ADAMA Correlations

000553 Stock   6.60  0.19  2.80%   
The current 90-days correlation between ADAMA and Lingyuan Iron Steel is 0.38 (i.e., Weak diversification). The correlation of ADAMA 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.

ADAMA Correlation With Market

Very good diversification

The correlation between ADAMA and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ADAMA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ADAMA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ADAMA 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 ADAMA - 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 ADAMA to buy it.

Moving together with ADAMA Stock

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  0.83000807 Yunnan AluminiumPairCorr
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  0.91600769 Wuhan Xianglong PowerPairCorr
  0.94002693 Hainan ShuangchengPairCorr
  0.79301269 Empyrean TechnologyPairCorr
  0.93002625 Kuang Chi TechnologiesPairCorr
  0.94301259 Hunan Airbluer EnvirPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between ADAMA Stock performing well and ADAMA 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 ADAMA'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 ADAMA 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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ADAMA Corporate Management

Elected by the shareholders, the ADAMA's board of directors comprises two types of representatives: ADAMA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ADAMA. The board's role is to monitor ADAMA's management team and ensure that shareholders' interests are well served. ADAMA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, ADAMA's outside directors are responsible for providing unbiased perspectives on the board's policies.
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