New Hope Correlations
| 000876 Stock | 9.47 0.03 0.32% |
The current 90-days correlation between New Hope Liuhe and Kweichow Moutai Co is 0.83 (i.e., Very poor diversification). The correlation of New Hope 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.
New Hope Correlation With Market
Good diversification
The correlation between New Hope Liuhe and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Hope Liuhe and DJI in the same portfolio, assuming nothing else is changed.
New |
The ability to find closely correlated positions to New Hope could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace New Hope 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 New Hope - 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 New Hope Liuhe to buy it.
Moving together with New Stock
| 0.85 | 605259 | Lutian Machinery | PairCorr |
| 0.87 | 001289 | China Longyuan Power | PairCorr |
| 0.84 | 603201 | Changshu Tongrun Auto | PairCorr |
| 0.86 | 605198 | Yantai North Andre | PairCorr |
| 0.78 | 601998 | China Citic Bank | PairCorr |
| 0.85 | 300600 | Changshu Ruite Electric | PairCorr |
| 0.8 | 300339 | Jiangsu Hoperun Software | PairCorr |
| 0.89 | 688298 | Zhejiang Orient Gene | PairCorr |
| 0.88 | 000625 | Chongqing Changan | PairCorr |
| 0.83 | 600229 | Qingdao Citymedia | PairCorr |
| 0.86 | 000001 | Ping An Bank | PairCorr |
Moving against New Stock
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between New Stock performing well and New Hope 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 New Hope'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 688235 | 2.55 | 0.27 | 0.06 | 0.83 | 2.94 | 6.23 | 18.86 | |||
| 600519 | 1.69 | 0.18 | 0.00 | (0.24) | 1.87 | 6.55 | 16.71 | |||
| 688169 | 3.25 | 0.35 | 0.01 | (0.12) | 4.23 | 6.51 | 34.80 | |||
| 603444 | 2.72 | 0.18 | 0.03 | 0.90 | 3.08 | 5.21 | 18.75 | |||
| 600941 | 1.02 | 0.05 | (0.08) | (0.10) | 1.16 | 2.05 | 8.38 | |||
| 688399 | 1.88 | (0.06) | 0.00 | 0.23 | 0.00 | 4.07 | 20.86 | |||
| 000661 | 2.31 | 0.45 | 0.13 | (1.52) | 2.03 | 7.55 | 17.13 | |||
| 002371 | 2.37 | 0.48 | 0.14 | (3.86) | 2.11 | 9.80 | 15.93 | |||
| 300750 | 2.70 | 0.77 | 0.16 | (0.76) | 3.07 | 7.94 | 33.42 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in New Hope 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.Did you try this?
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Analyst AdviceAnalyst recommendations and target price estimates broken down by several categories |
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New Hope Corporate Executives
Elected by the shareholders, the New Hope's board of directors comprises two types of representatives: New Hope inside directors who are chosen from within the company, and outside directors, selected externally and held independent of New. The board's role is to monitor New Hope's management team and ensure that shareholders' interests are well served. New Hope'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, New Hope's outside directors are responsible for providing unbiased perspectives on the board's policies.