Baoshan Iron Correlations

600019 Stock

6.60 0.18 2.65%

The current 90-days correlation between Baoshan Iron Steel and Anhui Huaheng Biotechnology is 0.19 (i.e., Average diversification). The correlation of Baoshan Iron 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.

Baoshan Iron Correlation With Market

Average diversification

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

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

Moving together with Baoshan Stock

0.64	600368	Guangxi Wuzhou Commu	Pair Corr
0.61	601238	Guangzhou Automobile	Pair Corr

Moving against Baoshan Stock

0.51	600547	Shandong Gold Mining	Pair Corr
0.4	601899	Zijin Mining Group	Pair Corr

Related Correlations Analysis

	688639	603999	300463	002607	600373	600551	300364	300651
688639		0.31	0.93	0.22	0.63	0.47	0.86	0.65	688639
603999	0.31		0.31	0.86	0.05	0.9	0.39	0.79	603999
300463	0.93	0.31		0.26	0.48	0.45	0.81	0.64	300463
002607	0.22	0.86	0.26		-0.03	0.81	0.29	0.69	002607
600373	0.63	0.05	0.48	-0.03		0.26	0.49	0.18	600373
600551	0.47	0.9	0.45	0.81	0.26		0.45	0.81	600551
300364	0.86	0.39	0.81	0.29	0.49	0.45		0.63	300364
300651	0.65	0.79	0.64	0.69	0.18	0.81	0.63		300651
	688639	603999	300463	002607	600373	600551	300364	300651

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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

300463	+ 0.93	688639
600551	+ 0.9	603999
300364	+ 0.86	688639
002607	+ 0.86	603999
300364	+ 0.81	300463
600551	+ 0.81	002607

High negative correlations

600373

- 0.03

002607

Risk-Adjusted Indicators

There is a big difference between Baoshan Stock performing well and Baoshan Iron 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 Baoshan Iron'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
688639	2.14	(0.38)	0.00	(0.76)	0.00	0.00	4.97	(4.66)	12.29
603999	2.32	0.15	0.05	0.45	3.11	(2.48)	5.67	(5.19)	18.79
300463	1.43	(0.15)	0.00	(0.50)	0.00	0.00	2.93	(2.67)	8.75
002607	3.60	0.34	0.08	0.38	3.75	(4.05)	10.03	(5.85)	20.10
600373	1.47	(0.36)	0.00	(2.58)	0.00	0.00	2.35	(2.74)	10.71
600551	1.38	(0.04)	0.00	(1.03)	0.00	0.00	2.83	(3.09)	8.09
300364	3.45	0.14	0.03	0.12	4.49	(3.39)	7.29	(6.71)	31.07
300651	2.26	0.02	0.00	0.01	3.21	(2.36)	4.26	(5.72)	21.38

Be your own money manager

Our tools can tell you how much better you can do entering a position in Baoshan Iron 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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Baoshan Iron Corporate Management

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

Jun Wu	Deputy Manager	Profile
Baojun Liu	Deputy Manager	Profile
Hong Hu	Deputy Manager	Profile
Jianguo Fu	Deputy Manager	Profile
Ruiwen Ran	Head Department	Profile

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