CNPC Capital Correlations

000617 Stock

7.14 0.04 0.56%

The current 90-days correlation between CNPC Capital and Ming Yang Smart is 0.16 (i.e., Average diversification). The correlation of CNPC Capital 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.

CNPC Capital Correlation With Market

Significant diversification

The correlation between CNPC Capital Co and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CNPC Capital Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CNPC Stock

0.68	300769	Shenzhen Dynanonic	Pair Corr
0.81	601186	China Railway Constr	Pair Corr
0.79	688403	Union Semiconductor	Pair Corr
0.62	002800	Xinjiang Tianshun Supply	Pair Corr
0.87	688065	Cathay Biotech	Pair Corr
0.91	688375	Guobo Electronics	Pair Corr
0.71	601881	China Galaxy Securities	Pair Corr
0.67	300439	Ningbo MedicalSystem	Pair Corr
0.78	603799	Zhejiang Huayou Cobalt	Pair Corr
0.84	300433	Lens Technology	Pair Corr
0.83	000878	Yunnan Copper	Pair Corr
0.76	002594	BYD Co	Pair Corr
0.76	688298	Zhejiang Orient Gene	Pair Corr
0.7	601319	Peoples Insurance	Pair Corr
0.75	300841	Chengdu Kanghua Biol	Pair Corr

Moving against CNPC Stock

0.47

508077

Huaxia Fund Management

Pair Corr

Related Correlations Analysis

	601615	159681	159005	300729	002952	516220	002096	002999	300243	603269
601615		0.76	0.92	0.82	0.77	0.73	0.49	0.92	0.72	0.85	601615
159681	0.76		0.64	0.84	0.79	0.96	0.79	0.64	0.75	0.77	159681
159005	0.92	0.64		0.64	0.61	0.58	0.4	0.86	0.63	0.78	159005
300729	0.82	0.84	0.64		0.69	0.83	0.54	0.79	0.69	0.73	300729
002952	0.77	0.79	0.61	0.69		0.78	0.67	0.6	0.7	0.87	002952
516220	0.73	0.96	0.58	0.83	0.78		0.72	0.63	0.78	0.71	516220
002096	0.49	0.79	0.4	0.54	0.67	0.72		0.37	0.52	0.65	002096
002999	0.92	0.64	0.86	0.79	0.6	0.63	0.37		0.62	0.73	002999
300243	0.72	0.75	0.63	0.69	0.7	0.78	0.52	0.62		0.62	300243
603269	0.85	0.77	0.78	0.73	0.87	0.71	0.65	0.73	0.62		603269
	601615	159681	159005	300729	002952	516220	002096	002999	300243	603269

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Risk-Adjusted Indicators

There is a big difference between CNPC Stock performing well and CNPC Capital 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 CNPC Capital'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
601615	2.75	0.70	0.25	3.01	2.42	(3.44)	7.78	(3.82)	18.14
159681	2.97	0.68	0.16	1.64	3.05	(4.78)	8.99	(4.00)	36.32
159005	0.01	0.00	0.00	0.95	0.00	0.00	0.01	0.00	0.14
300729	2.28	0.21	0.05	0.54	3.15	(2.44)	6.27	(4.21)	24.80
002952	3.12	0.51	0.11	1.03	3.95	(3.10)	9.02	(6.36)	19.99
516220	1.73	0.28	0.09	146.52	1.75	(2.77)	5.26	(3.03)	17.74
002096	2.22	0.16	0.04	(0.35)	2.47	(2.44)	4.30	(4.45)	13.27
002999	2.61	0.30	0.08	0.41	3.21	(2.87)	6.20	(5.34)	17.06
300243	3.23	0.53	0.11	(2.16)	4.03	(3.55)	10.41	(5.67)	31.77
603269	2.81	0.49	0.14	(2.99)	2.89	(3.21)	5.98	(5.73)	16.65

Be your own money manager

Our tools can tell you how much better you can do entering a position in CNPC Capital 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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CNPC Capital Corporate Executives

Elected by the shareholders, the CNPC Capital's board of directors comprises two types of representatives: CNPC Capital inside directors who are chosen from within the company, and outside directors, selected externally and held independent of CNPC. The board's role is to monitor CNPC Capital's management team and ensure that shareholders' interests are well served. CNPC Capital'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, CNPC Capital's outside directors are responsible for providing unbiased perspectives on the board's policies.

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