Bank of XiAn Correlations

600928 Stock

3.68 0.04 1.10%

The current 90-days correlation between Bank of XiAn and Xinjiang Communications Construction is 0.66 (i.e., Poor diversification). The correlation of Bank of XiAn 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.

Bank of XiAn Correlation With Market

Significant diversification

The correlation between Bank of XiAn and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank of XiAn and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Bank Stock

0.86	300841	Chengdu Kanghua Biol	Pair Corr
0.67	603392	Beijing Wantai Biological	Pair Corr
0.92	688137	Suzhou Novoprotein	Pair Corr
0.85	601600	Aluminum Corp	Pair Corr
0.89	300364	COL Digital Publishing	Pair Corr
0.91	001299	Shaanxi Meineng Clean	Pair Corr
0.87	000995	Gansu Huangtai Wine	Pair Corr
0.89	600223	Lushang Property	Pair Corr
0.85	605168	Threes Company	Pair Corr
0.85	688298	Zhejiang Orient Gene	Pair Corr
0.9	600399	Fushun Special Steel	Pair Corr
0.94	603180	Xiamen Goldenhome	Pair Corr
0.91	300074	AVCON Information Tech	Pair Corr
0.84	002429	Shenzhen MTC	Pair Corr
0.78	002792	Tongyu Communication	Pair Corr
0.93	301370	GKHT Medical Technology	Pair Corr
0.92	002941	Xinjiang Communications	Pair Corr
0.91	688019	Anji Microelectronics	Pair Corr
0.88	900957	Shanghai Lingyun Ind	Pair Corr
0.78	000598	Chengdu Xingrong Inv	Pair Corr
0.94	605499	Eastroc Beverage Split	Pair Corr
0.92	603008	Xilinmen Furniture	Pair Corr
0.81	002995	Beijing Quanshi World	Pair Corr
0.93	000555	Digital China Information	Pair Corr
0.93	688203	Zhejiang HISUN Bioma	Pair Corr
0.87	601998	China Citic Bank	Pair Corr
0.89	601615	Ming Yang Smart	Pair Corr
0.81	000839	CITIC Guoan Information	Pair Corr
0.93	300252	Kingsignal Technology	Pair Corr
0.77	688036	Shenzhen Transsion	Pair Corr
0.85	002605	Shanghai Yaoji Playing	Pair Corr
0.91	002205	XinJiang GuoTong Pipeline	Pair Corr
0.93	000042	Shenzhen Centralcon	Pair Corr
0.89	002491	Tongding Interconnection	Pair Corr
0.9	301236	iSoftStone Information	Pair Corr
0.96	600459	Sino Platinum Metals	Pair Corr
0.9	002869	Shenzhen Genvict Tec	Pair Corr
0.95	600429	Beijing Sanyuan Foods	Pair Corr

Related Correlations Analysis

	603559	002941	300898	603697	002465	603336	300973
603559		0.8	0.76	0.92	0.84	0.83	0.74	603559
002941	0.8		0.93	0.85	0.93	0.86	0.88	002941
300898	0.76	0.93		0.81	0.96	0.9	0.98	300898
603697	0.92	0.85	0.81		0.88	0.84	0.77	603697
002465	0.84	0.93	0.96	0.88		0.9	0.93	002465
603336	0.83	0.86	0.9	0.84	0.9		0.9	603336
300973	0.74	0.88	0.98	0.77	0.93	0.9		300973
	603559	002941	300898	603697	002465	603336	300973

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Risk-Adjusted Indicators

There is a big difference between Bank Stock performing well and Bank of XiAn 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 Bank of XiAn'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
603559	3.72	1.25	0.24	(1.07)	3.69	(4.25)	5.05	(5.00)	10.11
002941	2.83	0.60	0.16	2.16	2.83	(3.36)	9.95	(4.98)	19.30
300898	2.71	0.64	0.14	1.54	3.47	(3.08)	7.74	(3.55)	31.84
603697	2.82	1.07	0.33	1.83	2.12	(3.27)	8.64	(3.27)	17.03
002465	2.61	0.59	0.16	(14.07)	2.53	(3.24)	6.58	(5.19)	18.89
603336	3.18	0.63	0.16	2.59	3.12	(3.95)	8.72	(5.52)	19.60
300973	3.10	0.81	0.23	1.48	2.92	(3.82)	9.89	(4.51)	26.70

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bank of XiAn 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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