Meinian Onehealth Correlations

002044 Stock

4.90 0.02 0.41%

The current 90-days correlation between Meinian Onehealth and Jiangsu Pacific Quartz is 0.49 (i.e., Very weak diversification). The correlation of Meinian Onehealth 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.

Meinian Onehealth Correlation With Market

Good diversification

The correlation between Meinian Onehealth Healthcare and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meinian Onehealth Healthcare and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Meinian Stock

0.74	600036	China Merchants Bank	Pair Corr
0.65	600000	Shanghai Pudong Deve	Pair Corr
0.75	000001	Ping An Bank	Pair Corr

Related Correlations Analysis

	600519	300760	603688	603444	688036	688169	000568	000719	300750	000858
600519		0.92	0.89	0.72	0.85	0.36	0.96	0.7	0.84	0.95	600519
300760	0.92		0.94	0.77	0.86	0.43	0.94	0.72	0.9	0.94	300760
603688	0.89	0.94		0.69	0.81	0.34	0.95	0.63	0.95	0.96	603688
603444	0.72	0.77	0.69		0.81	0.74	0.66	0.89	0.69	0.7	603444
688036	0.85	0.86	0.81	0.81		0.52	0.84	0.67	0.8	0.85	688036
688169	0.36	0.43	0.34	0.74	0.52		0.27	0.7	0.31	0.31	688169
000568	0.96	0.94	0.95	0.66	0.84	0.27		0.62	0.93	0.98	000568
000719	0.7	0.72	0.63	0.89	0.67	0.7	0.62		0.66	0.66	000719
300750	0.84	0.9	0.95	0.69	0.8	0.31	0.93	0.66		0.95	300750
000858	0.95	0.94	0.96	0.7	0.85	0.31	0.98	0.66	0.95		000858
	600519	300760	603688	603444	688036	688169	000568	000719	300750	000858

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Risk-Adjusted Indicators

There is a big difference between Meinian Stock performing well and Meinian Onehealth 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 Meinian Onehealth'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
600519	1.69	0.18	0.00	(0.24)	1.87	(2.04)	6.55	(2.98)	16.71
300760	2.28	0.20	0.02	(0.43)	2.61	(2.60)	9.90	(4.56)	19.76
603688	2.97	0.35	0.06	(0.76)	2.98	(3.45)	8.33	(4.74)	19.04
603444	2.72	0.18	0.03	0.90	3.08	(3.21)	5.21	(4.79)	18.75
688036	2.99	0.32	0.02	(0.22)	3.53	(3.61)	6.00	(4.99)	31.26
688169	3.25	0.35	0.01	(0.12)	4.23	(3.54)	6.51	(5.72)	34.80
000568	2.47	0.34	0.06	(0.61)	2.66	(3.10)	10.00	(4.82)	20.00
000719	1.82	0.19	0.01	(0.27)	2.37	(2.01)	3.75	(3.71)	16.97
300750	2.70	0.77	0.16	(0.76)	3.07	(3.34)	7.94	(3.41)	33.42
000858	2.29	0.35	0.07	(0.67)	2.28	(2.89)	7.27	(3.56)	19.98

Be your own money manager

Our tools can tell you how much better you can do entering a position in Meinian Onehealth 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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Meinian Onehealth Corporate Management

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

Xiaoxiao Wan	VP Secretary	Profile
Sheng Zhang	VP	Profile
Sheng Han	Senior Branch	Profile
Lin Li	Tianjin Shanghai	Profile

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