China Satellite Correlations

601698 Stock

20.17 0.42 2.04%

The current 90-days correlation between China Satellite Comm and Chengdu Kanghua Biological is 0.58 (i.e., Very weak diversification). The correlation of China Satellite 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.

China Satellite Correlation With Market

Average diversification

The correlation between China Satellite Communications and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Satellite Communications and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with China Stock

0.65	601318	Ping An Insurance	Pair Corr
0.69	601728	China Telecom Corp	Pair Corr
0.72	601628	China Life Insurance	Pair Corr
0.77	000678	Xiangyang Automobile	Pair Corr

Moving against China Stock

0.44

600028

China Petroleum Chemical

Pair Corr

Related Correlations Analysis

	300841	603392	688137	601600	300364	001299	000995	600223	605168
300841		0.83	0.92	0.87	0.85	0.81	0.77	0.92	0.83	300841
603392	0.83		0.77	0.75	0.65	0.65	0.7	0.88	0.71	603392
688137	0.92	0.77		0.85	0.92	0.93	0.92	0.93	0.95	688137
601600	0.87	0.75	0.85		0.82	0.74	0.78	0.9	0.8	601600
300364	0.85	0.65	0.92	0.82		0.91	0.88	0.82	0.89	300364
001299	0.81	0.65	0.93	0.74	0.91		0.89	0.83	0.91	001299
000995	0.77	0.7	0.92	0.78	0.88	0.89		0.86	0.94	000995
600223	0.92	0.88	0.93	0.9	0.82	0.83	0.86		0.89	600223
605168	0.83	0.71	0.95	0.8	0.89	0.91	0.94	0.89		605168
	300841	603392	688137	601600	300364	001299	000995	600223	605168

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Risk-Adjusted Indicators

There is a big difference between China Stock performing well and China Satellite 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 China Satellite'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
300841	2.75	0.28	0.01	(0.17)	3.55	(3.10)	4.85	(5.63)	32.68
603392	1.73	0.16	(0.01)	(0.17)	1.95	(2.15)	3.89	(2.16)	16.51
688137	1.95	0.23	0.03	(0.74)	2.77	(2.04)	5.14	(3.67)	22.24
601600	2.16	0.25	0.04	6.30	2.79	(2.30)	6.09	(3.93)	17.74
300364	4.07	0.85	0.14	(1.69)	4.28	(5.09)	9.53	(7.32)	34.75
001299	1.89	0.30	0.07	(1.85)	2.10	(2.11)	4.15	(3.42)	15.29
000995	3.70	0.56	0.09	(2.97)	4.04	(3.82)	10.00	(6.74)	20.01
600223	1.88	0.14	0.00	(0.57)	2.51	(2.00)	4.58	(3.17)	16.41
605168	3.00	0.53	0.11	(15.97)	3.20	(3.31)	9.43	(5.78)	19.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in China Satellite 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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China Satellite Corporate Management

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

Xiaodong Liu	Deputy Manager	Profile
Wen Chen	Deputy Manager	Profile
Tao Peng	Deputy Manager	Profile
Yueling Li	Head Discipline	Profile

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