Anhui Conch Correlations

Stocks . China . 
Stock . Anhui Conch Cement
600585 Stock   25.66  0.01  0.04%   
The current 90-days correlation between Anhui Conch Cement and Chongqing Changan Automobile is 0.55 (i.e., Very weak diversification). The correlation of Anhui Conch 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.

Anhui Conch Correlation With Market

Average diversification

The correlation between Anhui Conch Cement and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Conch Cement and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Anhui Conch could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Anhui Conch 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 Anhui Conch - 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 Anhui Conch Cement to buy it.

Moving together with Anhui Stock

  0.64601899 Zijin Mining GroupPairCorr
  0.62600309 Wanhua Chemical GroupPairCorr
  0.96600019 Baoshan Iron SteelPairCorr
  0.9002493 Rongsheng PetrochemicalPairCorr
  0.87600010 Inner Mongolia BaoTouPairCorr
  0.82002460 Jiangxi Ganfeng LithiumPairCorr
  0.86603260 Hoshine Silicon IndPairCorr
  0.95600160 Zhejiang JuhuaPairCorr
  0.93000807 Yunnan AluminiumPairCorr
  0.95601318 Ping An InsurancePairCorr
  0.9601728 China Telecom CorpPairCorr
  0.92601668 China State ConstructionPairCorr
  0.88600519 Kweichow MoutaiPairCorr
  0.93601628 China Life InsurancePairCorr

Moving against Anhui Stock

  0.32600028 China Petroleum ChemicalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Anhui Stock performing well and Anhui Conch 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 Anhui Conch'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Anhui Conch 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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