XinJiang GuoTong Correlations
| 002205 Stock | 8.68 0.23 2.58% |
The current 90-days correlation between XinJiang GuoTong Pipeline and PetroChina Co Ltd is 0.34 (i.e., Weak diversification). The correlation of XinJiang GuoTong 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.
XinJiang GuoTong Correlation With Market
Good diversification
The correlation between XinJiang GuoTong Pipeline and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XinJiang GuoTong Pipeline and DJI in the same portfolio, assuming nothing else is changed.
XinJiang |
The ability to find closely correlated positions to XinJiang GuoTong could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace XinJiang GuoTong 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 XinJiang GuoTong - 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 XinJiang GuoTong Pipeline to buy it.
Moving together with XinJiang Stock
| 0.93 | 601628 | China Life Insurance | PairCorr |
| 0.86 | 601059 | Cinda Securities | PairCorr |
| 0.89 | 688072 | Piotech Inc A | PairCorr |
| 0.93 | 601198 | Dongxing Sec | PairCorr |
| 0.92 | 688293 | Shanghai OPM Biosciences | PairCorr |
| 0.9 | 688126 | National Silicon Industry | PairCorr |
| 0.91 | 000504 | Nanhua Bio Medicine | PairCorr |
| 0.92 | 688521 | VeriSilicon Microelectronics | PairCorr |
| 0.92 | 688012 | Advanced Micro Fabri | PairCorr |
| 0.95 | 300339 | Jiangsu Hoperun Software | PairCorr |
| 0.85 | 000001 | Ping An Bank | PairCorr |
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between XinJiang Stock performing well and XinJiang GuoTong 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 XinJiang GuoTong'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 | 1.45 | (0.09) | 0.00 | 0.29 | 0.00 | 3.43 | 17.17 | |||
| 601668 | 2.13 | 0.20 | (0.01) | (0.14) | 2.50 | 5.25 | 15.78 | |||
| 600941 | 1.00 | 0.03 | (0.09) | (0.04) | 1.20 | 2.05 | 8.38 | |||
| 601398 | 1.27 | 0.06 | (0.07) | (0.02) | 1.58 | 2.83 | 8.14 | |||
| 601628 | 2.02 | 0.59 | 0.14 | (0.58) | 2.29 | 6.42 | 20.00 | |||
| 601318 | 1.84 | 0.53 | 0.12 | (0.37) | 1.84 | 5.83 | 19.77 | |||
| 601939 | 1.32 | 0.07 | (0.05) | (0.07) | 1.76 | 3.32 | 8.64 |
Be your own money manager
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XinJiang GuoTong Corporate Management
Elected by the shareholders, the XinJiang GuoTong's board of directors comprises two types of representatives: XinJiang GuoTong inside directors who are chosen from within the company, and outside directors, selected externally and held independent of XinJiang. The board's role is to monitor XinJiang GuoTong's management team and ensure that shareholders' interests are well served. XinJiang GuoTong'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, XinJiang GuoTong's outside directors are responsible for providing unbiased perspectives on the board's policies.