Bank of Beijing Co Ltd Correlations
| 601169 Stock | 5.69 0.09 1.61% |
The current 90-days correlation between Bank of Beijing Co Ltd and Guilin Seamild Foods is -0.08 (i.e., Good diversification). The correlation of Bank of Beijing Co Ltd 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 Beijing Co Ltd Correlation With Market
Very good diversification
The correlation between Bank of Beijing and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank of Beijing and DJI in the same portfolio, assuming nothing else is changed.
Bank |
The ability to find closely correlated positions to Bank of Beijing Co Ltd 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 Beijing Co Ltd 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 Beijing Co Ltd - 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 Beijing to buy it.
Moving together with Bank Stock
| 0.8 | 600519 | Kweichow Moutai | PairCorr |
| 0.67 | 300750 | Contemporary Amperex | PairCorr |
| 0.65 | 002594 | BYD Co | PairCorr |
| 0.8 | 200596 | Anhui Gujing Distillery | PairCorr |
| 0.82 | 000596 | Anhui Gujing Distillery | PairCorr |
| 0.66 | 002371 | NAURA Technology | PairCorr |
| 0.7 | 300760 | Shenzhen Mindray Bio | PairCorr |
| 0.64 | 900957 | Shanghai Lingyun Ind | PairCorr |
Related Correlations Analysis
| 0.88 | 0.75 | 0.84 | 0.88 | 0.83 | 0.85 | 002956 | ||
| 0.88 | 0.95 | 0.98 | 0.92 | 0.93 | 0.98 | 300898 | ||
| 0.75 | 0.95 | 0.96 | 0.83 | 0.87 | 0.95 | 002847 | ||
| 0.84 | 0.98 | 0.96 | 0.89 | 0.91 | 0.97 | 601969 | ||
| 0.88 | 0.92 | 0.83 | 0.89 | 0.86 | 0.9 | 001215 | ||
| 0.83 | 0.93 | 0.87 | 0.91 | 0.86 | 0.92 | 600711 | ||
| 0.85 | 0.98 | 0.95 | 0.97 | 0.9 | 0.92 | 300099 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Bank Stock performing well and Bank of Beijing Co Ltd 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 Beijing Co Ltd'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 002956 | 2.06 | 0.07 | 0.01 | 0.21 | 2.51 | 5.35 | 16.47 | |||
| 300898 | 2.69 | 0.58 | 0.13 | 1.40 | 3.43 | 7.74 | 31.84 | |||
| 002847 | 2.10 | 0.36 | 0.13 | 0.56 | 2.24 | 5.23 | 17.84 | |||
| 601969 | 2.04 | 0.44 | 0.10 | (1.43) | 2.43 | 4.74 | 20.01 | |||
| 001215 | 3.04 | 0.65 | 0.17 | 2.10 | 2.74 | 9.99 | 20.01 | |||
| 600711 | 2.04 | 0.51 | 0.13 | (0.49) | 1.97 | 5.06 | 10.07 | |||
| 300099 | 2.83 | 0.66 | 0.13 | (2.48) | 3.56 | 5.48 | 27.46 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Bank of Beijing Co Ltd 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.Did you try this?
Run Idea Analyzer Now
Idea AnalyzerAnalyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |
| All Next | Launch Module |