Shanxi Tond Correlations

002360 Stock

5.02 0.44 8.06%

The current 90-days correlation between Shanxi Tond Chemical and Zijin Mining Group is 0.23 (i.e., Modest diversification). The correlation of Shanxi Tond 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.

Shanxi Tond Correlation With Market

Good diversification

The correlation between Shanxi Tond Chemical and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shanxi Tond Chemical and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shanxi Stock

0.76	600019	Baoshan Iron Steel	Pair Corr
0.83	600010	Inner Mongolia BaoTou	Pair Corr
0.87	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.73	603260	Hoshine Silicon Ind	Pair Corr
0.81	600160	Zhejiang Juhua	Pair Corr
0.67	688082	ACM Research Shanghai	Pair Corr
0.64	600584	JCET Group	Pair Corr
0.89	603365	Shanghai Shuixing Home	Pair Corr
0.94	002584	Xilong Chemical	Pair Corr
0.79	000428	Huatian Hotel Group	Pair Corr
0.83	000889	ZJBC Information Tec	Pair Corr
0.66	300608	SI TECH Information	Pair Corr
0.94	300880	Ningbo Jianan Electronics	Pair Corr
0.69	002074	Gotion High tech	Pair Corr
0.91	603313	Healthcare	Pair Corr
0.75	688507	Shanghai Suochen Inf	Pair Corr
0.72	000661	Changchun High New	Pair Corr
0.64	601598	Sinotrans Class	Pair Corr
0.88	688119	Sinosteel Luonai Mat	Pair Corr
0.62	002847	Yankershop Food	Pair Corr
0.66	605377	Hangzhou Huawang New	Pair Corr
0.88	605128	Shanghai Yanpu Metal	Pair Corr
0.88	600335	Sinomach Automobile	Pair Corr
0.71	600498	Fiberhome Telecommunicatio	Pair Corr
0.81	600719	Dalian Thermal Power	Pair Corr

Moving against Shanxi Stock

0.55	600547	Shandong Gold Mining	Pair Corr
0.32	601899	Zijin Mining Group	Pair Corr

Related Correlations Analysis

	601899	600309	600019	600547	002493	600010	002460	603260	600160	000807
601899		0.7	0.09	0.91	0.19	-0.35	-0.42	-0.11	-0.17	0.44	601899
600309	0.7		0.08	0.68	0.45	-0.21	-0.21	0.06	-0.06	0.35	600309
600019	0.09	0.08		-0.25	0.63	0.71	0.62	0.7	0.86	0.7	600019
600547	0.91	0.68	-0.25		-0.03	-0.64	-0.61	-0.36	-0.5	0.12	600547
002493	0.19	0.45	0.63	-0.03		0.65	0.71	0.76	0.66	0.62	002493
600010	-0.35	-0.21	0.71	-0.64	0.65		0.86	0.76	0.84	0.54	600010
002460	-0.42	-0.21	0.62	-0.61	0.71	0.86		0.75	0.78	0.33	002460
603260	-0.11	0.06	0.7	-0.36	0.76	0.76	0.75		0.79	0.58	603260
600160	-0.17	-0.06	0.86	-0.5	0.66	0.84	0.78	0.79		0.6	600160
000807	0.44	0.35	0.7	0.12	0.62	0.54	0.33	0.58	0.6		000807
	601899	600309	600019	600547	002493	600010	002460	603260	600160	000807

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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

600547	+ 0.91	601899
600160	+ 0.86	600019
002460	+ 0.86	600010
600160	+ 0.84	600010
600160	+ 0.79	603260
600160	+ 0.78	002460

High negative correlations

600010	- 0.64	600547
002460	- 0.61	600547
600160	- 0.5	600547
002460	- 0.42	601899
603260	- 0.36	600547
600010	- 0.35	601899

Risk-Adjusted Indicators

There is a big difference between Shanxi Stock performing well and Shanxi Tond 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 Shanxi Tond'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
601899	1.62	0.05	0.01	0.36	2.02	(1.64)	3.26	(3.21)	10.10
600309	1.76	0.02	0.00	0.07	2.31	(2.04)	3.92	(3.47)	16.38
600019	1.67	0.38	0.13	2.01	2.05	(1.77)	4.80	(3.10)	17.37
600547	1.35	(0.15)	0.00	2.76	0.00	0.00	2.39	(2.95)	12.15
002493	1.52	0.18	0.07	1.05	1.97	(1.71)	4.12	(2.86)	15.52
600010	2.47	0.51	0.17	1.26	2.46	(3.16)	7.46	(4.00)	19.48
002460	3.21	0.61	0.17	3.89	3.09	(3.89)	9.99	(6.14)	20.00
603260	2.02	0.25	0.08	13.91	2.50	(2.14)	4.90	(3.79)	17.89
600160	2.11	0.60	0.24	(2.35)	1.85	(2.46)	6.09	(3.85)	15.23
000807	2.00	0.34	0.12	3.85	2.27	(2.17)	5.75	(3.27)	15.53

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shanxi Tond 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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Shanxi Tond Corporate Executives

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

Chun Jin

CFO GM

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