Dongjiang Environmental Correlations

002672 Stock

3.87 0.03 0.78%

The current 90-days correlation between Dongjiang Environmental and Central Plains Environment is 0.76 (i.e., Poor diversification). The correlation of Dongjiang Environmental 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.

Dongjiang Environmental Correlation With Market

Good diversification

The correlation between Dongjiang Environmental Co and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dongjiang Environmental Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Dongjiang Stock

0.69	601288	Agricultural Bank	Pair Corr
0.66	600941	China Mobile Limited	Pair Corr
0.64	601857	PetroChina	Pair Corr
0.54	601988	Bank of China	Pair Corr
0.48	601398	Industrial and Commercial	Pair Corr
0.48	300866	Anker Innovations	Pair Corr
0.4	601939	China Construction Bank	Pair Corr

Related Correlations Analysis

	000544	603797	300867	688466	300266	600874	003027	600496	002573
000544		0.59	0.85	0.43	0.8	0.84	0.17	0.69	0.84	000544
603797	0.59		0.76	0.83	0.85	0.78	0.8	0.82	0.78	603797
300867	0.85	0.76		0.7	0.81	0.9	0.47	0.78	0.96	300867
688466	0.43	0.83	0.7		0.64	0.6	0.84	0.6	0.67	688466
300266	0.8	0.85	0.81	0.64		0.81	0.5	0.8	0.83	300266
600874	0.84	0.78	0.9	0.6	0.81		0.44	0.9	0.94	600874
003027	0.17	0.8	0.47	0.84	0.5	0.44		0.5	0.46	003027
600496	0.69	0.82	0.78	0.6	0.8	0.9	0.5		0.85	600496
002573	0.84	0.78	0.96	0.67	0.83	0.94	0.46	0.85		002573
	000544	603797	300867	688466	300266	600874	003027	600496	002573

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Risk-Adjusted Indicators

There is a big difference between Dongjiang Stock performing well and Dongjiang Environmental 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 Dongjiang Environmental'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
000544	1.15	(0.02)	(0.05)	(0.05)	1.54	(1.16)	2.16	(2.76)	9.03
603797	1.60	0.08	0.01	0.51	2.12	(1.65)	3.42	(2.79)	12.22
300867	1.35	(0.12)	0.00	(3.22)	0.00	0.00	2.77	(3.22)	9.53
688466	2.04	0.04	0.00	0.14	2.36	(2.41)	4.17	(4.36)	26.28
300266	3.82	0.04	0.01	0.10	4.20	(4.48)	7.43	(6.91)	29.90
600874	1.14	(0.02)	0.00	(0.26)	0.00	0.00	2.02	(2.10)	8.44
003027	2.47	0.15	0.02	(1.36)	2.99	(2.87)	9.98	(4.66)	20.01
600496	1.31	0.04	(0.02)	0.56	1.43	(1.50)	2.57	(2.58)	7.36
002573	1.46	(0.16)	0.00	(1.69)	0.00	0.00	2.64	(3.10)	6.95

Dongjiang Environmental 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 Dongjiang Environmental stock to make a market-neutral strategy. Peer analysis of Dongjiang Environmental could also be used in its relative valuation, which is a method of valuing Dongjiang Environmental by comparing valuation metrics with similar companies.

Central Plains Environment Guangdong Liantai Environmental Shengyuan Environmental Protection GreenTech Environmental Co Xingyuan Environment Technology Tianjin Capital Environmental Tongxing Environmental Protection Changjiang Jinggong Steel Beijing SPC Environment American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Dongjiang Environmental Corporate Management

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

Zehua Li	Board Counsel	Profile
Xiangli Li	Chief Officer	Profile
Qi Wu	Company Secretary	Profile
Ming Mok	Company Sec	Profile

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