Zhejiang Century Correlations

Stocks China . 
Stock . Zhejiang Century Huatong
002602 Stock   4.39  0.02  0.45%   
The current 90-days correlation between Zhejiang Century Huatong and PetroChina Co Ltd is -0.09 (i.e., Good diversification). The correlation of Zhejiang Century 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.

Zhejiang Century Correlation With Market

Good diversification

The correlation between Zhejiang Century Huatong and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Century Huatong and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Zhejiang Century could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zhejiang Century 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 Zhejiang Century - 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 Zhejiang Century Huatong to buy it.

Moving together with Zhejiang Stock

  0.83002594 BYD CoPairCorr
  0.77601668 China State ConstructionPairCorr
  0.79601390 China Railway GroupPairCorr
  0.9603986 GigaDevice SemiconductorBeiPairCorr
  0.91002205 XinJiang GuoTong PipelinePairCorr
  0.88002371 NAURA TechnologyPairCorr
  0.87603180 Xiamen GoldenhomePairCorr
  0.68605577 Heilongjiang PublishingPairCorr
  0.91000042 Shenzhen CentralconPairCorr
  0.92301370 GKHT Medical TechnologyPairCorr
  0.9300074 AVCON Information TechPairCorr
  0.87000839 CITIC Guoan InformationPairCorr
  0.91600429 Beijing Sanyuan FoodsPairCorr
  0.61002822 Shenzhen ZhongzhuangPairCorr
  0.92600030 CITIC SecuritiesPairCorr
  0.9688203 Zhejiang HISUN BiomaPairCorr
  0.82002429 Shenzhen MTCPairCorr
  0.9601615 Ming Yang SmartPairCorr
  0.89605499 Eastroc Beverage SplitPairCorr
  0.92600711 Chengtun Mining GroupPairCorr
  0.71601111 Air ChinaPairCorr
  0.92002869 Shenzhen Genvict TecPairCorr
  0.73300396 Dirui IndustrialPairCorr
  0.88688298 Zhejiang Orient GenePairCorr
  0.79002605 Shanghai Yaoji PlayingPairCorr
  0.78688010 Fujian Forecam OpticsPairCorr
  0.92603008 Xilinmen FurniturePairCorr
  0.91301236 iSoftStone InformationPairCorr
  0.92000555 Digital China InformationPairCorr
  0.68688036 Shenzhen TranssionPairCorr
  0.91900957 Shanghai Lingyun IndPairCorr
  0.9600399 Fushun Special SteelPairCorr
  0.83002995 Beijing Quanshi WorldPairCorr

Moving against Zhejiang Stock

  0.5600028 China Petroleum ChemicalPairCorr

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   
601318
+ 0.98
601628
601939
+ 0.96
601398
601398
+ 0.71
600941
601939
+ 0.68
600941
601398
+ 0.65
601857
601939
+ 0.62
601318
  
High negative correlations   
601628
- 0.14
601857
601318
- 0.03
601857

Risk-Adjusted Indicators

There is a big difference between Zhejiang Stock performing well and Zhejiang Century 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 Zhejiang Century'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zhejiang Century 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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Zhejiang Century Corporate Executives

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