COSCO SHIPPING Correlations

CICOY Stock  USD 7.05  0.05  0.70%   
The current 90-days correlation between COSCO SHIPPING Holdings and Hapag Lloyd Aktiengesellschaft is 0.27 (i.e., Modest diversification). The correlation of COSCO SHIPPING 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.

COSCO SHIPPING Correlation With Market

Good diversification

The correlation between COSCO SHIPPING Holdings and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding COSCO SHIPPING Holdings and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to COSCO SHIPPING could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace COSCO SHIPPING 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 COSCO SHIPPING - 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 COSCO SHIPPING Holdings to buy it.

Moving together with COSCO Pink Sheet

  0.64HPGLY Hapag Lloyd AktiengePairCorr
  0.7HLAGF Hapag-Lloyd AktiengesellschaPairCorr
  0.85CICOF COSCO SHIPPING HoldingsPairCorr
  0.71BLK BlackRock Fiscal Year End 10th of January 2025 PairCorr
  0.62OMIC Singular Genomics SystemsPairCorr
  0.78JXN-PA Jackson FinancialPairCorr
  0.63MET MetLife Sell-off TrendPairCorr

Moving against COSCO Pink Sheet

  0.8EPGG Empire Global GamingPairCorr
  0.75TPDDF Talon EnergyPairCorr
  0.53IMHC Imperalis Holding CorpPairCorr

Related Correlations Analysis

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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   
AMKBFAMKBY
HLAGFHPGLY
AMKAFAMKBY
SBLKNPNYY
AMKAFAMKBF
SITIYHPGLY
  
High negative correlations   
HLAGFOROVF
AMKBFOROVF
OROVFHPGLY
SITIYSBLK
OROVFAMKBY
AMKBFNPNYY

Risk-Adjusted Indicators

There is a big difference between COSCO Pink Sheet performing well and COSCO SHIPPING 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 COSCO SHIPPING'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MSLOY  1.43 (0.01) 0.00  0.23  0.00 
 2.98 
 10.51 
HPGLY  1.85  0.21 (0.01)(0.06) 3.06 
 5.21 
 20.87 
AMKBY  2.22  0.31  0.03 (0.25) 2.58 
 4.70 
 13.67 
OROVF  0.88 (0.29) 0.00  16.22  0.00 
 0.07 
 16.50 
NPNYY  1.71 (0.14) 0.00  0.69  0.00 
 2.85 
 14.63 
AMKBF  1.63  0.14  0.00 (2.75) 1.80 
 5.76 
 11.96 
SBLK  1.56 (0.35) 0.00 (0.35) 0.00 
 3.44 
 10.19 
HLAGF  1.79  0.19 (0.01)(0.11) 2.43 
 5.24 
 24.56 
AMKAF  1.47  0.09 (0.01)(0.52) 2.19 
 3.45 
 24.11 
SITIY  4.66  0.65  0.04 (0.33) 5.98 
 11.33 
 44.75 

Be your own money manager

Our tools can tell you how much better you can do entering a position in COSCO SHIPPING 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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COSCO SHIPPING Corporate Management

Junguang XiaoCompany CounselProfile
Zhijian YangGM DirectorProfile
Madam YuDeputy MangProfile
Hongwei XuHead DepartmentProfile
Ming QianDeputy MangProfile
Min WanDeputy General ManagerProfile