Aerospace Hi-Tech Correlations
| 000901 Stock | 11.31 0.03 0.26% |
The current 90-days correlation between Aerospace Hi Tech and Loctek Ergonomic Technology is 0.54 (i.e., Very weak diversification). The correlation of Aerospace Hi-Tech 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.
Aerospace Hi-Tech Correlation With Market
Average diversification
The correlation between Aerospace Hi Tech Holding and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aerospace Hi Tech Holding and DJI in the same portfolio, assuming nothing else is changed.
Aerospace |
The ability to find closely correlated positions to Aerospace Hi-Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aerospace Hi-Tech 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 Aerospace Hi-Tech - 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 Aerospace Hi Tech Holding to buy it.
Moving together with Aerospace Stock
| 0.75 | 688443 | Chongqing Genrix Bio | PairCorr |
| 0.89 | 688047 | Loongson Technology Corp | PairCorr |
| 0.76 | 688318 | Shenzhen Fortune Trend | PairCorr |
| 0.92 | 600106 | Chongqing Road Bridge | PairCorr |
| 0.86 | 600816 | Anxin Trust | PairCorr |
| 0.85 | 300578 | BizConf Telecom | PairCorr |
| 0.66 | 688103 | Kunshan Guoli Electronic | PairCorr |
| 0.61 | 688013 | Touchstone International | PairCorr |
Moving against Aerospace Stock
| 0.58 | 688256 | Cambricon Technologies | PairCorr |
| 0.52 | 300561 | SGSG Sciencetechnology | PairCorr |
| 0.43 | 601169 | Bank of Beijing Co Ltd | PairCorr |
| 0.42 | 688981 | Semiconductor Manufacturing | PairCorr |
| 0.32 | 600368 | Guangxi Wuzhou Commu | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Aerospace Stock performing well and Aerospace Hi-Tech 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 Aerospace Hi-Tech'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601336 | 1.78 | (0.01) | (0.01) | (0.02) | 2.21 | 3.59 | 11.66 | |||
| 601615 | 1.90 | (0.18) | 0.00 | (0.93) | 0.00 | 3.54 | 15.94 | |||
| 159681 | 1.31 | (0.03) | 0.00 | (0.06) | 0.00 | 3.23 | 8.38 | |||
| 159005 | 0.01 | 0.00 | (0.86) | 1.74 | 0.00 | 0.01 | 0.14 | |||
| 300729 | 1.92 | 0.02 | 0.01 | 0.10 | 2.60 | 3.90 | 9.54 | |||
| 002952 | 2.61 | (0.17) | 0.00 | (0.79) | 0.00 | 4.60 | 20.01 | |||
| 516220 | 0.77 | (0.05) | 0.00 | (0.18) | 0.00 | 1.59 | 4.87 | |||
| 002096 | 1.52 | (0.23) | 0.00 | (3.35) | 0.00 | 3.26 | 8.58 | |||
| 002999 | 2.04 | 0.08 | 0.03 | 0.30 | 2.75 | 4.05 | 16.27 | |||
| 300243 | 1.98 | (0.18) | 0.00 | (0.75) | 0.00 | 3.34 | 15.12 |
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| All Next | Launch Module |
Aerospace Hi-Tech Corporate Management
Elected by the shareholders, the Aerospace Hi-Tech's board of directors comprises two types of representatives: Aerospace Hi-Tech inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Aerospace. The board's role is to monitor Aerospace Hi-Tech's management team and ensure that shareholders' interests are well served. Aerospace Hi-Tech'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, Aerospace Hi-Tech's outside directors are responsible for providing unbiased perspectives on the board's policies.