Zhejiang Zhengguang Correlations
| 301092 Stock | 24.96 0.46 1.88% |
The current 90-days correlation between Zhejiang Zhengguang and Zijin Mining Group is 0.34 (i.e., Weak diversification). The correlation of Zhejiang Zhengguang 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.
Zhejiang Zhengguang Correlation With Market
Significant diversification
The correlation between Zhejiang Zhengguang Industrial and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Zhengguang Industrial and DJI in the same portfolio, assuming nothing else is changed.
Zhejiang |
The ability to find closely correlated positions to Zhejiang Zhengguang could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zhejiang Zhengguang 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 Zhejiang Zhengguang - 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 Zhejiang Zhengguang Industrial to buy it.
Moving together with Zhejiang Stock
| 0.62 | 600309 | Wanhua Chemical Group | PairCorr |
| 0.91 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.91 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.86 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.89 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.89 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.92 | 600160 | Zhejiang Juhua | PairCorr |
| 0.87 | 000807 | Yunnan Aluminium | PairCorr |
| 0.91 | 601318 | Ping An Insurance | PairCorr |
| 0.88 | 600036 | China Merchants Bank | PairCorr |
| 0.79 | 601166 | Industrial Bank | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Zhejiang Stock performing well and Zhejiang Zhengguang 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 Zhejiang Zhengguang'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601899 | 1.64 | 0.01 | 0.00 | 0.09 | 0.00 | 3.35 | 10.10 | |||
| 600019 | 1.59 | 0.16 | 0.01 | 10.28 | 2.05 | 4.80 | 17.37 | |||
| 002493 | 1.50 | 0.20 | 0.03 | (9.55) | 1.87 | 4.12 | 15.52 | |||
| 603260 | 2.07 | 0.47 | 0.11 | (1.99) | 2.42 | 4.90 | 17.89 |
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Zhejiang Zhengguang Corporate Executives
Elected by the shareholders, the Zhejiang Zhengguang's board of directors comprises two types of representatives: Zhejiang Zhengguang inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zhejiang. The board's role is to monitor Zhejiang Zhengguang's management team and ensure that shareholders' interests are well served. Zhejiang Zhengguang'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, Zhejiang Zhengguang's outside directors are responsible for providing unbiased perspectives on the board's policies.