Penghua Shenzhen Correlations

180401 Stock

6.01 0.01 0.17%

The current 90-days correlation between Penghua Shenzhen Energy and Industrial and Commercial is -0.05 (i.e., Good diversification). The correlation of Penghua Shenzhen 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.

Penghua Shenzhen Correlation With Market

Good diversification

The correlation between Penghua Shenzhen Energy and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Penghua Shenzhen Energy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Penghua Stock

0.86	601628	China Life Insurance	Pair Corr
0.73	002188	Bus Online	Pair Corr
0.63	600036	China Merchants Bank	Pair Corr
0.58	000980	Zotye Automobile	Pair Corr
0.5	600519	Kweichow Moutai	Pair Corr
0.5	601939	China Construction Bank	Pair Corr
0.46	600715	Cultural Investment	Pair Corr
0.4	600898	Gome Telecom Equipment	Pair Corr
0.38	601398	Industrial and Commercial	Pair Corr
0.34	300750	Contemporary Amperex	Pair Corr

Related Correlations Analysis

	601398	600519	601288	600941	601857	601939	601988	300750	601628	600036
601398		0.69	0.82	0.68	0.6	0.97	0.79	0.6	0.46	0.81	601398
600519	0.69		0.55	0.55	0.42	0.74	0.64	0.85	0.67	0.87	600519
601288	0.82	0.55		0.67	0.39	0.82	0.89	0.52	0.27	0.69	601288
600941	0.68	0.55	0.67		0.54	0.65	0.78	0.42	0.27	0.55	600941
601857	0.6	0.42	0.39	0.54		0.49	0.54	0.09	0.16	0.31	601857
601939	0.97	0.74	0.82	0.65	0.49		0.78	0.71	0.57	0.91	601939
601988	0.79	0.64	0.89	0.78	0.54	0.78		0.51	0.38	0.69	601988
300750	0.6	0.85	0.52	0.42	0.09	0.71	0.51		0.58	0.9	300750
601628	0.46	0.67	0.27	0.27	0.16	0.57	0.38	0.58		0.74	601628
600036	0.81	0.87	0.69	0.55	0.31	0.91	0.69	0.9	0.74		600036
	601398	600519	601288	600941	601857	601939	601988	300750	601628	600036

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Risk-Adjusted Indicators

There is a big difference between Penghua Stock performing well and Penghua Shenzhen 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 Penghua Shenzhen'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
601398	1.23	(0.11)	0.00	(6.66)	0.00	0.00	3.19	(3.25)	8.14
600519	1.84	0.11	0.02	0.36	1.95	(2.21)	7.29	(3.26)	16.71
601288	1.31	0.06	(0.04)	(0.08)	1.97	(1.23)	3.21	(3.89)	8.24
600941	0.98	0.01	0.00	0.08	0.00	0.00	2.05	(2.04)	8.38
601857	1.49	(0.20)	0.00	1.54	0.00	0.00	3.55	(3.66)	17.17
601939	1.33	(0.08)	0.00	(3.83)	0.00	0.00	3.66	(3.89)	8.64
601988	1.23	(0.04)	0.00	0.25	0.00	0.00	2.88	(3.22)	7.70
300750	2.88	0.73	0.17	(11.86)	3.22	(3.56)	10.36	(3.43)	33.42
601628	2.04	0.60	0.14	(0.60)	2.29	(2.38)	6.42	(3.18)	20.00
600036	1.66	0.14	0.01	2.75	1.93	(2.01)	5.54	(2.62)	13.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in Penghua Shenzhen 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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