CHINA WATER Correlations

Stocks . Germany . 
Stock . CHINA WATER IGR
HAU2 Stock   0.03  0.00  0.00%   
The current 90-days correlation between CHINA WATER IGR and Apple Inc is 0.15 (i.e., Average diversification). The correlation of CHINA WATER 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.

CHINA WATER Correlation With Market

Average diversification

The correlation between CHINA WATER IGR and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHINA WATER IGR and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CHINA WATER 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 WATER 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 WATER - 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 WATER IGR to buy it.

Moving together with CHINA Stock

  0.64AXI Atos SEPairCorr

Moving against CHINA Stock

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  0.85M4I MastercardPairCorr
  0.81CQD Charter CommunicationsPairCorr
  0.8VA7A VERISK ANLYTCS APairCorr
  0.79SK3 Smurfit Kappa GroupPairCorr
  0.79PNP PNC FinancialPairCorr
  0.76M5V EHEALTHPairCorr
  0.76PPB Flutter Entertainment PLCPairCorr
  0.75EN3 EnbridgePairCorr
  0.74LIE Sun Life FinancialPairCorr
  0.73MSF MicrosoftPairCorr
  0.73SYY SyscoPairCorr
  0.72MSF MicrosoftPairCorr
  0.72MSF MicrosoftPairCorr
  0.72MSF MicrosoftPairCorr
  0.72MSF MicrosoftPairCorr
  0.71APC Apple IncPairCorr
  0.71APC Apple IncPairCorr
  0.7APC Apple IncPairCorr
  0.7APC Apple IncPairCorr
  0.7APC Apple IncPairCorr
  0.7APC Apple IncPairCorr
  0.67RZH SCOTT TECHNOLOGYPairCorr
  0.66HXL HexcelPairCorr
  0.514GE Grupo Mxico SABPairCorr
  0.43NGLD ANGLO AMERICAN SPADRPairCorr
  0.39NOA3 NokiaPairCorr
  0.932CDA Controladora Vuela CompaaPairCorr
  0.912WY Wyndham Hotels ResortsPairCorr
  0.9QAN Qantas AirwaysPairCorr
  0.88NT4 Northern TrustPairCorr
  0.86RC2 RCM TECHNOLOGIESPairCorr
  0.85PTX Palantir TechnologiesPairCorr
  0.83PCG6 PG E P6PairCorr
  0.83EQN2 EquinixPairCorr
  0.83HI91 Hilton Worldwide HoldingsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between CHINA Stock performing well and CHINA WATER 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 WATER'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
APC  0.88  0.27  0.21  1.34  0.89 
(0.99)
 1.81 
(1.75)
 4.97 
APC  0.85  0.26  0.19  0.94  0.98 
(0.93)
 1.88 
(1.73)
 5.24 
APC  0.86  0.26  0.22  0.75  0.84 
(0.95)
 2.06 
(1.76)
 4.50 
APC  0.93  0.27  0.18  15.95  1.04 
(0.99)
 2.22 
(1.83)
 6.45 
APC  0.95  0.28  0.24  5.15  0.74 
(1.11)
 2.83 
(1.69)
 5.24 
APC  0.84  0.27  0.21  1.52  1.00 
(0.95)
 1.88 
(1.61)
 6.46 
MSF  0.96  0.11  0.07  0.57  1.25 
(1.17)
 2.55 
(1.46)
 8.71 
MSF  1.05  0.11  0.06  1.51  1.38 
(1.17)
 2.35 
(1.75)
 9.11 
MSF  1.00  0.11  0.06  1.06  1.48 
(1.16)
 2.42 
(1.66)
 11.42 
MSF  0.92  0.11  0.06 (14.37) 1.33 
(1.00)
 2.04 
(1.49)
 8.79 

CHINA WATER Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with CHINA WATER stock to make a market-neutral strategy. Peer analysis of CHINA WATER could also be used in its relative valuation, which is a method of valuing CHINA WATER by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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