CHINA VANKE Correlations

18V Stock

EUR 0.71 0.01 1.43%

The correlation of CHINA VANKE 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.

CHINA VANKE Correlation With Market

Modest diversification

The correlation between CHINA VANKE TD and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHINA VANKE TD and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CHINA VANKE 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 VANKE 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 VANKE - 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 VANKE TD to buy it.

Moving together with CHINA Stock

0.89	CPP	China Overseas Land	Pair Corr
0.9	RLF	Longfor Group Holdings	Pair Corr
0.69	PQ9	PT Bank Mandiri	Pair Corr
0.76	PQ9	BANK MANDIRI	Pair Corr
0.73	PQ9	BANK MANDIRI	Pair Corr
0.63	PQ9	BANK MANDIRI	Pair Corr
0.78	BYRA	BANK RAKYAT IND Earnings Call This Week	Pair Corr
0.78	BYRA	BANK RAKYAT IND Earnings Call This Week	Pair Corr
0.65	BZG2	BANK CENTRAL ASIA	Pair Corr

Moving against CHINA Stock

0.61	6GAA	Grupo Aval Acciones	Pair Corr
0.56	SHG	Sun Hung Kai	Pair Corr
0.49	DWH	Daiwa House Industry Earnings Call This Week	Pair Corr
0.82	ASME	ASML Holding NV	Pair Corr
0.81	WM1	WILLIAMS SONOMA	Pair Corr
0.8	HBC2	HSBC Holdings plc	Pair Corr
0.79	ELG	Elmos Semiconductor	Pair Corr
0.77	CENN	CENTRICA ADR NEW	Pair Corr
0.72	STD	Standard Chartered PLC	Pair Corr
0.72	SXC	Sunny Optical Technology	Pair Corr
0.71	SAP	SAP SE	Pair Corr
0.67	IC1B	INTERCONT HOTELS	Pair Corr
0.63	06MA	Materialise NV	Pair Corr
0.6	E6Q	Gold Road Resources	Pair Corr
0.56	DBPE	Xtrackers LevDAX	Pair Corr
0.53	E908	Lyxor 1	Pair Corr
0.41	4JP	Japan Post Insurance	Pair Corr
0.4	CBW	CNVISION MEDIA	Pair Corr

Related Correlations Analysis

	13O	LID	3T4	9JU	GS2C	ZZG	5HS	6C2
13O		0.0	0.0	0.0	0.0	0.0	0.0	0.0	13O
LID	0.0		0.42	-0.15	0.69	0.68	-0.19	0.66	LID
3T4	0.0	0.42		-0.33	0.36	0.39	-0.03	0.51	3T4
9JU	0.0	-0.15	-0.33		-0.26	-0.46	0.46	0.18	9JU
GS2C	0.0	0.69	0.36	-0.26		0.59	-0.06	0.39	GS2C
ZZG	0.0	0.68	0.39	-0.46	0.59		-0.6	0.35	ZZG
5HS	0.0	-0.19	-0.03	0.46	-0.06	-0.6		0.22	5HS
6C2	0.0	0.66	0.51	0.18	0.39	0.35	0.22		6C2
	13O	LID	3T4	9JU	GS2C	ZZG	5HS	6C2

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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

GS2C	+ 0.69	LID
ZZG	+ 0.68	LID
6C2	+ 0.66	LID
ZZG	+ 0.59	GS2C
6C2	+ 0.51	3T4
5HS	+ 0.46	9JU

High negative correlations

5HS	- 0.6	ZZG
ZZG	- 0.46	9JU
9JU	- 0.33	3T4
GS2C	- 0.26	9JU
5HS	- 0.19	LID
9JU	- 0.15	LID

Risk-Adjusted Indicators

There is a big difference between CHINA Stock performing well and CHINA VANKE 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 VANKE'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
13O	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LID	1.93	0.49	0.21	3.71	1.61	(2.30)	3.88	(2.56)	23.86
3T4	0.76	0.10	0.00	(0.90)	1.17	(1.30)	1.96	(1.32)	8.18
9JU	2.63	0.27	0.05	2.10	3.41	(3.29)	6.59	(4.55)	21.77
GS2C	2.90	0.60	0.14	(3.99)	3.12	(3.28)	8.05	(4.34)	20.96
ZZG	1.55	0.15	0.05	1.02	1.32	(2.22)	3.97	(2.47)	9.88
5HS	1.25	0.00	(0.05)	0.12	1.44	(1.55)	2.39	(3.12)	9.55
6C2	3.41	0.65	0.14	(1.59)	3.51	(4.47)	8.91	(5.09)	22.98

Be your own money manager

Our tools can tell you how much better you can do entering a position in CHINA VANKE 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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