China Petrochemical Correlations
| 1314 Stock | TWD 7.45 0.11 1.50% |
The current 90-days correlation between China Petrochemical and USI Corp is 0.56 (i.e., Very weak diversification). The correlation of China Petrochemical 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. If the correlation is 0, the equities are not correlated; they are entirely random.
China Petrochemical Correlation With Market
Average diversification
The correlation between China Petrochemical Developmen and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Petrochemical Developmen and DJI in the same portfolio, assuming nothing else is changed.
China |
The ability to find closely correlated positions to China Petrochemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace China Petrochemical 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 China Petrochemical - 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 China Petrochemical Development to buy it.
Moving together with China Stock
| 0.86 | 9962 | Yeou Yih Steel | PairCorr |
| 0.83 | 4174 | OBI Pharma | PairCorr |
| 0.86 | 1435 | Chung Fu Tex | PairCorr |
| 0.74 | 4157 | Taigen Biopharmaceutica | PairCorr |
| 0.89 | 1235 | Shin Tai Industry | PairCorr |
| 0.79 | 6461 | Intech Biopharm | PairCorr |
| 0.66 | 0051 | YuantaP shares Taiwan | PairCorr |
Moving against China Stock
| 0.63 | 6620 | Handa Pharmaceuticals | PairCorr |
| 0.53 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.47 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.33 | 0053 | YuantaP shares Taiwan | PairCorr |
Related Correlations Analysis
| 0.97 | 0.98 | 0.97 | 0.69 | 1304 | ||
| 0.97 | 0.97 | 0.92 | 0.65 | 1312 | ||
| 0.98 | 0.97 | 0.97 | 0.75 | 1310 | ||
| 0.97 | 0.92 | 0.97 | 0.74 | 2002 | ||
| 0.69 | 0.65 | 0.75 | 0.74 | 1718 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between China Stock performing well and China Petrochemical 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 China Petrochemical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 1304 | 1.72 | (0.34) | 0.00 | (0.56) | 0.00 | 3.57 | 15.12 | |||
| 1312 | 1.14 | (0.20) | 0.00 | (0.28) | 0.00 | 2.34 | 7.35 | |||
| 1310 | 1.10 | (0.35) | 0.00 | (0.76) | 0.00 | 2.41 | 7.87 | |||
| 2002 | 0.90 | (0.20) | 0.00 | (0.45) | 0.00 | 1.81 | 5.23 | |||
| 1718 | 0.81 | (0.09) | 0.00 | (0.59) | 0.00 | 1.78 | 5.85 |
China Petrochemical 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 China Petrochemical stock to make a market-neutral strategy. Peer analysis of China Petrochemical could also be used in its relative valuation, which is a method of valuing China Petrochemical by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
China Petrochemical Corporate Management
Elected by the shareholders, the China Petrochemical's board of directors comprises two types of representatives: China Petrochemical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of China. The board's role is to monitor China Petrochemical's management team and ensure that shareholders' interests are well served. China Petrochemical'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, China Petrochemical's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jian Yu | President | Profile | |
| YuLan Wang | Chief Officer | Profile | |
| ChingJing Sheen | Chief Consultant | Profile | |
| YingChun Chen | Assistant General Manager | Profile | |
| WeiHua Tu | Consultant | Profile | |
| HongLong Chen | Plant Chief | Profile |