PetroChina Correlations

601857 Stock

8.11 0.02 0.25%

The current 90-days correlation between PetroChina and Zhejiang Kingland Pipeline is 0.35 (i.e., Weak diversification). The correlation of PetroChina 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.

PetroChina Correlation With Market

Good diversification

The correlation between PetroChina Co Ltd and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PetroChina Co Ltd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against PetroChina Stock

0.31

300071

Spearhead Integrated

Pair Corr

Related Correlations Analysis

	002443	600307	002526	300261	300058	002855	300590	300076	002096	000692
002443		0.74	0.8	0.8	0.79	0.78	0.94	0.87	0.88	0.68	002443
600307	0.74		0.93	0.93	0.85	0.88	0.8	0.92	0.72	0.93	600307
002526	0.8	0.93		0.95	0.9	0.92	0.89	0.92	0.8	0.95	002526
300261	0.8	0.93	0.95		0.85	0.87	0.87	0.94	0.79	0.92	300261
300058	0.79	0.85	0.9	0.85		0.94	0.87	0.89	0.82	0.87	300058
002855	0.78	0.88	0.92	0.87	0.94		0.87	0.91	0.84	0.89	002855
300590	0.94	0.8	0.89	0.87	0.87	0.87		0.92	0.91	0.76	300590
300076	0.87	0.92	0.92	0.94	0.89	0.91	0.92		0.85	0.87	300076
002096	0.88	0.72	0.8	0.79	0.82	0.84	0.91	0.85		0.7	002096
000692	0.68	0.93	0.95	0.92	0.87	0.89	0.76	0.87	0.7		000692
	002443	600307	002526	300261	300058	002855	300590	300076	002096	000692

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Risk-Adjusted Indicators

There is a big difference between PetroChina Stock performing well and PetroChina 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 PetroChina'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
002443	1.71	0.21	0.08	0.38	1.80	(2.04)	3.82	(3.68)	14.84
600307	2.49	0.66	0.16	(1.34)	2.83	(3.20)	9.56	(3.51)	19.98
002526	2.29	0.33	0.09	2.74	2.68	(2.65)	5.06	(4.12)	18.60
300261	3.51	0.63	0.10	(0.69)	4.06	(3.84)	12.80	(6.69)	30.23
300058	3.38	1.22	0.25	15.52	3.19	(3.80)	15.34	(5.23)	29.95
002855	3.58	0.91	0.20	(1.32)	3.43	(4.20)	9.98	(5.00)	20.02
300590	3.34	0.63	0.13	5.64	3.67	(3.95)	5.96	(5.06)	36.78
300076	3.93	1.10	0.19	(3.42)	4.31	(4.41)	9.16	(5.29)	32.41
002096	2.18	0.23	0.06	1.72	2.43	(2.36)	5.57	(3.86)	13.27
000692	2.36	0.41	0.09	(0.34)	2.48	(2.77)	7.18	(4.16)	17.12

Be your own money manager

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

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

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