AVIC Heavy Correlations
| 600765 Stock | 18.39 0.39 2.08% |
The current 90-days correlation between AVIC Heavy Machinery and Heilongjiang Agriculture Co is 0.49 (i.e., Very weak diversification). The correlation of AVIC Heavy 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.
AVIC Heavy Correlation With Market
Average diversification
The correlation between AVIC Heavy Machinery and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Heavy Machinery and DJI in the same portfolio, assuming nothing else is changed.
AVIC |
The ability to find closely correlated positions to AVIC Heavy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AVIC Heavy 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 AVIC Heavy - 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 AVIC Heavy Machinery to buy it.
Moving against AVIC Stock
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between AVIC Stock performing well and AVIC Heavy 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 AVIC Heavy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 002822 | 3.06 | 0.96 | 0.26 | 1.42 | 2.92 | 5.12 | 10.26 | |||
| 600765 | 1.70 | (0.26) | 0.00 | (0.55) | 0.00 | 3.82 | 12.06 | |||
| 600598 | 1.16 | (0.02) | 0.00 | 0.34 | 0.00 | 3.20 | 8.05 | |||
| 600698 | 2.90 | 0.01 | (0.01) | 0.08 | 3.81 | 6.41 | 20.10 | |||
| 300967 | 2.24 | (0.02) | 0.00 | 0.72 | 0.00 | 4.81 | 12.94 | |||
| 300512 | 2.10 | (0.04) | 0.00 | (0.08) | 0.00 | 3.51 | 12.61 | |||
| 003021 | 4.60 | 1.06 | 0.27 | 0.58 | 3.81 | 10.00 | 20.00 | |||
| 300281 | 2.30 | (0.13) | 0.00 | (0.20) | 0.00 | 4.17 | 15.16 | |||
| 605060 | 3.05 | 0.50 | 0.11 | (4.03) | 3.53 | 10.00 | 17.40 |
AVIC Heavy 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 AVIC Heavy stock to make a market-neutral strategy. Peer analysis of AVIC Heavy could also be used in its relative valuation, which is a method of valuing AVIC Heavy by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
AVIC Heavy Corporate Management
Elected by the shareholders, the AVIC Heavy's board of directors comprises two types of representatives: AVIC Heavy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of AVIC. The board's role is to monitor AVIC Heavy's management team and ensure that shareholders' interests are well served. AVIC Heavy'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, AVIC Heavy's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Zhengyuan Zhang | Deputy Mang | Profile | |
| Zhiyong Mao | Deputy Mang | Profile | |
| Guiqi Song | Chief Accountant | Profile | |
| Shengli Ji | Deputy Manager | Profile |