Castech Correlations
| 002222 Stock | 71.11 2.06 2.82% |
The current 90-days correlation between Castech and ShenZhen YUTO Packaging is -0.31 (i.e., Very good diversification). The correlation of Castech 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.
Castech Correlation With Market
Very poor diversification
The correlation between Castech and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Castech and DJI in the same portfolio, assuming nothing else is changed.
Castech |
The ability to find closely correlated positions to Castech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Castech 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 Castech - 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 Castech to buy it.
Moving together with Castech Stock
| 0.65 | 002919 | Mingchen Health | PairCorr |
| 0.77 | 002865 | Hainan Drinda Automotive | PairCorr |
| 0.87 | 688498 | Yuanjie Semiconductor | PairCorr |
| 0.79 | 300507 | Jiangsu Olive Sensors | PairCorr |
| 0.63 | 300624 | Wondershare Technology | PairCorr |
| 0.85 | 002938 | Avary Holding Shenzhen | PairCorr |
| 0.73 | 300707 | VT Industrial Technology | PairCorr |
| 0.69 | 000417 | Hefei Department Store | PairCorr |
| 0.68 | 301033 | Medprin Regenerative | PairCorr |
| 0.67 | 600637 | Shanghai Oriental Pearl | PairCorr |
| 0.77 | 600686 | Xiamen King Long | PairCorr |
| 0.66 | 002328 | Shanghai Xinpeng Industry | PairCorr |
| 0.67 | 600583 | Offshore Oil Engineering | PairCorr |
| 0.7 | 301215 | CATARC Automotive Proving | PairCorr |
| 0.66 | 000786 | Beijing New Building | PairCorr |
| 0.73 | 301095 | Semitronix Corp A | PairCorr |
| 0.64 | 601002 | Gem Year Industrial | PairCorr |
| 0.75 | 001215 | Zhengzhou Qianweiyangchu | PairCorr |
| 0.65 | 603713 | Milkyway Chemical Supply | PairCorr |
| 0.62 | 600710 | Sumec Corp | PairCorr |
| 0.68 | 300347 | Hangzhou Tigermed | PairCorr |
| 0.68 | 688048 | Suzhou Everbright | PairCorr |
| 0.69 | 603699 | Neway Valve suzhou | PairCorr |
| 0.66 | 600633 | Zhejiang Daily Media | PairCorr |
| 0.67 | 603556 | Hexing Electrical | PairCorr |
| 0.83 | 002516 | Kuangda Technology | PairCorr |
Related Correlations Analysis
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 Castech Stock performing well and Castech 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 Castech'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 002222 | 3.08 | 0.91 | 0.25 | (2.20) | 2.58 | 7.28 | 16.48 | |||
| 002637 | 1.94 | 0.33 | 0.09 | 5.11 | 2.17 | 4.94 | 18.54 | |||
| 688155 | 2.86 | 0.62 | 0.19 | 1.19 | 2.45 | 7.78 | 19.09 | |||
| 002831 | 1.51 | 0.14 | 0.02 | 1.36 | 1.63 | 3.12 | 11.15 | |||
| 600612 | 0.91 | (0.02) | 0.00 | 0.20 | 0.00 | 1.53 | 16.26 | |||
| 688252 | 1.50 | 0.12 | 0.00 | (0.80) | 2.13 | 3.19 | 12.87 | |||
| 002734 | 1.89 | 0.12 | 0.02 | 0.45 | 2.65 | 4.41 | 14.96 | |||
| 605300 | 1.04 | (0.15) | 0.00 | 2.28 | 0.00 | 1.96 | 6.25 | |||
| 300131 | 2.86 | 0.68 | 0.17 | (1.54) | 2.59 | 10.79 | 29.65 |
Castech Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Castech stock to make a market-neutral strategy. Peer analysis of Castech could also be used in its relative valuation, which is a method of valuing Castech by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Castech Corporate Management
Elected by the shareholders, the Castech's board of directors comprises two types of representatives: Castech inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Castech. The board's role is to monitor Castech's management team and ensure that shareholders' interests are well served. Castech'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, Castech's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Qiuhua Chen | Vice GM | Profile | |
| Quan Zhong | Accounting Supervisor | Profile | |
| Hongping Liao | Deputy Manager | Profile | |
| Hanfeng Xue | Secretary Affairs | Profile |