CGN Power Correlations
| 003816 Stock | 3.93 0.03 0.77% |
The current 90-days correlation between CGN Power and China Molybdenum Co is 0.49 (i.e., Very weak diversification). The correlation of CGN Power 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.
CGN Power Correlation With Market
Good diversification
The correlation between CGN Power and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CGN Power and DJI in the same portfolio, assuming nothing else is changed.
CGN |
The ability to find closely correlated positions to CGN Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CGN Power 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 CGN Power - 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 CGN Power to buy it.
Moving against CGN Stock
| 0.52 | 300750 | Contemporary Amperex | PairCorr |
| 0.52 | 300339 | Jiangsu Hoperun Software | PairCorr |
| 0.51 | 002446 | Guangdong Shenglu | PairCorr |
| 0.5 | 000553 | ADAMA | PairCorr |
| 0.46 | 600229 | Qingdao Citymedia | PairCorr |
| 0.45 | 000661 | Changchun High New | PairCorr |
| 0.43 | 002371 | NAURA Technology | PairCorr |
| 0.42 | 002476 | Shandong Polymer Bio | PairCorr |
| 0.42 | 688298 | Zhejiang Orient Gene | PairCorr |
| 0.39 | 603444 | G bits Network | PairCorr |
| 0.39 | 000625 | Chongqing Changan | PairCorr |
| 0.38 | 688235 | BeiGene | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between CGN Stock performing well and CGN Power 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 CGN Power'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601628 | 2.03 | 0.59 | 0.14 | (0.58) | 2.29 | 6.42 | 20.00 | |||
| 601059 | 2.49 | 0.27 | 0.03 | (0.44) | 2.99 | 7.43 | 20.10 | |||
| 688072 | 3.65 | 0.74 | 0.16 | 3.78 | 3.53 | 11.70 | 30.46 | |||
| 601198 | 2.66 | 0.60 | 0.11 | (0.60) | 2.88 | 9.99 | 20.42 | |||
| 688293 | 3.51 | 0.81 | 0.15 | (1.68) | 3.61 | 11.13 | 29.27 | |||
| 688126 | 3.47 | 0.68 | 0.15 | (2.78) | 3.00 | 14.22 | 29.35 | |||
| 603993 | 1.85 | (0.01) | 0.00 | 0.25 | 0.00 | 4.34 | 14.34 | |||
| 000504 | 3.38 | 0.78 | 0.18 | (2.11) | 3.11 | 9.82 | 19.13 | |||
| 688521 | 3.99 | 1.02 | 0.23 | 217.83 | 3.21 | 13.33 | 30.42 | |||
| 300396 | 2.82 | 0.04 | (0.02) | (0.15) | 4.20 | 5.05 | 32.32 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in CGN Power 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?
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Analyst AdviceAnalyst recommendations and target price estimates broken down by several categories |
| All Next | Launch Module |
CGN Power Corporate Executives
Elected by the shareholders, the CGN Power's board of directors comprises two types of representatives: CGN Power inside directors who are chosen from within the company, and outside directors, selected externally and held independent of CGN. The board's role is to monitor CGN Power's management team and ensure that shareholders' interests are well served. CGN Power'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, CGN Power's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Engang Yin | CFO, Controller | Profile |