Hunan TV Correlations

000917 Stock

7.19 0.27 3.62%

The current 90-days correlation between Hunan TV Broadcast and PetroChina Co Ltd is -0.17 (i.e., Good diversification). The correlation of Hunan TV 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.

Hunan TV Correlation With Market

Good diversification

The correlation between Hunan TV Broadcast and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hunan TV Broadcast and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Hunan Stock

0.7

300866

Anker Innovations

Pair Corr

Related Correlations Analysis

	601857	601398	600028	601939	601288	601988	600938	601658	601318	600941
601857		0.86	0.54	0.83	0.85	0.86	0.97	0.49	-0.55	0.75	601857
601398	0.86		0.42	0.96	0.97	0.98	0.87	0.58	-0.68	0.91	601398
600028	0.54	0.42		0.57	0.55	0.41	0.45	0.78	0.05	0.6	600028
601939	0.83	0.96	0.57		0.98	0.91	0.84	0.73	-0.51	0.93	601939
601288	0.85	0.97	0.55	0.98		0.96	0.85	0.72	-0.59	0.93	601288
601988	0.86	0.98	0.41	0.91	0.96		0.87	0.54	-0.77	0.89	601988
600938	0.97	0.87	0.45	0.84	0.85	0.87		0.47	-0.6	0.77	600938
601658	0.49	0.58	0.78	0.73	0.72	0.54	0.47		-0.01	0.66	601658
601318	-0.55	-0.68	0.05	-0.51	-0.59	-0.77	-0.6	-0.01		-0.6	601318
600941	0.75	0.91	0.6	0.93	0.93	0.89	0.77	0.66	-0.6		600941
	601857	601398	600028	601939	601288	601988	600938	601658	601318	600941

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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

601988	+ 0.98	601398
601288	+ 0.98	601939
600938	+ 0.97	601857
601288	+ 0.97	601398
601939	+ 0.96	601398
601988	+ 0.96	601288

High negative correlations

601318	- 0.77	601988
601318	- 0.68	601398
600941	- 0.6	601318
601318	- 0.6	600938
601318	- 0.59	601288
601318	- 0.55	601857

Risk-Adjusted Indicators

There is a big difference between Hunan Stock performing well and Hunan TV 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 Hunan TV'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
601857	1.09	0.01	0.00	0.06	0.00	0.00	2.47	(2.03)	7.14
601398	0.95	0.18	0.07	(0.72)	0.90	(1.18)	2.31	(1.52)	6.36
600028	0.89	(0.09)	0.00	1.27	0.00	0.00	1.62	(1.80)	5.09
601939	0.95	0.10	(0.01)	(0.26)	0.99	(1.13)	1.86	(1.89)	4.13
601288	0.91	0.12	0.01	(0.43)	1.25	(0.94)	2.20	(1.58)	7.85
601988	0.90	0.18	0.06	(0.60)	0.93	(1.09)	1.90	(1.83)	5.62
600938	1.15	(0.02)	0.00	(0.67)	0.00	0.00	2.42	(2.13)	6.27
601658	1.05	0.00	0.00	0.09	0.00	0.00	2.05	(2.15)	8.59
601318	1.14	(0.17)	0.00	0.84	0.00	0.00	2.68	(2.88)	10.26
600941	0.90	0.13	0.04	(3.56)	0.87	(1.05)	2.20	(1.64)	6.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hunan TV 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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Hunan TV Corporate Executives

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

Weigang Fu

Deputy CFO

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