Liaoning Dingjide Correlations

603255 Stock

31.14 0.34 1.08%

The current 90-days correlation between Liaoning Dingjide and Zijin Mining Group is 0.14 (i.e., Average diversification). The correlation of Liaoning Dingjide 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.

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

Moving together with Liaoning Stock

0.66	600019	Baoshan Iron Steel	Pair Corr
0.79	600010	Inner Mongolia BaoTou	Pair Corr
0.82	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.67	603260	Hoshine Silicon Ind	Pair Corr
0.76	600160	Zhejiang Juhua	Pair Corr
0.69	600153	Xiamen CD	Pair Corr
0.77	300750	Contemporary Amperex	Pair Corr
0.81	600340	China Fortune Land	Pair Corr
0.85	300825	Iat Automobile Technology	Pair Corr
0.8	603969	Tianjin Silvery Dragon	Pair Corr
0.86	605388	JuneYao Dairy	Pair Corr
0.61	605377	Hangzhou Huawang New	Pair Corr
0.67	301379	Techshine Electronics	Pair Corr
0.81	601929	JiShi Media	Pair Corr
0.87	603313	Healthcare	Pair Corr
0.77	300815	Eit Environmental	Pair Corr
0.89	603068	Beken Corp	Pair Corr
0.71	000506	Zhongrun Resources	Pair Corr
0.87	002400	Guangdong Advertising	Pair Corr
0.65	688507	Shanghai Suochen Inf	Pair Corr
0.69	002893	Beijing HuaYuanYiTong	Pair Corr
0.62	000560	5I5j Holding Group	Pair Corr
0.83	600335	Sinomach Automobile	Pair Corr

Moving against Liaoning Stock

0.7	600547	Shandong Gold Mining	Pair Corr
0.55	601899	Zijin Mining Group	Pair Corr

Related Correlations Analysis

	601899	600019	600547	002493	600010	002460	603260	600160	000807
601899		0.09	0.91	0.19	-0.35	-0.42	-0.11	-0.17	0.44	601899
600019	0.09		-0.25	0.63	0.71	0.62	0.7	0.86	0.7	600019
600547	0.91	-0.25		-0.03	-0.64	-0.61	-0.36	-0.5	0.12	600547
002493	0.19	0.63	-0.03		0.65	0.71	0.76	0.66	0.62	002493
600010	-0.35	0.71	-0.64	0.65		0.86	0.76	0.84	0.54	600010
002460	-0.42	0.62	-0.61	0.71	0.86		0.75	0.78	0.33	002460
603260	-0.11	0.7	-0.36	0.76	0.76	0.75		0.79	0.58	603260
600160	-0.17	0.86	-0.5	0.66	0.84	0.78	0.79		0.6	600160
000807	0.44	0.7	0.12	0.62	0.54	0.33	0.58	0.6		000807
	601899	600019	600547	002493	600010	002460	603260	600160	000807

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

600547	+ 0.91	601899
600160	+ 0.86	600019
002460	+ 0.86	600010
600160	+ 0.84	600010
600160	+ 0.79	603260
600160	+ 0.78	002460

High negative correlations

600010	- 0.64	600547
002460	- 0.61	600547
600160	- 0.5	600547
002460	- 0.42	601899
603260	- 0.36	600547
600010	- 0.35	601899

Risk-Adjusted Indicators

There is a big difference between Liaoning Stock performing well and Liaoning Dingjide 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 Liaoning Dingjide'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
601899	1.62	0.05	0.01	0.36	2.02	(1.64)	3.26	(3.21)	10.10
600019	1.67	0.38	0.13	2.01	2.05	(1.77)	4.80	(3.10)	17.37
600547	1.35	(0.15)	0.00	2.76	0.00	0.00	2.39	(2.95)	12.15
002493	1.52	0.18	0.07	1.05	1.97	(1.71)	4.12	(2.86)	15.52
600010	2.47	0.51	0.17	1.26	2.46	(3.16)	7.46	(4.00)	19.48
002460	3.21	0.61	0.17	3.89	3.09	(3.89)	9.99	(6.14)	20.00
603260	2.02	0.25	0.08	13.91	2.50	(2.14)	4.90	(3.79)	17.89
600160	2.11	0.60	0.24	(2.35)	1.85	(2.46)	6.09	(3.85)	15.23
000807	2.00	0.34	0.12	3.85	2.27	(2.17)	5.75	(3.27)	15.53

Be your own money manager

Our tools can tell you how much better you can do entering a position in Liaoning Dingjide 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.

Did you try this?

Run Idea Breakdown Now

Idea Breakdown

Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes

All Next

Launch Module

Liaoning Dingjide Corporate Management

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

Zaiming Zhang	Executive Board	Profile
Jinge Li	Deputy Manager	Profile
Xiaoming Wu	Deputy Manager	Profile
Ping Zhu	Deputy Manager	Profile
Hung Wang	Deputy Secretary	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC