Huaxia Fund Correlations

508077 Stock

3.08 0.00 0.00%

The current 90-days correlation between Huaxia Fund Management and Industrial and Commercial is -0.07 (i.e., Good diversification). The correlation of Huaxia Fund 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.

Huaxia Fund Correlation With Market

Good diversification

The correlation between Huaxia Fund Management 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 Huaxia Fund Management and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Huaxia Stock

0.84	601398	Industrial and Commercial	Pair Corr
0.75	601288	Agricultural Bank	Pair Corr
0.72	600941	China Mobile Limited	Pair Corr
0.7	601939	China Construction Bank	Pair Corr
0.7	601857	PetroChina	Pair Corr
0.88	601988	Bank of China	Pair Corr
0.66	600036	China Merchants Bank	Pair Corr
0.97	508096	AVIC Fund Management	Pair Corr
0.81	002582	Haoxiangni Jujube	Pair Corr
0.88	180401	Penghua Shenzhen Energy	Pair Corr
0.93	300866	Anker Innovations	Pair Corr

Moving against Huaxia Stock

0.8	200012	CSG Holding	Pair Corr
0.79	600519	Kweichow Moutai	Pair Corr
0.75	601628	China Life Insurance	Pair Corr
0.75	000517	Rongan Property	Pair Corr
0.69	605368	Henan Lantian Gas	Pair Corr

Related Correlations Analysis

	601398	600519	601288	600941	601939	601857	601988	300750	600036	601628
601398		-0.58	0.97	0.91	0.96	0.86	0.98	-0.09	0.64	-0.58	601398
600519	-0.58		-0.49	-0.45	-0.41	-0.46	-0.67	0.5	-0.36	0.92	600519
601288	0.97	-0.49		0.93	0.98	0.85	0.96	-0.04	0.55	-0.51	601288
600941	0.91	-0.45	0.93		0.93	0.75	0.89	0.08	0.36	-0.5	600941
601939	0.96	-0.41	0.98	0.93		0.83	0.91	-0.02	0.55	-0.44	601939
601857	0.86	-0.46	0.85	0.75	0.83		0.86	-0.26	0.66	-0.54	601857
601988	0.98	-0.67	0.96	0.89	0.91	0.86		-0.15	0.59	-0.68	601988
300750	-0.09	0.5	-0.04	0.08	-0.02	-0.26	-0.15		-0.2	0.52	300750
600036	0.64	-0.36	0.55	0.36	0.55	0.66	0.59	-0.2		-0.31	600036
601628	-0.58	0.92	-0.51	-0.5	-0.44	-0.54	-0.68	0.52	-0.31		601628
	601398	600519	601288	600941	601939	601857	601988	300750	600036	601628

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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

601988	+ 0.98	601398
601939	+ 0.98	601288
601288	+ 0.97	601398
601939	+ 0.96	601398
601988	+ 0.96	601288
600941	+ 0.93	601288

High negative correlations

601628	- 0.68	601988
601988	- 0.67	600519
601628	- 0.58	601398
600519	- 0.58	601398
601628	- 0.54	601857
601628	- 0.51	601288

Risk-Adjusted Indicators

There is a big difference between Huaxia Stock performing well and Huaxia Fund 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 Huaxia Fund'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	0.95	0.18	0.07	(0.72)	0.90	(1.18)	2.31	(1.52)	6.36
600519	0.85	(0.11)	0.00	0.71	0.00	0.00	1.97	(2.37)	7.96
601288	0.91	0.12	0.01	(0.43)	1.25	(0.94)	2.20	(1.58)	7.85
600941	0.90	0.13	0.04	(3.56)	0.87	(1.05)	2.20	(1.64)	6.82
601939	0.95	0.10	(0.01)	(0.26)	0.99	(1.13)	1.86	(1.89)	4.13
601857	1.09	0.01	0.00	0.06	0.00	0.00	2.47	(2.03)	7.14
601988	0.90	0.18	0.06	(0.60)	0.93	(1.09)	1.90	(1.83)	5.62
300750	1.62	0.02	(0.05)	(0.03)	1.76	(1.86)	3.88	(2.80)	7.91
600036	1.04	0.08	(0.02)	(0.22)	1.32	(1.05)	2.14	(1.95)	6.49
601628	1.64	(0.09)	0.00	0.55	0.00	0.00	3.84	(3.94)	15.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in Huaxia Fund 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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