Beijing HuaYuanYiTong Correlations

Stocks China . 
Stock . Beijing HuaYuanYiTong Thermal
002893 Stock   11.71  0.01  0.09%   
The current 90-days correlation between Beijing HuaYuanYiTong and Bank of China is -0.2 (i.e., Good diversification). The correlation of Beijing HuaYuanYiTong 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.

Beijing HuaYuanYiTong Correlation With Market

Average diversification

The correlation between Beijing HuaYuanYiTong Thermal and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beijing HuaYuanYiTong Thermal and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Beijing HuaYuanYiTong could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Beijing HuaYuanYiTong 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 Beijing HuaYuanYiTong - 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 Beijing HuaYuanYiTong Thermal to buy it.

Moving together with Beijing Stock

  0.89605259 Lutian MachineryPairCorr
  0.82001289 China Longyuan PowerPairCorr
  0.85605198 Yantai North AndrePairCorr
  0.65601998 China Citic BankPairCorr
  0.93300600 Changshu Ruite ElectricPairCorr
  0.9301177 DR LimitedPairCorr
  0.91002371 NAURA TechnologyPairCorr
  0.88605499 Eastroc Beverage SplitPairCorr
  0.89000839 CITIC Guoan InformationPairCorr
  0.85605577 Heilongjiang PublishingPairCorr
  0.88603008 Xilinmen FurniturePairCorr
  0.9002792 Tongyu CommunicationPairCorr
  0.93000555 Digital China InformationPairCorr
  0.94002205 XinJiang GuoTong PipelinePairCorr
  0.91600996 Guizhou BroadcastingTVPairCorr
  0.78688298 Zhejiang Orient GenePairCorr
  0.9600429 Beijing Sanyuan FoodsPairCorr
  0.8000572 Haima AutomobilePairCorr
  0.9603180 Xiamen GoldenhomePairCorr
  0.83688010 Fujian Forecam OpticsPairCorr
  0.93600711 Chengtun Mining GroupPairCorr
  0.87002941 Xinjiang CommunicationsPairCorr
  0.93601615 Ming Yang SmartPairCorr
  0.92300252 Kingsignal TechnologyPairCorr
  0.77002429 Shenzhen MTCPairCorr
  0.92000042 Shenzhen CentralconPairCorr
  0.92002605 Shanghai Yaoji PlayingPairCorr
  0.94900903 Dazhong TransportationPairCorr
  0.92300261 Aba Chemicals CorpPairCorr
  0.87600459 Sino Platinum MetalsPairCorr
  0.93600512 Tengda ConstructionPairCorr
  0.88301370 GKHT Medical TechnologyPairCorr
  0.75601111 Air ChinaPairCorr
  0.84002269 Shanghai MetersbonwePairCorr
  0.92002995 Beijing Quanshi WorldPairCorr

Moving against Beijing Stock

  0.8600025 Huaneng Lancang RiverPairCorr
  0.42600236 Guangxi Guiguan ElectricPairCorr

Related Correlations Analysis

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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   
600000
+ 0.94
601318
300750
+ 0.94
601318
600016
+ 0.92
601318
300750
+ 0.92
600016
600028
+ 0.9
601857
600016
+ 0.9
600000
  
High negative correlations   
300750
- 0.35
600028
600028
- 0.24
601318
600028
- 0.12
600016
300750
- 0.12
601857
600028
- 0.03
600000
601318
- 0.0
601857

Risk-Adjusted Indicators

There is a big difference between Beijing Stock performing well and Beijing HuaYuanYiTong 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 Beijing HuaYuanYiTong'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601988  1.19  0.06 (0.06)(0.07) 1.48 
(1.44)
 2.67 
(2.86)
 7.70 
600519  1.68  0.09  0.01  0.30  1.86 
(1.99)
 6.55 
(2.98)
 16.71 
601857  1.41 (0.12) 0.00  0.90  0.00 
 0.00 
 3.43 
(3.33)
 17.17 
601328  1.38 (0.15) 0.00 (2.09) 0.00 
 0.00 
 3.26 
(3.60)
 10.82 
601318  1.85  0.36  0.13  0.85  1.84 
(2.27)
 5.83 
(2.83)
 19.77 
600941  1.01 (0.02)(0.09)(0.01) 1.21 
(1.16)
 2.05 
(2.04)
 8.38 
600000  1.40  0.08 (0.02) 2.61  1.58 
(1.74)
 3.69 
(2.94)
 10.95 
600016  1.39  0.20  0.05  2.84  1.69 
(1.70)
 3.39 
(2.40)
 12.81 
600028  1.43 (0.10) 0.00 (0.80) 0.00 
 0.00 
 4.21 
(3.26)
 10.77 
300750  2.71  0.66  0.16 (27.03) 3.09 
(3.24)
 7.94 
(3.41)
 33.42 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Beijing HuaYuanYiTong 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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