China Mobile Correlations

00941 Stock   14.00  0.08  0.57%   
The current 90-days correlation between China Mobile and BenQ Medical Technology is 0.27 (i.e., Modest diversification). The correlation of China Mobile 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. If the correlation is 0, the equities are not correlated; they are entirely random.

China Mobile Correlation With Market

Average diversification

The correlation between China Mobile and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Mobile and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to China Mobile could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace China Mobile 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 China Mobile - 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 China Mobile to buy it.

Moving together with China Stock

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  0.680051 YuantaP shares TaiwanPairCorr

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   
41091799
27044116
12272704
41091227
41094116
12274116
  
High negative correlations   
62316657
17992736
17996657
41096657
66574116
27366657

Risk-Adjusted Indicators

There is a big difference between China Stock performing well and China Mobile 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 China Mobile'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.

China Mobile Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with China Mobile stock to make a market-neutral strategy. Peer analysis of China Mobile could also be used in its relative valuation, which is a method of valuing China Mobile by comparing valuation metrics with similar companies.
 Risk & Return  Correlation