TCL Zhonghuan Correlations

002129 Stock

9.69 0.35 3.49%

The current 90-days correlation between TCL Zhonghuan Renewable and Shandong Publishing Media is 0.35 (i.e., Weak diversification). The correlation of TCL Zhonghuan 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.

TCL Zhonghuan Correlation With Market

Good diversification

The correlation between TCL Zhonghuan Renewable and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TCL Zhonghuan Renewable and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TCL Stock

0.76	605259	Lutian Machinery	Pair Corr
0.95	001289	China Longyuan Power	Pair Corr
0.79	300600	Changshu Ruite Electric	Pair Corr
0.76	301177	DR Limited	Pair Corr
0.64	601998	China Citic Bank	Pair Corr

Moving against TCL Stock

0.53

600025

Huaneng Lancang River

Pair Corr

Related Correlations Analysis

	002946	603696	601949	600300	002650	603336	601019	002991
002946		0.94	0.84	0.98	0.86	0.9	-0.61	0.96	002946
603696	0.94		0.78	0.97	0.78	0.81	-0.44	0.89	603696
601949	0.84	0.78		0.83	0.85	0.74	-0.65	0.86	601949
600300	0.98	0.97	0.83		0.87	0.9	-0.57	0.95	600300
002650	0.86	0.78	0.85	0.87		0.87	-0.76	0.87	002650
603336	0.9	0.81	0.74	0.9	0.87		-0.72	0.94	603336
601019	-0.61	-0.44	-0.65	-0.57	-0.76	-0.72		-0.72	601019
002991	0.96	0.89	0.86	0.95	0.87	0.94	-0.72		002991
	002946	603696	601949	600300	002650	603336	601019	002991

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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

600300	+ 0.98	002946
600300	+ 0.97	603696
002991	+ 0.96	002946
002991	+ 0.95	600300
603696	+ 0.94	002946
002991	+ 0.94	603336

High negative correlations

601019	- 0.76	002650
002991	- 0.72	601019
601019	- 0.72	603336
601019	- 0.65	601949
601019	- 0.61	002946
601019	- 0.57	600300

Risk-Adjusted Indicators

There is a big difference between TCL Stock performing well and TCL Zhonghuan 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 TCL Zhonghuan'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
002946	2.55	0.86	0.25	(4.72)	2.37	(2.98)	7.24	(3.61)	19.98
603696	2.14	0.85	0.30	13.96	2.03	(2.72)	5.98	(2.33)	18.58
601949	2.60	0.72	0.13	(0.95)	3.47	(2.84)	7.37	(5.84)	20.05
600300	1.96	0.80	0.25	(2.45)	1.85	(2.47)	5.38	(2.63)	17.10
002650	3.29	1.25	0.30	28.24	2.85	(3.73)	5.12	(4.94)	10.20
603336	3.01	0.79	0.21	2.91	2.93	(3.63)	8.72	(5.52)	19.60
601019	1.77	(0.04)	0.00	2.79	0.00	0.00	3.26	(3.31)	16.11
002991	2.25	0.80	0.32	19.33	1.55	(2.80)	9.01	(2.48)	18.08

Be your own money manager

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

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

Huimei Zhan	Accounting Supervisor	Profile
Yanjun Wang	Deputy Manager	Profile
Changxu Zhang	CFO GM	Profile
Haoping Shen	Vice GM	Profile

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