ZTO EXPRESS Correlations

Stocks Germany . 
Stock . ZTO EXPRESS
ZTOB Stock  EUR 18.80  0.10  0.53%   
The correlation of ZTO EXPRESS 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.

ZTO EXPRESS Correlation With Market

Good diversification

The correlation between ZTO EXPRESS and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ZTO EXPRESS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ZTO EXPRESS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ZTO EXPRESS 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 ZTO EXPRESS - 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 ZTO EXPRESS to buy it.

Moving against ZTO Stock

  0.787WE SENKO GROUP HOLDINGSPairCorr
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  0.66APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.59SGR SINGAPORE POSTPairCorr
  0.44S8G1 SUPER GROUP LTDPairCorr
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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   
S8G1
+ 0.85
SGR
S8G1
+ 0.82
7WE
SGR
+ 0.78
7WE
7WE
+ 0.68
1CM
SGR
+ 0.65
1CM
S8G1
+ 0.63
1CM
  
High negative correlations   
7WE
- 0.88
KNIU
7WE
- 0.78
ZTOB
S8G1
- 0.73
KNIU
1CM
- 0.72
ZTOB
SGR
- 0.64
KNIU
S8G1
- 0.62
NRSA

Risk-Adjusted Indicators

There is a big difference between ZTO Stock performing well and ZTO EXPRESS 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 ZTO EXPRESS'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in ZTO EXPRESS 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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