Tibet Huayu Correlations

601020 Stock

14.35 0.85 6.30%

The current 90-days correlation between Tibet Huayu Mining and Zijin Mining Group is 0.52 (i.e., Very weak diversification). The correlation of Tibet Huayu 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.

Tibet Huayu Correlation With Market

Average diversification

The correlation between Tibet Huayu Mining and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tibet Huayu Mining and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tibet Stock

0.77	600019	Baoshan Iron Steel	Pair Corr
0.83	002493	Rongsheng Petrochemical	Pair Corr
0.94	600010	Inner Mongolia BaoTou	Pair Corr
0.81	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.74	603260	Hoshine Silicon Ind	Pair Corr
0.87	600160	Zhejiang Juhua	Pair Corr
0.79	000807	Yunnan Aluminium	Pair Corr
0.83	000678	Xiangyang Automobile	Pair Corr

Related Correlations Analysis

	601899	600309	600019	600547	002493	600010	002460	603260	600160	000807
601899		0.72	0.67	0.5	0.58	0.4	0.32	0.47	0.69	0.73	601899
600309	0.72		0.62	0.04	0.77	0.54	0.54	0.7	0.73	0.77	600309
600019	0.67	0.62		-0.01	0.84	0.8	0.78	0.75	0.88	0.87	600019
600547	0.5	0.04	-0.01		-0.17	-0.37	-0.39	-0.39	-0.06	-0.14	600547
002493	0.58	0.77	0.84	-0.17		0.88	0.89	0.88	0.92	0.86	002493
600010	0.4	0.54	0.8	-0.37	0.88		0.92	0.84	0.88	0.84	600010
002460	0.32	0.54	0.78	-0.39	0.89	0.92		0.85	0.86	0.76	002460
603260	0.47	0.7	0.75	-0.39	0.88	0.84	0.85		0.84	0.86	603260
600160	0.69	0.73	0.88	-0.06	0.92	0.88	0.86	0.84		0.92	600160
000807	0.73	0.77	0.87	-0.14	0.86	0.84	0.76	0.86	0.92		000807
	601899	600309	600019	600547	002493	600010	002460	603260	600160	000807

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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

600160	+ 0.92	002493
002460	+ 0.92	600010
000807	+ 0.92	600160
002460	+ 0.89	002493
600160	+ 0.88	600019
600010	+ 0.88	002493

High negative correlations

603260	- 0.39	600547
002460	- 0.39	600547
600010	- 0.37	600547
002493	- 0.17	600547
000807	- 0.14	600547
600160	- 0.06	600547

Risk-Adjusted Indicators

There is a big difference between Tibet Stock performing well and Tibet Huayu 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 Tibet Huayu'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
601899	1.68	0.04	(0.05)	(0.04)	2.18	(1.76)	3.35	(3.39)	10.10
600309	1.68	0.13	(0.02)	(0.16)	2.23	(1.94)	3.92	(3.47)	16.38
600019	1.60	0.11	0.00	1.89	2.19	(1.78)	4.80	(3.10)	17.37
600547	1.63	(0.23)	0.00	4.08	0.00	0.00	3.52	(3.29)	12.15
002493	1.56	0.18	0.00	(0.31)	2.06	(1.74)	4.12	(3.38)	15.52
600010	2.20	0.43	0.14	0.58	2.30	(2.97)	7.46	(4.00)	19.48
002460	3.39	0.85	0.19	(1.91)	3.19	(4.06)	9.99	(5.78)	20.00
603260	2.09	0.51	0.10	(0.38)	2.50	(2.36)	4.90	(3.79)	17.89
600160	2.25	0.34	0.04	(0.28)	2.47	(2.48)	5.26	(5.00)	15.23
000807	2.07	0.29	0.06	(1.39)	2.25	(2.40)	4.73	(3.27)	15.53

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tibet Huayu 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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Tibet Huayu Corporate Management

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

Wenzheng Xie	Deputy Investment	Profile
Cuiliang Xue	Deputy Manager	Profile
Zhixia Liu	Head Department	Profile
Shilai Jiang	G Mang	Profile
Yan Wang	Deputy Mang	Profile
Yan Sun	Secretary Board	Profile

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