Tangshan Jidong Correlations

000401 Stock

5.72 0.07 1.21%

The current 90-days correlation between Tangshan Jidong Cement and Haima Automobile Group is 0.51 (i.e., Very weak diversification). The correlation of Tangshan Jidong 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.

Tangshan Jidong Correlation With Market

Good diversification

The correlation between Tangshan Jidong Cement and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tangshan Jidong Cement and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tangshan Stock

0.9	600019	Baoshan Iron Steel	Pair Corr
0.91	002493	Rongsheng Petrochemical	Pair Corr
0.94	600010	Inner Mongolia BaoTou	Pair Corr
0.88	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.9	603260	Hoshine Silicon Ind	Pair Corr
0.95	600160	Zhejiang Juhua	Pair Corr
0.9	000807	Yunnan Aluminium	Pair Corr
0.7	601658	Postal Savings Bank	Pair Corr
0.86	601728	China Telecom Corp	Pair Corr
0.91	900957	Shanghai Lingyun Ind	Pair Corr

Moving against Tangshan Stock

0.43

600028

China Petroleum Chemical

Pair Corr

Related Correlations Analysis

	000678	000572	000913	002121	300296	600335	000980	002156
000678		0.89	0.73	0.87	0.84	0.9	0.93	0.89	000678
000572	0.89		0.5	0.76	0.78	0.8	0.95	0.93	000572
000913	0.73	0.5		0.73	0.67	0.77	0.6	0.55	000913
002121	0.87	0.76	0.73		0.88	0.93	0.86	0.82	002121
300296	0.84	0.78	0.67	0.88		0.95	0.87	0.84	300296
600335	0.9	0.8	0.77	0.93	0.95		0.9	0.86	600335
000980	0.93	0.95	0.6	0.86	0.87	0.9		0.97	000980
002156	0.89	0.93	0.55	0.82	0.84	0.86	0.97		002156
	000678	000572	000913	002121	300296	600335	000980	002156

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Risk-Adjusted Indicators

There is a big difference between Tangshan Stock performing well and Tangshan Jidong 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 Tangshan Jidong'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
000678	3.17	0.63	0.10	(0.46)	3.16	(3.75)	9.94	(5.06)	20.00
000572	3.04	0.71	0.11	(0.95)	3.79	(3.40)	9.94	(6.53)	19.60
000913	2.30	0.31	0.05	(1.25)	2.76	(2.50)	5.53	(4.65)	20.00
002121	2.41	0.51	0.11	(1.18)	2.61	(2.53)	6.42	(4.72)	19.21
300296	2.83	0.27	0.04	2.32	3.47	(3.12)	5.68	(4.89)	27.58
600335	1.96	0.28	0.05	(2.32)	2.41	(2.06)	3.58	(3.67)	18.66
000980	3.75	0.96	0.19	(2.54)	3.41	(4.63)	10.00	(6.28)	20.19
002156	3.09	0.83	0.18	(1.09)	2.95	(3.65)	10.00	(5.77)	19.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tangshan Jidong 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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