Milkyway Chemical Correlations
| 603713 Stock | 53.77 1.41 2.56% |
The current 90-days correlation between Milkyway Chemical Supply and Tianjin Pengling Rubber is 0.68 (i.e., Poor diversification). The correlation of Milkyway Chemical 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.
Milkyway Chemical Correlation With Market
Significant diversification
The correlation between Milkyway Chemical Supply and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Milkyway Chemical Supply and DJI in the same portfolio, assuming nothing else is changed.
Milkyway |
The ability to find closely correlated positions to Milkyway Chemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Milkyway Chemical 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 Milkyway Chemical - 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 Milkyway Chemical Supply to buy it.
Moving together with Milkyway Stock
| 0.95 | 601668 | China State Construction | PairCorr |
| 0.95 | 601390 | China Railway Group | PairCorr |
| 0.93 | 601186 | China Railway Constr | PairCorr |
| 0.76 | 601398 | Industrial and Commercial | PairCorr |
| 0.95 | 601628 | China Life Insurance | PairCorr |
| 0.96 | 601318 | Ping An Insurance | PairCorr |
| 0.81 | 601939 | China Construction Bank | PairCorr |
Related Correlations Analysis
| 0.75 | 0.97 | 0.95 | 0.76 | 0.92 | 0.95 | 300375 | ||
| 0.75 | 0.68 | 0.61 | 0.79 | 0.69 | 0.68 | 688109 | ||
| 0.97 | 0.68 | 0.93 | 0.7 | 0.94 | 0.98 | 688119 | ||
| 0.95 | 0.61 | 0.93 | 0.59 | 0.87 | 0.91 | 600756 | ||
| 0.76 | 0.79 | 0.7 | 0.59 | 0.67 | 0.74 | 603239 | ||
| 0.92 | 0.69 | 0.94 | 0.87 | 0.67 | 0.92 | 301397 | ||
| 0.95 | 0.68 | 0.98 | 0.91 | 0.74 | 0.92 | 000927 | ||
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Risk-Adjusted Indicators
There is a big difference between Milkyway Stock performing well and Milkyway Chemical 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 Milkyway Chemical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 300375 | 2.34 | 0.46 | 0.10 | (8.02) | 3.23 | 4.07 | 27.97 | |||
| 688109 | 2.61 | 0.21 | 0.03 | (3.01) | 3.96 | 6.37 | 26.83 | |||
| 688119 | 2.36 | 0.58 | 0.15 | 10.30 | 2.75 | 5.13 | 24.87 | |||
| 600756 | 2.93 | 0.85 | 0.17 | (2.42) | 3.16 | 8.83 | 19.98 | |||
| 603239 | 1.98 | 0.30 | 0.09 | 1.50 | 2.25 | 4.60 | 18.13 | |||
| 301397 | 2.86 | 0.53 | 0.11 | (0.69) | 2.96 | 9.30 | 23.92 | |||
| 000927 | 1.77 | 0.35 | 0.09 | (1.60) | 2.24 | 3.50 | 14.21 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Milkyway Chemical 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?
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Milkyway Chemical Corporate Management
Elected by the shareholders, the Milkyway Chemical's board of directors comprises two types of representatives: Milkyway Chemical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Milkyway. The board's role is to monitor Milkyway Chemical's management team and ensure that shareholders' interests are well served. Milkyway Chemical'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, Milkyway Chemical's outside directors are responsible for providing unbiased perspectives on the board's policies.