Hunan Copote Correlations

Stocks China . 
Stock . Hunan Copote Science
600476 Stock   15.73  0.13  0.82%   
The current 90-days correlation between Hunan Copote Science and BYD Co Ltd is -0.05 (i.e., Good diversification). The correlation of Hunan Copote 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.

Hunan Copote Correlation With Market

Good diversification

The correlation between Hunan Copote Science 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 Hunan Copote Science and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hunan Copote could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hunan Copote 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 Hunan Copote - 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 Hunan Copote Science to buy it.

Moving together with Hunan Stock

  0.8601658 Postal Savings BankPairCorr
  0.69600941 China Mobile LimitedPairCorr

Moving against Hunan Stock

  0.86300337 Yinbang Clad MaterialPairCorr
  0.79688053 Chengdu Screen MicroPairCorr
  0.77301276 Beijing Jiaman DressPairCorr
  0.76601318 Ping An InsurancePairCorr
  0.68600033 Fujian ExpresswayPairCorr
  0.67688239 Guizhou Aviation TecPairCorr
  0.59002787 Suzhou Hycan HoldingsPairCorr
  0.59600887 Inner Mongolia YiliPairCorr
  0.58601601 China Pacific InsurancePairCorr
  0.58001203 Inner Mongolia DazhongPairCorr
  0.55000975 Yintai ResourcesPairCorr
  0.46601628 China Life InsurancePairCorr
  0.44002198 Guangdong JiayingPairCorr
  0.39600829 HPGC RenmintongtaiPairCorr
  0.36601857 PetroChinaPairCorr
  0.32600499 Keda Clean EnergyPairCorr
  0.31300487 Xian Sunresin NewPairCorr
  0.88000859 Anhui Guofeng PlasticPairCorr
  0.8300478 Hangzhou Gaoxin RubberPairCorr
  0.75300189 Hainan Shennong TechPairCorr
  0.65002151 Beijing BDStar NavigationPairCorr
  0.64600984 Shaanxi ConstructionPairCorr
  0.58000973 FSPG Hi TechPairCorr
  0.55300593 Beijing XinleinengPairCorr
  0.51603353 Hunan Heshun PetroleumPairCorr
  0.48002268 Westone InformationPairCorr
  0.44000572 Haima AutomobilePairCorr

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

601390
+ 0.91
601668
601398
+ 0.9
601288
601988
+ 0.89
601398
600028
+ 0.89
601857
601668
+ 0.83
002594
601939
+ 0.81
601398
  

High negative correlations

601857
- 0.91
002594
600028
- 0.9
002594
600028
- 0.79
601668
601988
- 0.75
002594
601390
- 0.73
600028
601668
- 0.68
601857

Risk-Adjusted Indicators

There is a big difference between Hunan Stock performing well and Hunan Copote 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 Hunan Copote'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
002594  1.04 (0.16) 0.00 (0.65) 0.00 
 0.00 
 2.11 
(2.37)
 4.02 
600941  0.49 (0.05) 0.00  0.31  0.00 
 0.00 
 0.98 
(0.99)
 2.67 
601288  1.30  0.15  0.06  2.38  1.24 
(1.51)
 2.66 
(2.12)
 6.27 
601398  0.80  0.11  0.03 (0.92) 0.80 
(1.00)
 2.30 
(1.75)
 5.17 
601939  0.81  0.11  0.01 (0.31) 0.89 
(0.95)
 2.58 
(1.67)
 6.03 
601857  1.12  0.32  0.24 (5.17) 0.67 
(1.44)
 3.15 
(1.35)
 6.97 
601668  0.67 (0.09) 0.00 (1.95) 0.00 
 0.00 
 0.97 
(1.68)
 6.08 
600028  0.78  0.17  0.08 (0.37) 0.65 
(0.97)
 1.83 
(1.18)
 6.49 
601988  0.90  0.10  0.01 (0.30) 1.04 
(1.02)
 1.73 
(1.91)
 7.06 
601390  0.67 (0.03) 0.00 (0.15) 0.00 
 0.00 
 1.60 
(1.72)
 7.61 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hunan Copote 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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