China Teletech Correlations

CNCT Stock

USD 0.0008 0.0007 46.67%

The correlation of China Teletech 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.

China Teletech Correlation With Market

Average diversification

The correlation between China Teletech Holding and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Teletech Holding and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China Teletech 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 Teletech 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 Teletech - 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 Teletech Holding to buy it.

Moving together with China Pink Sheet

0.66	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.69	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against China Pink Sheet

0.75	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.73	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.72	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.7	VLKAF	Volkswagen AG	Pair Corr
0.68	VWAGY	Volkswagen AG 110	Pair Corr
0.67	VLKPF	Volkswagen AG VZO	Pair Corr
0.67	DPSTF	Deutsche Post AG	Pair Corr
0.66	VWAPY	Volkswagen AG Pref	Pair Corr
0.51	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.41	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.39	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.39	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.32	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr

Related Correlations Analysis

	OCLG	APSI	DWACU	WBBA	TAKD	CNHC	CNDB	BABL	KATX
OCLG		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OCLG
APSI	0.0		0.09	-0.33	0.67	-0.1	0.02	-0.29	-0.61	APSI
DWACU	0.0	0.09		-0.11	0.0	-0.04	0.15	-0.2	-0.2	DWACU
WBBA	0.0	-0.33	-0.11		-0.42	-0.36	-0.6	0.47	0.24	WBBA
TAKD	0.0	0.67	0.0	-0.42		-0.04	0.3	-0.28	-0.6	TAKD
CNHC	0.0	-0.1	-0.04	-0.36	-0.04		0.4	-0.44	0.36	CNHC
CNDB	0.0	0.02	0.15	-0.6	0.3	0.4		-0.42	-0.03	CNDB
BABL	0.0	-0.29	-0.2	0.47	-0.28	-0.44	-0.42		0.05	BABL
KATX	0.0	-0.61	-0.2	0.24	-0.6	0.36	-0.03	0.05		KATX
	OCLG	APSI	DWACU	WBBA	TAKD	CNHC	CNDB	BABL	KATX

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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

TAKD	+ 0.67	APSI
BABL	+ 0.47	WBBA
CNDB	+ 0.4	CNHC
KATX	+ 0.36	CNHC
CNDB	+ 0.3	TAKD
KATX	+ 0.24	WBBA

High negative correlations

KATX	- 0.61	APSI
KATX	- 0.6	TAKD
CNDB	- 0.6	WBBA
BABL	- 0.44	CNHC
BABL	- 0.42	CNDB
TAKD	- 0.42	WBBA

Risk-Adjusted Indicators

There is a big difference between China Pink Sheet performing well and China Teletech 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 Teletech'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
OCLG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APSI	5.63	0.86	0.07	0.60	6.47	(13.44)	19.51	(16.81)	74.42
DWACU	3.49	0.75	0.15	(2.98)	2.89	(6.38)	6.84	(7.22)	32.22
WBBA	349.84	176.14	2.70	2.35	33.41	(1,270)	1,726	(89.95)	5,497
TAKD	33.12	16.18	0.00	(0.64)	0.00	0.00	0.00	(0.50)	1,164
CNHC	2.76	(0.72)	0.00	5.65	0.00	0.00	0.00	0.00	68.57
CNDB	0.03	(0.01)	0.00	1.03	0.00	0.00	0.10	(0.10)	0.38
BABL	1,017	534.40	8.31	8.63	54.19	(4,038)	1,500	(93.42)	14,517
KATX	14.87	1.51	0.06	1.65	14.43	(32.29)	33.33	(25.00)	83.33

Be your own money manager

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