Guangdong Tianhe Correlations

002999 Stock   6.07  0.39  6.04%   
The current 90-days correlation between Guangdong Tianhe Agr and Jiangxi Ganfeng Lithium is 0.54 (i.e., Very weak diversification). The correlation of Guangdong Tianhe 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.

Guangdong Tianhe Correlation With Market

Significant diversification

The correlation between Guangdong Tianhe Agricultural and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Tianhe Agricultural and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Guangdong Tianhe could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guangdong Tianhe 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 Guangdong Tianhe - 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 Guangdong Tianhe Agricultural to buy it.

Moving together with Guangdong Stock

  0.64600019 Baoshan Iron SteelPairCorr
  0.86600010 Inner Mongolia BaoTouPairCorr
  0.88002460 Jiangxi Ganfeng LithiumPairCorr
  0.7603260 Hoshine Silicon IndPairCorr
  0.77600160 Zhejiang JuhuaPairCorr
  0.8300729 Loctek Ergonomic TecPairCorr
  0.82600104 SAIC Motor CorpPairCorr
  0.92002998 Elite Color EnvironmentalPairCorr
  0.88300378 Digiwin SoftwarePairCorr
  0.67002371 NAURA TechnologyPairCorr
  0.78002516 Kuangda TechnologyPairCorr
  0.77603610 Keeson Technology CorpPairCorr
  0.67603259 WuXi AppTecPairCorr
  0.79600079 Humanwell HealthcarePairCorr
  0.69000785 Easyhome New RetailPairCorr
  0.89688185 Cansino BiologicsPairCorr
  0.84301359 Dongnan ElectronicsPairCorr
  0.91002044 Meinian OnehealthPairCorr
  0.87002382 Blue Sail MedicalPairCorr
  0.69000009 China Baoan GroupPairCorr
  0.76002168 Shenzhen HifuturePairCorr
  0.76000555 Digital China InformationPairCorr

Moving against Guangdong Stock

  0.67600547 Shandong Gold MiningPairCorr
  0.42601899 Zijin Mining GroupPairCorr

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   
600547601899
600160600019
002460600010
600160600010
600160603260
600160002460
  
High negative correlations   
600010600547
002460600547
600160600547
603260600547
002460601899
600010601899

Risk-Adjusted Indicators

There is a big difference between Guangdong Stock performing well and Guangdong Tianhe 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 Guangdong Tianhe'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601899  1.64  0.12  0.03 (0.40) 2.04 
 3.26 
 10.10 
600309  1.77  0.11  0.03 (0.57) 2.27 
 3.92 
 16.38 
600019  1.66  0.38  0.12 (1.83) 2.02 
 4.80 
 17.37 
600547  1.35 (0.13) 0.00  0.50  0.00 
 2.39 
 12.15 
002493  1.51  0.21  0.08 (18.30) 1.96 
 4.12 
 15.52 
600010  2.46  0.56  0.17 (0.74) 2.44 
 7.46 
 19.48 
002460  3.18  0.65  0.18 (3.42) 3.05 
 9.99 
 20.00 
603260  2.00  0.32  0.10 (0.84) 2.46 
 4.90 
 17.89 
600160  2.17  0.66  0.27  11.15  1.83 
 6.09 
 15.23 
000807  2.05  0.38  0.14  0.94  2.29 
 5.75 
 15.53 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guangdong Tianhe 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.

Did you try this?

Run Correlation Analysis Now

   

Correlation Analysis

Reduce portfolio risk simply by holding instruments which are not perfectly correlated
All  Next Launch Module

Guangdong Tianhe Corporate Management

Elected by the shareholders, the Guangdong Tianhe's board of directors comprises two types of representatives: Guangdong Tianhe inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Guangdong. The board's role is to monitor Guangdong Tianhe's management team and ensure that shareholders' interests are well served. Guangdong Tianhe'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, Guangdong Tianhe's outside directors are responsible for providing unbiased perspectives on the board's policies.
Zhigang XuDeputy ManagerProfile
Xuanbin LuoDeputy ManagerProfile
Junwei QiuDeputy ManagerProfile
Yongfeng LiuSecretary BoardProfile