Beijing Dynamic Correlations
| 600405 Stock | 5.37 0.09 1.70% |
The current 90-days correlation between Beijing Dynamic Power and Sinomach General Machinery is 0.27 (i.e., Modest diversification). The correlation of Beijing Dynamic 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.
Beijing Dynamic Correlation With Market
Modest diversification
The correlation between Beijing Dynamic Power 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 Beijing Dynamic Power and DJI in the same portfolio, assuming nothing else is changed.
Beijing |
The ability to find closely correlated positions to Beijing Dynamic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Beijing Dynamic 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 Beijing Dynamic - 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 Beijing Dynamic Power to buy it.
Moving together with Beijing Stock
Moving against Beijing Stock
| 0.73 | 300395 | Hubei Feilihua Quartz | PairCorr |
| 0.7 | 300818 | Jiangxi Naipu Mining | PairCorr |
| 0.69 | 000925 | UniTTEC | PairCorr |
| 0.62 | 300264 | AVIT | PairCorr |
| 0.62 | 002438 | Jiangsu Shentong Valve | PairCorr |
| 0.59 | 600713 | NanJing Pharmaceutical | PairCorr |
| 0.57 | 603515 | Opple Lighting | PairCorr |
| 0.55 | 000890 | Jiangsu Fasten | PairCorr |
| 0.46 | 300626 | Huarui Electrical | PairCorr |
| 0.43 | 600566 | Hubei Jumpcan Pharma | PairCorr |
| 0.35 | 300071 | Spearhead Integrated | PairCorr |
| 0.32 | 000980 | Zotye Automobile | PairCorr |
| 0.73 | 001318 | Jiangxi Sunshine Dairy | PairCorr |
| 0.7 | 300502 | Eoptolink Technology | PairCorr |
| 0.69 | 000415 | Bohai Leasing | PairCorr |
| 0.65 | 002738 | Sinomine Resource | PairCorr |
| 0.64 | 600984 | Shaanxi Construction | PairCorr |
| 0.61 | 900928 | Shanghai Lingang Holdings | PairCorr |
| 0.61 | 003041 | Zhejiang Truelove Vogue | PairCorr |
| 0.55 | 601869 | Yangtze Optical Fibre | PairCorr |
| 0.52 | 000530 | Bingshan Refrigeration | PairCorr |
| 0.52 | 300099 | Uroica Mining Safety | PairCorr |
| 0.47 | 600456 | BaoJi Titanium Industry | PairCorr |
| 0.46 | 301338 | GKG Precision Machine | PairCorr |
| 0.44 | 300560 | Zhong Fu Tong | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Beijing Stock performing well and Beijing Dynamic 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 Beijing Dynamic'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 600444 | 1.91 | 0.05 | 0.02 | 0.13 | 2.28 | 3.91 | 16.38 | |||
| 601007 | 1.18 | 0.04 | (0.02) | 0.30 | 1.67 | 2.23 | 7.83 | |||
| 600512 | 1.01 | (0.03) | (0.04) | 0.03 | 1.46 | 2.03 | 8.20 | |||
| 300195 | 1.66 | 0.08 | 0.01 | 0.28 | 2.19 | 3.17 | 12.88 | |||
| 000428 | 1.39 | (0.03) | (0.05) | (0.01) | 1.71 | 3.30 | 10.84 | |||
| 603789 | 1.25 | (0.15) | 0.00 | (0.12) | 0.00 | 3.24 | 8.74 | |||
| 000821 | 1.88 | 0.04 | 0.02 | 0.12 | 2.03 | 4.89 | 11.10 | |||
| 605060 | 2.95 | 0.29 | 0.09 | 0.40 | 2.97 | 10.00 | 18.57 |
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Beijing Dynamic Corporate Executives
Elected by the shareholders, the Beijing Dynamic's board of directors comprises two types of representatives: Beijing Dynamic inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Beijing. The board's role is to monitor Beijing Dynamic's management team and ensure that shareholders' interests are well served. Beijing Dynamic'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, Beijing Dynamic's outside directors are responsible for providing unbiased perspectives on the board's policies.