Shandong Longda Correlations
| 002726 Stock | 7.92 0.11 1.41% |
The current 90-days correlation between Shandong Longda Meat and Ming Yang Smart is 0.56 (i.e., Very weak diversification). The correlation of Shandong Longda 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.
Shandong Longda Correlation With Market
Average diversification
The correlation between Shandong Longda Meat and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shandong Longda Meat and DJI in the same portfolio, assuming nothing else is changed.
Shandong |
The ability to find closely correlated positions to Shandong Longda could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shandong Longda 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 Shandong Longda - 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 Shandong Longda Meat to buy it.
Moving together with Shandong Stock
| 0.71 | 601398 | Industrial and Commercial | PairCorr |
| 0.66 | 601288 | Agricultural Bank | PairCorr |
| 0.67 | 601939 | China Construction Bank | PairCorr |
| 0.73 | 601988 | Bank of China | PairCorr |
| 0.71 | 601998 | China Citic Bank | PairCorr |
| 0.65 | 000428 | Huatian Hotel Group | PairCorr |
| 0.67 | 603818 | Qumei Furniture Group | PairCorr |
| 0.69 | 600335 | Sinomach Automobile | PairCorr |
| 0.72 | 002115 | Sunwave Communications | PairCorr |
| 0.61 | 300815 | Eit Environmental | PairCorr |
| 0.66 | 002847 | Yankershop Food | PairCorr |
| 0.72 | 603365 | Shanghai Shuixing Home | PairCorr |
| 0.76 | 603103 | Hengdian Entertainment | PairCorr |
| 0.64 | 600515 | Hainan HNA Infrastructure | PairCorr |
| 0.72 | 301390 | Hangzhou Gisway Info | PairCorr |
| 0.61 | 601598 | Sinotrans Class | PairCorr |
| 0.69 | 002400 | Guangdong Advertising | PairCorr |
| 0.65 | 603068 | Beken Corp | PairCorr |
| 0.62 | 301379 | Techshine Electronics | PairCorr |
| 0.77 | 603969 | Tianjin Silvery Dragon | PairCorr |
| 0.82 | 002946 | New Hope Dairy | PairCorr |
| 0.72 | 000995 | Gansu Huangtai Wine | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Shandong Stock performing well and Shandong Longda 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 Shandong Longda'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601615 | 2.73 | 0.70 | 0.25 | 3.16 | 2.38 | 7.78 | 18.14 | |||
| 159681 | 2.97 | 0.69 | 0.16 | (16.23) | 3.05 | 8.99 | 36.32 | |||
| 159005 | 0.01 | 0.00 | 0.00 | (1.32) | 0.00 | 0.01 | 0.14 | |||
| 300729 | 2.28 | 0.27 | 0.07 | 0.92 | 3.19 | 6.27 | 24.80 | |||
| 002952 | 3.24 | 0.60 | 0.13 | (0.83) | 3.81 | 9.99 | 19.99 | |||
| 516220 | 1.70 | 0.30 | 0.10 | (3.11) | 1.72 | 5.26 | 17.74 | |||
| 002096 | 2.22 | 0.09 | 0.03 | 0.47 | 2.46 | 4.30 | 13.27 | |||
| 002999 | 2.62 | 0.34 | 0.09 | 4.92 | 3.26 | 6.20 | 17.06 | |||
| 300243 | 3.27 | 0.60 | 0.12 | (1.12) | 3.95 | 10.41 | 31.77 | |||
| 603269 | 2.93 | 0.66 | 0.19 | 4.71 | 2.89 | 8.65 | 16.65 |
Be your own money manager
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Shandong Longda Corporate Management
Elected by the shareholders, the Shandong Longda's board of directors comprises two types of representatives: Shandong Longda inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shandong. The board's role is to monitor Shandong Longda's management team and ensure that shareholders' interests are well served. Shandong Longda'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, Shandong Longda's outside directors are responsible for providing unbiased perspectives on the board's policies.