Zhongshan Broad-Ocean Correlations
| 002249 Stock | 5.40 0.07 1.28% |
The current 90-days correlation between Zhongshan Broad Ocean and Gansu Jiu Steel is 0.53 (i.e., Very weak diversification). The correlation of Zhongshan Broad-Ocean 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.
Zhongshan Broad-Ocean Correlation With Market
Good diversification
The correlation between Zhongshan Broad Ocean Motor and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhongshan Broad Ocean Motor and DJI in the same portfolio, assuming nothing else is changed.
Zhongshan |
The ability to find closely correlated positions to Zhongshan Broad-Ocean could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zhongshan Broad-Ocean 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 Zhongshan Broad-Ocean - 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 Zhongshan Broad Ocean Motor to buy it.
Moving together with Zhongshan Stock
| 0.62 | 601658 | Postal Savings Bank | PairCorr |
| 0.83 | 600036 | China Merchants Bank | PairCorr |
| 0.71 | 601166 | Industrial Bank | PairCorr |
| 0.77 | 600000 | Shanghai Pudong Deve | PairCorr |
| 0.94 | 900957 | Shanghai Lingyun Ind | PairCorr |
| 0.95 | 002236 | Zhejiang Dahua Technology | PairCorr |
| 0.93 | 600742 | Changchun Faway Auto | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Zhongshan Stock performing well and Zhongshan Broad-Ocean 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 Zhongshan Broad-Ocean'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 159908 | 2.66 | 0.57 | 0.13 | 17.46 | 2.68 | 8.56 | 34.23 | |||
| 600307 | 2.54 | 0.70 | 0.14 | (0.66) | 2.90 | 9.56 | 19.98 | |||
| 002429 | 2.17 | 0.22 | 0.02 | (0.45) | 2.47 | 4.64 | 14.22 | |||
| 601615 | 2.63 | 0.73 | 0.21 | (3.06) | 2.30 | 7.78 | 18.14 | |||
| 300261 | 3.36 | 0.79 | 0.13 | (0.91) | 4.03 | 12.80 | 30.23 | |||
| 000683 | 1.97 | (0.04) | 0.00 | 0.28 | 0.00 | 6.08 | 19.10 | |||
| 002517 | 2.58 | 0.54 | 0.17 | 1.90 | 2.34 | 6.22 | 17.48 | |||
| 300729 | 2.09 | 0.41 | 0.10 | 6.78 | 2.84 | 6.27 | 24.80 | |||
| 688391 | 3.01 | 0.52 | 0.10 | (3.95) | 3.53 | 6.33 | 34.22 | |||
| 300590 | 3.46 | 0.63 | 0.11 | (1.79) | 3.91 | 5.96 | 36.78 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Zhongshan Broad-Ocean 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.Did you try this?
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Zhongshan Broad-Ocean Corporate Management
Elected by the shareholders, the Zhongshan Broad-Ocean's board of directors comprises two types of representatives: Zhongshan Broad-Ocean inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zhongshan. The board's role is to monitor Zhongshan Broad-Ocean's management team and ensure that shareholders' interests are well served. Zhongshan Broad-Ocean'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, Zhongshan Broad-Ocean's outside directors are responsible for providing unbiased perspectives on the board's policies.