Zhejiang Huatong Correlations

002840 Stock

12.85 0.59 4.39%

The current 90-days correlation between Zhejiang Huatong Meat and Loctek Ergonomic Technology is 0.5 (i.e., Very weak diversification). The correlation of Zhejiang Huatong 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.

Zhejiang Huatong Correlation With Market

Average diversification

The correlation between Zhejiang Huatong Meat and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Huatong Meat and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Zhejiang Stock

0.7	601398	Industrial and Commercial	Pair Corr
0.63	601288	Agricultural Bank	Pair Corr
0.65	601939	China Construction Bank	Pair Corr
0.75	601988	Bank of China	Pair Corr
0.61	601328	Bank of Communications	Pair Corr
0.74	601998	China Citic Bank	Pair Corr
0.85	000428	Huatian Hotel Group	Pair Corr
0.63	688082	ACM Research Shanghai	Pair Corr
0.64	000661	Changchun High New	Pair Corr
0.89	603818	Qumei Furniture Group	Pair Corr
0.78	600633	Zhejiang Daily Media	Pair Corr
0.85	600335	Sinomach Automobile	Pair Corr
0.84	002115	Sunwave Communications	Pair Corr
0.77	300815	Eit Environmental	Pair Corr
0.77	605128	Shanghai Yanpu Metal	Pair Corr
0.78	688119	Sinosteel Luonai Mat	Pair Corr
0.67	002847	Yankershop Food	Pair Corr
0.91	603365	Shanghai Shuixing Home	Pair Corr
0.92	603103	Hengdian Entertainment	Pair Corr
0.78	600515	Hainan HNA Infrastructure	Pair Corr
0.78	301390	Hangzhou Gisway Info	Pair Corr
0.7	603659	Shanghai Putailai New	Pair Corr
0.8	300221	Guangdong Silvere Sci	Pair Corr
0.64	300608	SI TECH Information	Pair Corr
0.65	601598	Sinotrans Class	Pair Corr
0.78	601002	Gem Year Industrial	Pair Corr
0.87	002400	Guangdong Advertising	Pair Corr
0.86	603068	Beken Corp	Pair Corr
0.73	301379	Techshine Electronics	Pair Corr
0.83	603969	Tianjin Silvery Dragon	Pair Corr
0.65	000609	Beijing Mainstreets	Pair Corr
0.89	002946	New Hope Dairy	Pair Corr
0.66	600498	Fiberhome Telecommunicatio	Pair Corr
0.85	000995	Gansu Huangtai Wine	Pair Corr

Related Correlations Analysis

	601615	159681	159005	300729	002952	516220	002096	002999	300243	603269
601615		0.8	0.94	0.87	0.77	0.79	0.58	0.92	0.78	0.88	601615
159681	0.8		0.7	0.89	0.76	0.97	0.83	0.66	0.8	0.82	159681
159005	0.94	0.7		0.75	0.63	0.67	0.49	0.88	0.73	0.82	159005
300729	0.87	0.89	0.75		0.72	0.87	0.64	0.8	0.74	0.8	300729
002952	0.77	0.76	0.63	0.72		0.77	0.69	0.65	0.73	0.84	002952
516220	0.79	0.97	0.67	0.87	0.77		0.78	0.66	0.82	0.77	516220
002096	0.58	0.83	0.49	0.64	0.69	0.78		0.39	0.61	0.71	002096
002999	0.92	0.66	0.88	0.8	0.65	0.66	0.39		0.69	0.74	002999
300243	0.78	0.8	0.73	0.74	0.73	0.82	0.61	0.69		0.7	300243
603269	0.88	0.82	0.82	0.8	0.84	0.77	0.71	0.74	0.7		603269
	601615	159681	159005	300729	002952	516220	002096	002999	300243	603269

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Risk-Adjusted Indicators

There is a big difference between Zhejiang Stock performing well and Zhejiang Huatong 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 Zhejiang Huatong'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	2.69	0.70	0.25	5.46	2.36	(3.37)	7.78	(3.82)	18.14
159681	2.97	0.67	0.15	(10.04)	3.02	(4.94)	8.99	(4.00)	36.32
159005	0.01	0.00	0.00	(1.28)	0.00	0.00	0.01	(0.01)	0.14
300729	2.27	0.32	0.09	1.08	3.05	(2.51)	6.27	(3.81)	24.80
002952	3.20	0.42	0.09	0.86	3.87	(3.21)	9.02	(6.36)	19.99
516220	1.71	0.25	0.09	(1.28)	1.74	(2.82)	5.26	(3.03)	17.74
002096	2.17	0.20	0.07	1.10	2.39	(2.38)	4.30	(3.86)	13.27
002999	2.60	0.32	0.09	0.38	3.18	(2.87)	6.20	(5.34)	17.06
300243	3.17	0.61	0.13	(0.90)	3.83	(3.65)	10.41	(4.80)	31.77
603269	2.68	0.60	0.20	6.78	2.52	(3.27)	5.98	(5.42)	16.65

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

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

Wanzhen Zhu	Board Secretary	Profile
Kaijun Zhang	Chief Officer	Profile
Wenwen Zhu	Deputy Manager	Profile
Kai Zhu	Vice GM	Profile
Xi Zhou	Chief Officer	Profile
Yong Chen	Deputy Manager	Profile

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