Sinotrans Correlations

Stocks . China . 
Stock . Sinotrans Ltd Class
601598 Stock   5.23  0.12  2.24%   
The current 90-days correlation between Sinotrans Class and Ming Yang Smart is 0.49 (i.e., Very weak diversification). The correlation of Sinotrans 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.

Sinotrans Correlation With Market

Significant diversification

The correlation between Sinotrans Ltd Class and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sinotrans Ltd Class and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Sinotrans could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sinotrans 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 Sinotrans - 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 Sinotrans Ltd Class to buy it.

Moving together with Sinotrans Stock

  0.81601398 Industrial and CommercialPairCorr
  0.85601939 China Construction BankPairCorr
  0.71601988 Bank of ChinaPairCorr
  0.71601288 Agricultural BankPairCorr
  0.63601857 PetroChinaPairCorr
  0.87601318 Ping An InsurancePairCorr
  0.92600036 China Merchants BankPairCorr
  0.87601166 Industrial BankPairCorr
  0.66002303 Shenzhen MYS EnvironPairCorr
  0.75605128 Shanghai Yanpu MetalPairCorr
  0.65601929 JiShi MediaPairCorr
  0.74002074 Gotion High techPairCorr
  0.83000560 5I5j Holding GroupPairCorr
  0.64002575 Guangdong Qunxing ToysPairCorr
  0.61605388 JuneYao DairyPairCorr
  0.68600719 Dalian Thermal PowerPairCorr
  0.87605377 Hangzhou Huawang NewPairCorr
  0.88002847 Yankershop FoodPairCorr
  0.72002893 Beijing HuaYuanYiTongPairCorr
  0.64603818 Qumei Furniture GroupPairCorr
  0.75688047 Loongson Technology CorpPairCorr
  0.79300880 Ningbo Jianan ElectronicsPairCorr
  0.64300825 Iat Automobile TechnologyPairCorr
  0.74688507 Shanghai Suochen InfPairCorr
  0.81000661 Changchun High NewPairCorr
  0.67002584 Xilong ChemicalPairCorr
  0.66600515 Hainan HNA InfrastructurePairCorr
  0.85600633 Zhejiang Daily MediaPairCorr
  0.82600335 Sinomach AutomobilePairCorr
  0.86300433 Lens TechnologyPairCorr
  0.77603313 HealthcarePairCorr
  0.89600755 Xiamen ITG GroupPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Sinotrans Stock performing well and Sinotrans 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 Sinotrans' 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
601615  2.69  0.70  0.25  5.46  2.36 
(3.37)
 7.78 
(3.82)
 18.14 
159681  2.97  0.67  0.15 (10.04) 3.02 
(4.94)
 8.99 
(4.00)
 36.32 
159005  0.01  0.00  0.00 (1.28) 0.00 
 0.00 
 0.01 
(0.01)
 0.14 
300729  2.27  0.32  0.09  1.08  3.05 
(2.51)
 6.27 
(3.81)
 24.80 
002952  3.51  0.39  0.09  0.82  4.13 
(3.62)
 9.98 
(6.85)
 19.99 
516220  1.71  0.25  0.09 (1.28) 1.74 
(2.82)
 5.26 
(3.03)
 17.74 
002096  2.17  0.20  0.07  1.10  2.39 
(2.38)
 4.30 
(3.86)
 13.27 
002999  2.18  0.62  0.19  1.26  2.55 
(2.50)
 6.20 
(3.84)
 17.06 
300243  3.17  0.61  0.13 (0.90) 3.83 
(3.65)
 10.41 
(4.80)
 31.77 
603269  2.68  0.60  0.20  6.78  2.52 
(3.27)
 5.98 
(5.42)
 16.65 

Be your own money manager

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