Sumec Corp Correlations

600710 Stock

13.12 0.06 0.46%

The current 90-days correlation between Sumec Corp and Hunan Nanling Industrial is -0.26 (i.e., Very good diversification). The correlation of Sumec Corp 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.

Sumec Corp Correlation With Market

Very weak diversification

The correlation between Sumec Corp and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sumec Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sumec Stock

0.81	601857	PetroChina	Pair Corr
0.86	600938	CNOOC Limited	Pair Corr
0.69	300347	Hangzhou Tigermed	Pair Corr
0.75	002848	Gospell Digital Tech	Pair Corr
0.71	600761	Anhui Heli	Pair Corr
0.71	600389	Nantong Jiangshan	Pair Corr
0.73	688037	Kingsemi	Pair Corr
0.67	603699	Neway Valve suzhou	Pair Corr
0.75	300249	Sichuan Yimikang Env	Pair Corr
0.81	002919	Mingchen Health	Pair Corr
0.72	002208	Hefei Urban Construction	Pair Corr
0.86	000786	Beijing New Building	Pair Corr
0.77	000726	Lu Thai Textile	Pair Corr
0.77	301095	Semitronix Corp A	Pair Corr
0.77	000822	Shandong Haihua	Pair Corr
0.74	002865	Hainan Drinda Automotive	Pair Corr
0.85	601002	Gem Year Industrial	Pair Corr
0.74	000031	Grandjoy Holdings	Pair Corr
0.61	603556	Hexing Electrical	Pair Corr
0.78	002938	Avary Holding Shenzhen	Pair Corr

Moving against Sumec Stock

0.86	601398	Industrial and Commercial	Pair Corr
0.85	601288	Agricultural Bank	Pair Corr
0.78	600941	China Mobile Limited	Pair Corr
0.67	601988	Bank of China	Pair Corr
0.66	601939	China Construction Bank	Pair Corr
0.52	300750	Contemporary Amperex	Pair Corr

Related Correlations Analysis

	159005	002952	603199	516220	002096	002999	300243
159005		0.62	0.83	0.88	0.64	0.51	0.52	159005
002952	0.62		0.56	0.41	0.38	0.68	0.57	002952
603199	0.83	0.56		0.85	0.72	0.55	0.57	603199
516220	0.88	0.41	0.85		0.85	0.59	0.68	516220
002096	0.64	0.38	0.72	0.85		0.76	0.86	002096
002999	0.51	0.68	0.55	0.59	0.76		0.88	002999
300243	0.52	0.57	0.57	0.68	0.86	0.88		300243
	159005	002952	603199	516220	002096	002999	300243

Risk-Adjusted Indicators

There is a big difference between Sumec Stock performing well and Sumec Corp 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 Sumec Corp'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
159005	0.01	(0.01)	0.00	(0.81)	0.00	0.00	0.00	0.00	0.10
002952	1.76	0.19	0.05	(0.62)	1.73	(2.10)	4.29	(3.27)	13.95
603199	1.35	0.18	0.06	4.36	1.45	(1.59)	2.97	(2.93)	13.90
516220	1.36	0.35	0.12	2.00	1.46	(1.92)	3.13	(2.04)	11.28
002096	0.94	0.04	(0.02)	0.25	1.40	(0.95)	2.37	(1.50)	8.20
002999	1.24	0.07	(0.02)	(0.13)	1.82	(1.22)	2.55	(2.51)	7.37
300243	1.36	0.12	0.02	3.52	1.94	(1.32)	2.07	(2.57)	8.86

Sumec Corp Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Sumec Corp stock to make a market-neutral strategy. Peer analysis of Sumec Corp could also be used in its relative valuation, which is a method of valuing Sumec Corp by comparing valuation metrics with similar companies.

159005 Yes Optoelectronics Co Anhui Jiuhuashan Tourism 516220 Hunan Nanling Industrial Guangdong Tianhe Agricultural Shandong Ruifeng Chemical American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

Sumec Corp Corporate Executives

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

Zhang Xin

Deputy CFO

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