China National Correlations

CBUMY Stock

USD 21.21 0.43 2.07%

The current 90-days correlation between China National Building and Anhui Conch Cement is 0.23 (i.e., Modest diversification). The correlation of China National 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. If the correlation is 0, the equities are not correlated; they are entirely random.

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

Moving together with China Pink Sheet

0.62	MLM	Martin Marietta Materials	Pair Corr
0.93	AHCHY	Anhui Conch Cement	Pair Corr
0.87	AHCHF	Anhui Conch Cement	Pair Corr
0.92	SSNLF	Samsung Electronics	Pair Corr
0.79	PTAIF	PT Astra International	Pair Corr
0.62	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.83	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.77	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.83	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.73	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.64	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.72	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against China Pink Sheet

0.74	BKRKF	PT Bank Rakyat	Pair Corr
0.74	BKRKY	Bank Rakyat	Pair Corr
0.71	TLK	Telkom Indonesia Tbk	Pair Corr
0.69	PPERY	Bank Mandiri Persero	Pair Corr
0.68	PPERF	Bank Mandiri Persero	Pair Corr
0.39	JHX	James Hardie Industries	Pair Corr
0.36	PBCRY	Bank Central Asia	Pair Corr
0.7	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.58	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.51	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.45	PG	Procter Gamble Sell-off Trend	Pair Corr

Related Correlations Analysis

	AHCHF	BZZUY	WBRBY	HCMLY	PPCLY	AHCHY	HDELY	HCMLF
AHCHF		0.13	-0.38	0.33	-0.11	0.94	0.26	0.17	AHCHF
BZZUY	0.13		-0.4	0.77	0.05	0.2	0.93	0.67	BZZUY
WBRBY	-0.38	-0.4		-0.35	-0.49	-0.38	-0.54	-0.43	WBRBY
HCMLY	0.33	0.77	-0.35		0.03	0.43	0.88	0.6	HCMLY
PPCLY	-0.11	0.05	-0.49	0.03		-0.06	0.15	-0.01	PPCLY
AHCHY	0.94	0.2	-0.38	0.43	-0.06		0.34	0.23	AHCHY
HDELY	0.26	0.93	-0.54	0.88	0.15	0.34		0.72	HDELY
HCMLF	0.17	0.67	-0.43	0.6	-0.01	0.23	0.72		HCMLF
	AHCHF	BZZUY	WBRBY	HCMLY	PPCLY	AHCHY	HDELY	HCMLF

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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

AHCHY	+ 0.94	AHCHF
HDELY	+ 0.93	BZZUY
HDELY	+ 0.88	HCMLY
HCMLY	+ 0.77	BZZUY
HCMLF	+ 0.72	HDELY
HCMLF	+ 0.67	BZZUY

High negative correlations

HDELY	- 0.54	WBRBY
PPCLY	- 0.49	WBRBY
HCMLF	- 0.43	WBRBY
WBRBY	- 0.4	BZZUY
AHCHY	- 0.38	WBRBY
WBRBY	- 0.38	AHCHF

Risk-Adjusted Indicators

There is a big difference between China Pink Sheet performing well and China National 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 China National'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
AHCHF	3.65	0.51	0.05	(0.83)	4.33	(5.07)	8.96	(8.22)	28.42
BZZUY	1.14	(0.03)	0.00	0.10	1.12	(2.00)	2.83	(2.44)	11.48
WBRBY	2.29	(0.21)	0.00	(1.53)	0.00	0.00	4.62	(5.27)	13.32
HCMLY	0.87	0.02	(0.03)	0.17	0.97	(0.92)	1.77	(1.71)	6.48
PPCLY	1.74	(0.02)	0.00	0.11	0.00	0.00	3.03	(5.71)	43.58
AHCHY	2.52	0.37	0.07	8.92	2.97	(2.89)	5.94	(4.19)	22.18
HDELY	1.18	0.19	0.14	0.38	0.97	(1.43)	3.15	(1.94)	9.40
HCMLF	0.64	0.05	(0.03)	0.58	0.82	(1.99)	1.60	(2.69)	9.04

Be your own money manager

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