Ningbo Boway Correlations
| 601137 Stock | 18.87 0.34 1.83% |
The current 90-days correlation between Ningbo Boway Alloy and Hoshine Silicon Ind is 0.73 (i.e., Poor diversification). The correlation of Ningbo Boway 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.
Ningbo Boway Correlation With Market
Good diversification
The correlation between Ningbo Boway Alloy and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ningbo Boway Alloy and DJI in the same portfolio, assuming nothing else is changed.
Ningbo |
The ability to find closely correlated positions to Ningbo Boway could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ningbo Boway 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 Ningbo Boway - 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 Ningbo Boway Alloy to buy it.
Moving together with Ningbo Stock
| 0.7 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.73 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.74 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.74 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.84 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.8 | 600160 | Zhejiang Juhua | PairCorr |
| 0.69 | 000807 | Yunnan Aluminium | PairCorr |
| 0.7 | 601668 | China State Construction | PairCorr |
| 0.8 | 601390 | China Railway Group | PairCorr |
| 0.77 | 300813 | Zhejiang Tailin Bioe | PairCorr |
| 0.79 | 002939 | China Great Wall | PairCorr |
| 0.74 | 601615 | Ming Yang Smart | PairCorr |
| 0.71 | 300981 | Zhonghong Pulin Medical | PairCorr |
| 0.85 | 000725 | BOE Technology Group | PairCorr |
| 0.66 | 600675 | China Enterprise | PairCorr |
| 0.81 | 300946 | Hengerda New Materials | PairCorr |
| 0.69 | 600830 | Sunny Loan Top | PairCorr |
| 0.75 | 603496 | EmbedWay TechCorp | PairCorr |
| 0.72 | 002887 | Tianjin LVYIN Landscape | PairCorr |
| 0.65 | 300124 | Shenzhen Inovance Tech | PairCorr |
| 0.8 | 002236 | Zhejiang Dahua Technology | PairCorr |
| 0.67 | 603928 | Suzhou Xingye Material | PairCorr |
| 0.85 | 002035 | Vatti Corp | PairCorr |
Moving against Ningbo 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Ningbo Stock performing well and Ningbo Boway 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 Ningbo Boway'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 | 1.62 | 0.05 | 0.01 | 0.36 | 2.02 | 3.26 | 10.10 | |||
| 600309 | 1.76 | 0.02 | 0.00 | 0.07 | 2.31 | 3.92 | 16.38 | |||
| 600019 | 1.67 | 0.38 | 0.13 | 2.01 | 2.05 | 4.80 | 17.37 | |||
| 600547 | 1.35 | (0.15) | 0.00 | 2.76 | 0.00 | 2.39 | 12.15 | |||
| 002493 | 1.52 | 0.18 | 0.07 | 1.05 | 1.97 | 4.12 | 15.52 | |||
| 600010 | 2.47 | 0.51 | 0.17 | 1.26 | 2.46 | 7.46 | 19.48 | |||
| 603260 | 2.02 | 0.25 | 0.08 | 13.91 | 2.50 | 4.90 | 17.89 | |||
| 600160 | 2.11 | 0.60 | 0.24 | (2.35) | 1.85 | 6.09 | 15.23 | |||
| 000807 | 2.00 | 0.34 | 0.12 | 3.85 | 2.27 | 5.75 | 15.53 |
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Ningbo Boway Corporate Management
Elected by the shareholders, the Ningbo Boway's board of directors comprises two types of representatives: Ningbo Boway inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Ningbo. The board's role is to monitor Ningbo Boway's management team and ensure that shareholders' interests are well served. Ningbo Boway'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, Ningbo Boway's outside directors are responsible for providing unbiased perspectives on the board's policies.