Bosera CMSK Correlations

180101 Stock

2.17 0.05 2.36%

The current 90-days correlation between Bosera CMSK Industrial and PetroChina Co Ltd is -0.1 (i.e., Good diversification). The correlation of Bosera CMSK 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.

Bosera CMSK Correlation With Market

Good diversification

The correlation between Bosera CMSK Industrial and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bosera CMSK Industrial and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Bosera CMSK could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bosera CMSK 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 Bosera CMSK - 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 Bosera CMSK Industrial to buy it.

Moving together with Bosera Stock

0.71	601857	PetroChina	Pair Corr
0.68	601728	China Telecom Corp	Pair Corr

Moving against Bosera Stock

0.75	601668	China State Construction	Pair Corr
0.74	601318	Ping An Insurance	Pair Corr
0.71	600519	Kweichow Moutai	Pair Corr
0.7	601628	China Life Insurance	Pair Corr
0.31	002124	Ningbo Tech Bank	Pair Corr

Related Correlations Analysis

	601857	600941	600938	601318	600028	601728	601668	600519	601088	601628
601857		0.77	0.94	-0.52	0.7	0.79	-0.34	-0.46	0.43	-0.49	601857
600941	0.77		0.71	-0.63	0.7	0.9	-0.42	-0.43	0.59	-0.52	600941
600938	0.94	0.71		-0.38	0.76	0.66	-0.17	-0.39	0.44	-0.44	600938
601318	-0.52	-0.63	-0.38		-0.15	-0.63	0.84	0.82	-0.04	0.85	601318
600028	0.7	0.7	0.76	-0.15		0.55	0.18	-0.09	0.69	-0.12	600028
601728	0.79	0.9	0.66	-0.63	0.55		-0.48	-0.43	0.48	-0.47	601728
601668	-0.34	-0.42	-0.17	0.84	0.18	-0.48		0.8	0.18	0.84	601668
600519	-0.46	-0.43	-0.39	0.82	-0.09	-0.43	0.8		0.05	0.93	600519
601088	0.43	0.59	0.44	-0.04	0.69	0.48	0.18	0.05		0.01	601088
601628	-0.49	-0.52	-0.44	0.85	-0.12	-0.47	0.84	0.93	0.01		601628
	601857	600941	600938	601318	600028	601728	601668	600519	601088	601628

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

600938	+ 0.94	601857
601628	+ 0.93	600519
601728	+ 0.9	600941
601628	+ 0.85	601318
601668	+ 0.84	601318
601628	+ 0.84	601668

High negative correlations

601728	- 0.63	601318
601318	- 0.63	600941
601628	- 0.52	600941
601318	- 0.52	601857
601628	- 0.49	601857
601668	- 0.48	601728

Risk-Adjusted Indicators

There is a big difference between Bosera Stock performing well and Bosera CMSK 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 Bosera CMSK'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
601857	1.04	0.02	0.03	(0.18)	1.17	(1.30)	2.47	(2.01)	6.74
600941	0.94	(0.03)	0.00	(0.24)	0.00	0.00	2.20	(2.15)	6.82
600938	1.09	(0.03)	0.00	0.28	0.00	0.00	2.36	(1.87)	5.97
601318	1.13	(0.25)	0.00	3.92	0.00	0.00	2.19	(2.88)	10.26
600028	0.92	(0.13)	0.00	(1.57)	0.00	0.00	1.62	(1.87)	5.09
601728	1.10	0.09	0.07	0.67	1.25	(1.19)	2.13	(2.09)	8.61
601668	1.24	(0.19)	0.00	(1.25)	0.00	0.00	3.50	(3.00)	8.81
600519	0.98	(0.13)	0.00	1.21	0.00	0.00	1.98	(2.38)	7.96
601088	1.25	(0.12)	0.00	0.90	0.00	0.00	2.57	(2.05)	7.85
601628	1.63	(0.19)	0.00	(2.37)	0.00	0.00	2.97	(3.94)	15.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bosera CMSK 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 CEOs Directory Now

CEOs Directory

Screen CEOs from public companies around the world

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC