Zhejiang Satellite Correlations

002648 Stock   20.63  0.50  2.37%   
The current 90-days correlation between Zhejiang Satellite and Eastroc Beverage Group is 0.02 (i.e., Significant diversification). The correlation of Zhejiang Satellite 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 Satellite Correlation With Market

Modest diversification

The correlation between Zhejiang Satellite Petrochemic and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Satellite Petrochemic and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Zhejiang Satellite 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 Satellite 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 Satellite - 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 Satellite Petrochemical to buy it.

Moving together with Zhejiang Stock

  0.74601899 Zijin Mining GroupPairCorr
  0.67600160 Zhejiang JuhuaPairCorr
  0.85000807 Yunnan AluminiumPairCorr
  0.68688159 Shenzhen Neoway TechPairCorr
  0.65603259 WuXi AppTecPairCorr
  0.63300001 Qingdao TGOOD ElectricPairCorr

Moving against Zhejiang Stock

  0.77002306 Cloud Live TechnologyPairCorr
  0.76002168 Shenzhen HifuturePairCorr
  0.75300391 Kangyue TechnologyPairCorr
  0.67600010 Inner Mongolia BaoTouPairCorr
  0.66600309 Wanhua Chemical GroupPairCorr
  0.65603260 Hoshine Silicon IndPairCorr
  0.59002493 Rongsheng PetrochemicalPairCorr
  0.57002460 Jiangxi Ganfeng LithiumPairCorr
  0.52600322 Tianjin Realty DevelPairCorr
  0.37603268 Guangdong Songfa CeramicsPairCorr
  0.37601698 China Satellite CommPairCorr

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   
601818601288
600132601318
601318300343
002124300343
601318002124
601288508019
  
High negative correlations   
002124601288
600132508019
601318508019
002124508019
605499300343
508019300343

Risk-Adjusted Indicators

There is a big difference between Zhejiang Stock performing well and Zhejiang Satellite 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 Satellite'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 Satellite 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 Satellite Corporate Management

Elected by the shareholders, the Zhejiang Satellite's board of directors comprises two types of representatives: Zhejiang Satellite 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 Satellite's management team and ensure that shareholders' interests are well served. Zhejiang Satellite'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 Satellite's outside directors are responsible for providing unbiased perspectives on the board's policies.
Feng JinDeputy MangProfile
Xiao ZhuVP DirectorProfile
Xiao ChenVP DirectorsProfile
Yun ChenChief AccountantProfile
Yong CaiDeputy MangProfile
Li JunFinancial ManagerProfile