Hubei Forbon Correlations

300387 Stock

8.07 0.50 5.83%

The current 90-days correlation between Hubei Forbon Technology and Huitong Construction Group is 0.45 (i.e., Very weak diversification). The correlation of Hubei Forbon 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.

Hubei Forbon Correlation With Market

Good diversification

The correlation between Hubei Forbon Technology and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hubei Forbon Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hubei Stock

0.64	601899	Zijin Mining Group	Pair Corr
0.73	600309	Wanhua Chemical Group	Pair Corr
0.86	600019	Baoshan Iron Steel	Pair Corr
0.87	002493	Rongsheng Petrochemical	Pair Corr
0.85	600010	Inner Mongolia BaoTou	Pair Corr
0.88	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.92	603260	Hoshine Silicon Ind	Pair Corr
0.87	600160	Zhejiang Juhua	Pair Corr
0.94	000807	Yunnan Aluminium	Pair Corr
0.91	688256	Cambricon Technologies	Pair Corr
0.95	688047	Loongson Technology Corp	Pair Corr
0.92	600106	Chongqing Road Bridge	Pair Corr
0.95	688318	Shenzhen Fortune Trend	Pair Corr
0.86	600769	Wuhan Xianglong Power	Pair Corr
0.9	002693	Hainan Shuangcheng	Pair Corr
0.87	301269	Empyrean Technology	Pair Corr
0.9	002625	Kuang Chi Technologies	Pair Corr
0.88	301259	Hunan Airbluer Envir	Pair Corr

Related Correlations Analysis

	603176	601789	601021	301113	000680	002295	605128	601061
603176		0.81	0.8	0.92	0.86	0.87	0.94	0.92	603176
601789	0.81		0.82	0.9	0.87	0.89	0.79	0.85	601789
601021	0.8	0.82		0.86	0.83	0.82	0.84	0.91	601021
301113	0.92	0.9	0.86		0.86	0.91	0.93	0.94	301113
000680	0.86	0.87	0.83	0.86		0.97	0.87	0.94	000680
002295	0.87	0.89	0.82	0.91	0.97		0.89	0.95	002295
605128	0.94	0.79	0.84	0.93	0.87	0.89		0.96	605128
601061	0.92	0.85	0.91	0.94	0.94	0.95	0.96		601061
	603176	601789	601021	301113	000680	002295	605128	601061

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Risk-Adjusted Indicators

There is a big difference between Hubei Stock performing well and Hubei Forbon 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 Hubei Forbon'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
603176	2.39	0.59	0.17	(1.44)	2.25	(3.08)	6.67	(3.77)	18.72
601789	2.23	0.63	0.16	(0.80)	2.42	(2.70)	6.52	(3.88)	20.08
601021	1.59	0.28	0.07	(0.95)	1.87	(1.90)	3.95	(2.38)	14.87
301113	2.42	0.53	0.12	(1.54)	2.89	(2.67)	5.18	(3.39)	27.85
000680	2.42	0.74	0.19	(0.66)	2.37	(2.77)	6.54	(4.76)	14.49
002295	1.96	0.57	0.17	(1.54)	2.06	(2.30)	4.33	(2.84)	18.02
605128	2.38	0.66	0.28	6.01	1.75	(3.10)	6.76	(3.29)	13.40
601061	1.41	0.32	0.09	(0.87)	1.78	(1.52)	3.63	(2.44)	16.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hubei Forbon 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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Hubei Forbon Corporate Management

Elected by the shareholders, the Hubei Forbon's board of directors comprises two types of representatives: Hubei Forbon inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hubei. The board's role is to monitor Hubei Forbon's management team and ensure that shareholders' interests are well served. Hubei Forbon'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, Hubei Forbon's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jiawei Feng	Deputy Manager	Profile
Baihong Gao	Financial Controller	Profile
Jianjun Ding	Financial Controller	Profile
Erik Bijpost	Deputy Manager	Profile
Zhibin Zhou	Deputy Manager	Profile

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