Guangzhou Tinci Correlations
| 002709 Stock | 18.28 0.34 1.83% |
The current 90-days correlation between Guangzhou Tinci Materials and Inner Mongolia BaoTou is 0.07 (i.e., Significant diversification). The correlation of Guangzhou Tinci 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.
Guangzhou Tinci Correlation With Market
Average diversification
The correlation between Guangzhou Tinci Materials and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou Tinci Materials and DJI in the same portfolio, assuming nothing else is changed.
Guangzhou |
The ability to find closely correlated positions to Guangzhou Tinci could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guangzhou Tinci 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 Guangzhou Tinci - 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 Guangzhou Tinci Materials to buy it.
Moving together with Guangzhou Stock
| 0.71 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.66 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.91 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.63 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.64 | 601668 | China State Construction | PairCorr |
| 0.66 | 600048 | Poly Real Estate | PairCorr |
| 0.68 | 001979 | China Merchants Shekou | PairCorr |
| 0.74 | 601995 | China International | PairCorr |
| 0.62 | 600519 | Kweichow Moutai | PairCorr |
| 0.61 | 600340 | China Fortune Land | PairCorr |
Moving against Guangzhou Stock
| 0.81 | 300866 | Anker Innovations | PairCorr |
| 0.79 | 600160 | Zhejiang Juhua | PairCorr |
| 0.69 | 000807 | Yunnan Aluminium | PairCorr |
| 0.33 | 601899 | Zijin Mining Group | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Guangzhou Stock performing well and Guangzhou Tinci 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 Guangzhou Tinci'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601899 | 1.33 | (0.09) | 0.00 | (1.29) | 0.00 | 2.57 | 7.31 | |||
| 600309 | 1.20 | (0.19) | 0.00 | 5.60 | 0.00 | 2.16 | 6.17 | |||
| 600019 | 1.29 | 0.10 | 0.00 | 4.73 | 1.49 | 3.10 | 7.96 | |||
| 600547 | 1.08 | (0.11) | 0.00 | 0.41 | 0.00 | 2.30 | 6.52 | |||
| 002493 | 1.08 | (0.13) | 0.00 | (1.45) | 0.00 | 2.35 | 6.90 | |||
| 600010 | 1.66 | (0.02) | 0.00 | 0.24 | 0.00 | 3.45 | 15.15 | |||
| 002460 | 2.34 | (0.05) | 0.00 | (0.22) | 0.00 | 5.93 | 16.45 | |||
| 600160 | 1.67 | 0.28 | 0.09 | (1.54) | 1.87 | 4.60 | 10.31 | |||
| 603260 | 1.15 | (0.35) | 0.00 | (2.23) | 0.00 | 2.38 | 6.54 | |||
| 000807 | 1.65 | 0.12 | 0.03 | 0.33 | 2.16 | 5.25 | 11.84 |
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Guangzhou Tinci Corporate Management
Elected by the shareholders, the Guangzhou Tinci's board of directors comprises two types of representatives: Guangzhou Tinci inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Guangzhou. The board's role is to monitor Guangzhou Tinci's management team and ensure that shareholders' interests are well served. Guangzhou Tinci'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, Guangzhou Tinci's outside directors are responsible for providing unbiased perspectives on the board's policies.