Yunnan Chihong Correlations

600497 Stock

5.75 0.07 1.23%

The current 90-days correlation between Yunnan Chihong ZincG and By health is 0.72 (i.e., Poor diversification). The correlation of Yunnan Chihong 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.

Yunnan Chihong Correlation With Market

Good diversification

The correlation between Yunnan Chihong ZincGermanium and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yunnan Chihong ZincGermanium and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Yunnan Stock

0.8	600019	Baoshan Iron Steel	Pair Corr
0.78	002493	Rongsheng Petrochemical	Pair Corr
0.91	600010	Inner Mongolia BaoTou	Pair Corr
0.75	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.78	603260	Hoshine Silicon Ind	Pair Corr
0.86	600160	Zhejiang Juhua	Pair Corr
0.79	000807	Yunnan Aluminium	Pair Corr
0.84	601628	China Life Insurance	Pair Corr
0.81	601059	Cinda Securities	Pair Corr
0.81	688072	Piotech Inc A	Pair Corr
0.97	601198	Dongxing Sec	Pair Corr
0.81	688293	Shanghai OPM Biosciences	Pair Corr
0.77	688126	National Silicon Industry	Pair Corr
0.83	000504	Nanhua Bio Medicine	Pair Corr
0.72	000061	Shenzhen Agricultural	Pair Corr
0.86	688012	Advanced Micro Fabri	Pair Corr
0.85	000555	Digital China Information	Pair Corr
0.92	000425	XCMG Construction	Pair Corr
0.61	603610	Keeson Technology Corp	Pair Corr
0.83	603259	WuXi AppTec	Pair Corr
0.84	002371	NAURA Technology	Pair Corr
0.85	002812	Yunnan Chuangxin New	Pair Corr
0.89	601336	New China Life	Pair Corr
0.76	002998	Elite Color Environmental	Pair Corr
0.73	300939	Shenzhen AV Display	Pair Corr
0.88	000408	Zangge Holding	Pair Corr
0.9	002368	Taiji Computer Corp	Pair Corr
0.86	002382	Blue Sail Medical	Pair Corr
0.85	300391	Kangyue Technology	Pair Corr
0.75	300729	Loctek Ergonomic Tec	Pair Corr
0.62	002743	Anhui Fuhuang Steel	Pair Corr
0.87	000157	Zoomlion Heavy Industry	Pair Corr

Moving against Yunnan Stock

0.31

600547

Shandong Gold Mining

Pair Corr

Related Correlations Analysis

	300146	300375	300478	603182	301059	002044
300146		0.73	0.48	0.56	0.48	0.46	300146
300375	0.73		0.87	0.9	0.84	0.82	300375
300478	0.48	0.87		0.9	0.84	0.94	300478
603182	0.56	0.9	0.9		0.81	0.92	603182
301059	0.48	0.84	0.84	0.81		0.85	301059
002044	0.46	0.82	0.94	0.92	0.85		002044
	300146	300375	300478	603182	301059	002044

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Risk-Adjusted Indicators

There is a big difference between Yunnan Stock performing well and Yunnan Chihong 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 Yunnan Chihong'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
300146	2.20	0.29	0.10	1.92	2.63	(3.00)	5.72	(3.85)	27.56
300375	2.49	0.40	0.09	2.00	3.49	(2.56)	4.07	(5.48)	27.97
300478	2.95	0.51	0.11	(2.97)	3.88	(3.35)	8.00	(8.59)	28.77
603182	1.81	0.24	0.08	0.40	2.69	(1.80)	3.66	(3.75)	15.83
301059	3.27	0.81	0.19	(3.52)	3.40	(3.72)	10.05	(6.77)	28.11
002044	2.36	0.61	0.18	(1.36)	2.45	(2.72)	5.10	(4.71)	18.07

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Our tools can tell you how much better you can do entering a position in Yunnan Chihong 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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