800 Suzhou Douson DrillingPairCorr
  0.72301390 Hangzhou Gisway InfoPairCorr
  0.83601636 Zhuzhou Kibing GroupPairCorr
  0.83300221 Guangdong Silvere SciPairCorr
  0.83300599 Guangdong XiongsuPairCorr
  0.82001323 De Rucci HealthyPairCorr
  0.85600719 Dalian Thermal PowerPairCorr
  0.81002295 Guangdong Jingyi MetalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between XCMG Stock performing well and XCMG Construction 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 XCMG Construction'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
601398  1.09  0.25  0.18  3.08  1.01 
(1.43)
 2.83 
(1.71)
 8.14 
601288  1.02  0.18  0.11  1.44  1.25 
(1.11)
 2.20 
(1.89)
 7.78 
601939  1.11  0.26  0.16  1.80  1.16 
(1.32)
 3.32 
(1.93)
 8.64 
601988  1.00  0.19  0.14  1.27  0.97 
(1.27)
 2.67 
(1.98)
 7.70 
601658  1.34  0.28  0.15  1.71  1.32 
(1.62)
 3.49 
(2.23)
 9.13 
601328  1.31  0.21  0.13  4.52  1.24 
(1.56)
 3.26 
(2.12)
 10.82 
601318  1.80  0.35  0.14  1.10  1.95 
(2.18)
 5.83 
(2.88)
 19.77 
600036  1.56  0.37  0.17 (3.67) 1.76 
(1.79)
 4.65 
(2.56)
 13.83 
601166  1.38  0.25  0.12  1.73  1.50 
(1.52)
 3.84 
(2.41)
 12.07 
601998  1.49  0.26  0.11  3.45  1.81 
(1.63)
 3.02 
(2.37)
 13.33 

Be your own money manager

Our tools can tell you how much better you can do entering a position in XCMG Construction 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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XCMG Construction Corporate Executives

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