Guangdong Electric Correlations

200539 Stock   2.05  0.01  0.49%   
The current 90-days correlation between Guangdong Electric Power and Industrial and Commercial is 0.31 (i.e., Weak diversification). The correlation of Guangdong Electric 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.

Guangdong Electric Correlation With Market

Good diversification

The correlation between Guangdong Electric Power and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Electric Power and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Guangdong Electric could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guangdong Electric 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 Guangdong Electric - 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 Guangdong Electric Power to buy it.

Moving together with Guangdong Stock

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  0.88601665 Qilu BankPairCorr
  0.92600000 Shanghai Pudong DevePairCorr
  0.73002129 TCL Zhonghuan RenewablePairCorr
  0.78600885 Hongfa TechnologyPairCorr
  0.72300750 Contemporary AmperexPairCorr
  0.71000009 China Baoan GroupPairCorr
  0.7000063 ZTE CorpPairCorr
  0.65000555 Digital China InformationPairCorr
  0.77600346 Hengli PetrochemicalPairCorr
  0.88601166 Industrial BankPairCorr
  0.78688235 BeiGenePairCorr
  0.68600675 China EnterprisePairCorr
  0.83000157 Zoomlion Heavy IndustryPairCorr
  0.86301015 Qingdao Baheal MedicalPairCorr
  0.93601138 Foxconn IndustrialPairCorr
  0.69600522 Jiangsu ZhongtianPairCorr
  0.79000792 Qinghai Salt LakePairCorr
  0.62688318 Shenzhen Fortune TrendPairCorr
  0.64002368 Taiji Computer CorpPairCorr
  0.84900934 Shanghai Jin JiangPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guangdong Stock performing well and Guangdong Electric 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 Guangdong Electric'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
601398  1.09  0.25  0.18  3.08  1.01 
 2.83 
 8.14 
601288  1.02  0.18  0.11  1.44  1.25 
 2.20 
 7.78 
601939  1.11  0.26  0.16  1.80  1.16 
 3.32 
 8.64 
601988  1.00  0.19  0.14  1.27  0.97 
 2.67 
 7.70 
601658  1.34  0.28  0.15  1.71  1.32 
 3.49 
 9.13 
601328  1.31  0.21  0.13  4.52  1.24 
 3.26 
 10.82 
601318  1.80  0.35  0.14  1.10  1.95 
 5.83 
 19.77 
600036  1.56  0.37  0.17 (3.67) 1.76 
 4.65 
 13.83 
601166  1.38  0.25  0.12  1.73  1.50 
 3.84 
 12.07 
601998  1.49  0.26  0.11  3.45  1.81 
 3.02 
 13.33 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guangdong Electric 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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Guangdong Electric Corporate Management

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