Aerospace Correlations

Stocks China . 
Stock . Aerospace Hi Tech Holding
000901 Stock   12.00  0.05  0.42%   
The current 90-days correlation between Aerospace Hi Tech and Cinda Securities Co is 0.58 (i.e., Very weak diversification). The correlation of Aerospace 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.
  
The ability to find closely correlated positions to Aerospace could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aerospace 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 Aerospace - 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 Aerospace Hi Tech Holding to buy it.

Moving together with Aerospace Stock

  0.72600715 Cultural InvestmentPairCorr
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  0.7002217 Holitech TechnologyPairCorr
  0.81000980 Zotye AutomobilePairCorr
  0.76000617 CNPC CapitalPairCorr
  0.72000909 Soyea TechnologyPairCorr
  0.88300359 Qtone Education GroupPairCorr
  0.61002575 Guangdong Qunxing ToysPairCorr
  0.62000889 ZJBC Information TecPairCorr
  0.75000428 Huatian Hotel GroupPairCorr
  0.79688047 Loongson Technology CorpPairCorr
  0.92301379 Techshine ElectronicsPairCorr
  0.79002847 Yankershop FoodPairCorr
  0.82300825 Iat Automobile TechnologyPairCorr
  0.84600719 Dalian Thermal PowerPairCorr
  0.73300880 Ningbo Jianan ElectronicsPairCorr
  0.9600633 Zhejiang Daily MediaPairCorr
  0.95600498 Fiberhome TelecommunicatioPairCorr
  0.89300815 Eit EnvironmentalPairCorr
  0.75603068 Beken CorpPairCorr
  0.87688325 Guangdong CellwisePairCorr
  0.77603818 Qumei Furniture GroupPairCorr
  0.72688082 ACM Research ShanghaiPairCorr
  0.83300433 Lens TechnologyPairCorr
  0.87002074 Gotion High techPairCorr
  0.85002382 Blue Sail MedicalPairCorr
  0.83600455 ButOne Information CorpPairCorr
  0.87688507 Shanghai Suochen InfPairCorr
  0.79600515 Hainan HNA InfrastructurePairCorr
  0.83002893 Beijing HuaYuanYiTongPairCorr
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  0.83605128 Shanghai Yanpu MetalPairCorr
  0.83000560 5I5j Holding GroupPairCorr

Related Correlations Analysis

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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   
688012
+ 0.98
688072
688293
+ 0.94
688072
601059
+ 0.93
601628
688012
+ 0.92
688293
688126
+ 0.89
601628
688012
+ 0.89
601198
  
High negative correlations   
000061
- 0.12
603993
603993
- 0.09
688293
603993
- 0.01
688072

Risk-Adjusted Indicators

There is a big difference between Aerospace Stock performing well and Aerospace 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 Aerospace'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
601628  2.13  0.35  0.11  0.90  2.54 
(2.30)
 6.42 
(3.94)
 20.00 
601059  2.41  0.37  0.11 (115.18) 2.75 
(2.84)
 7.43 
(4.36)
 20.10 
688072  3.67  0.63  0.16  5.74  3.44 
(4.61)
 11.70 
(6.63)
 30.46 
601198  2.71  0.60  0.16 (2.37) 2.90 
(2.96)
 9.99 
(5.54)
 20.42 
688293  3.60  0.76  0.17 (0.74) 3.65 
(3.96)
 11.13 
(5.59)
 29.27 
688126  3.51  0.73  0.21  3.54  2.91 
(4.66)
 14.22 
(5.02)
 29.35 
603993  1.85  0.09  0.03 (0.47) 2.34 
(2.07)
 4.34 
(3.73)
 14.34 
000504  2.71  0.40  0.12 (1.76) 2.93 
(3.01)
 7.29 
(4.46)
 17.21 
000061  1.66  0.52  0.22  1.21  1.67 
(1.92)
 4.90 
(2.61)
 15.40 
688012  3.33  0.73  0.21  1.50  2.90 
(3.96)
 12.89 
(5.17)
 29.70 

Be your own money manager

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

Elected by the shareholders, the Aerospace's board of directors comprises two types of representatives: Aerospace inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Aerospace. The board's role is to monitor Aerospace's management team and ensure that shareholders' interests are well served. Aerospace'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, Aerospace's outside directors are responsible for providing unbiased perspectives on the board's policies.
Lupeng GuoDeputy ManagerProfile
Xiao GuoDeputy MangProfile
Jing SiDeputy ManagerProfile
Guo FengDeputy MangProfile
Yuan XuDeputy MangProfile
Xue DengDeputy MangProfile
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