Huadong Medicine Correlations

000963 Stock   36.05  0.54  1.52%   
The current 90-days correlation between Huadong Medicine and Industrial and Commercial is -0.28 (i.e., Very good diversification). The correlation of Huadong Medicine 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.

Huadong Medicine Correlation With Market

Good diversification

The correlation between Huadong Medicine Co and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Huadong Medicine Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Huadong Medicine could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Huadong Medicine 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 Huadong Medicine - 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 Huadong Medicine Co to buy it.

Moving together with Huadong Stock

  0.64601668 China State ConstructionPairCorr
  0.77601390 China Railway GroupPairCorr
  0.83601186 China Railway ConstrPairCorr
  0.61601398 Industrial and CommercialPairCorr
  0.67601628 China Life InsurancePairCorr
  0.65601939 China Construction BankPairCorr
  0.9603416 WuXi Xinje ElectricPairCorr
  0.88603517 Juewei FoodPairCorr
  0.65600036 China Merchants BankPairCorr
  0.69300034 Beijing Cisri GaonaPairCorr
  0.85002975 Zhuhai Bojay ElectronicsPairCorr
  0.88300825 Iat Automobile TechnologyPairCorr
  0.82002893 Beijing HuaYuanYiTongPairCorr
  0.73000973 FSPG Hi TechPairCorr
  0.92688021 Aofu EnvironmentalPairCorr
  0.88002517 Kingnet NetworkPairCorr
  0.77600769 Wuhan Xianglong PowerPairCorr
  0.87601789 Ningbo ConstructionPairCorr
  0.87002584 Xilong ChemicalPairCorr
  0.76002920 Huizhou Desay SVPairCorr
  0.81600100 TsinghuatongfangPairCorr
  0.92300219 Guangzhou Hongli OptoPairCorr
  0.8002797 First Capital SecuritiesPairCorr
  0.86002466 Sichuan Tianqi LithiumPairCorr
  0.76300314 Ningbo David MedicalPairCorr
  0.89002008 HanS Laser TechPairCorr
  0.76002049 Unigroup Guoxin MicrPairCorr
  0.76605377 Hangzhou Huawang NewPairCorr
  0.89600076 Kangxin New MaterialsPairCorr
  0.74688396 China Resources MicrPairCorr
  0.8688739 Liaoning Chengda BioPairCorr
  0.93002382 Blue Sail MedicalPairCorr
  0.82600455 ButOne Information CorpPairCorr
  0.8000420 Jilin Chemical FibrePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Huadong Stock performing well and Huadong Medicine 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 Huadong Medicine'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601398  1.14  0.30  0.21  2.87  1.01 
 2.83 
 8.14 
600519  1.65  0.26  0.12  0.91  1.66 
 6.55 
 16.71 
601288  1.06  0.25  0.14  1.64  1.12 
 2.98 
 7.78 
600941  1.07  0.21  0.16 (79.70) 0.94 
 3.09 
 8.38 
601939  1.14  0.31  0.18  1.75  1.15 
 3.32 
 8.64 
601857  1.32  0.21  0.08  7.11  1.80 
 3.55 
 17.17 
601988  1.02  0.25  0.18  1.43  0.93 
 2.67 
 7.70 
300750  2.73  0.66  0.18 (3.18) 3.00 
 7.94 
 33.42 
601628  2.16  0.36  0.11  0.88  2.50 
 6.42 
 20.00 
600036  1.59  0.39  0.17 (6.71) 1.72 
 4.65 
 13.83 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Huadong Medicine 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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Huadong Medicine Corporate Executives

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