Guizhou Chanhen Correlations

002895 Stock   22.40  1.61  7.74%   
The current 90-days correlation between Guizhou Chanhen Chemical and Zijin Mining Group is 0.35 (i.e., Weak diversification). The correlation of Guizhou Chanhen 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.

Guizhou Chanhen Correlation With Market

Good diversification

The correlation between Guizhou Chanhen Chemical and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guizhou Chanhen Chemical and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Guizhou Chanhen could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guizhou Chanhen 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 Guizhou Chanhen - 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 Guizhou Chanhen Chemical to buy it.

Moving together with Guizhou Stock

  0.69600309 Wanhua Chemical GroupPairCorr
  0.85600019 Baoshan Iron SteelPairCorr
  0.84002493 Rongsheng PetrochemicalPairCorr
  0.83600010 Inner Mongolia BaoTouPairCorr
  0.82002460 Jiangxi Ganfeng LithiumPairCorr
  0.92603260 Hoshine Silicon IndPairCorr
  0.85600160 Zhejiang JuhuaPairCorr
  0.92000807 Yunnan AluminiumPairCorr
  0.87000678 Xiangyang AutomobilePairCorr

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   
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000807603260
603260002460
603260600010
000807600010
  
High negative correlations   
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600010600547
000807600547
600547600019

Risk-Adjusted Indicators

There is a big difference between Guizhou Stock performing well and Guizhou Chanhen 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 Guizhou Chanhen'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 Guizhou Chanhen 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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Guizhou Chanhen Corporate Management

Elected by the shareholders, the Guizhou Chanhen's board of directors comprises two types of representatives: Guizhou Chanhen inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Guizhou. The board's role is to monitor Guizhou Chanhen's management team and ensure that shareholders' interests are well served. Guizhou Chanhen'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, Guizhou Chanhen's outside directors are responsible for providing unbiased perspectives on the board's policies.
Yonghui HeChief OfficerProfile
Li JianDeputy BoardProfile
Yang JinDeputy MangProfile
Haibo ZhangVice GMProfile
Mao WeiDeputy MangProfile