China Galaxy Correlations

601881 Stock

13.97 0.32 2.24%

The current 90-days correlation between China Galaxy Securities and Industrial and Commercial is 0.15 (i.e., Average diversification). The correlation of China Galaxy 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 Galaxy Correlation With Market

Modest diversification

The correlation between China Galaxy Securities and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Galaxy Securities and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China Galaxy 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 Galaxy 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 Galaxy - 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 Galaxy Securities to buy it.

Moving together with China Stock

0.82	600519	Kweichow Moutai	Pair Corr
0.77	601318	Ping An Insurance	Pair Corr

Moving against China Stock

0.68	300866	Anker Innovations	Pair Corr
0.6	601988	Bank of China	Pair Corr
0.5	601398	Industrial and Commercial	Pair Corr
0.47	600000	Shanghai Pudong Deve	Pair Corr
0.43	601857	PetroChina	Pair Corr

Related Correlations Analysis

	601398	601288	601939	601988	601658	601328	600036	601166	601998	600000
601398		0.64	0.96	0.97	0.44	0.46	0.72	0.6	0.21	0.77	601398
601288	0.64		0.73	0.67	0.72	0.81	0.29	0.62	0.4	0.27	601288
601939	0.96	0.73		0.92	0.63	0.62	0.59	0.49	0.39	0.64	601939
601988	0.97	0.67	0.92		0.43	0.48	0.68	0.61	0.24	0.72	601988
601658	0.44	0.72	0.63	0.43		0.85	0.0	0.15	0.7	0.07	601658
601328	0.46	0.81	0.62	0.48	0.85		0.02	0.21	0.6	0.08	601328
600036	0.72	0.29	0.59	0.68	0.0	0.02		0.69	-0.18	0.9	600036
601166	0.6	0.62	0.49	0.61	0.15	0.21	0.69		-0.2	0.64	601166
601998	0.21	0.4	0.39	0.24	0.7	0.6	-0.18	-0.2		-0.06	601998
600000	0.77	0.27	0.64	0.72	0.07	0.08	0.9	0.64	-0.06		600000
	601398	601288	601939	601988	601658	601328	600036	601166	601998	600000

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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

601988	+ 0.97	601398
601939	+ 0.96	601398
601988	+ 0.92	601939
600000	+ 0.9	600036
601328	+ 0.85	601658
601328	+ 0.81	601288

High negative correlations

601998	- 0.2	601166
601998	- 0.18	600036
600000	- 0.06	601998
600036	- 0.0	601658

Risk-Adjusted Indicators

There is a big difference between China Stock performing well and China Galaxy 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 Galaxy'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
601398	0.96	0.18	0.10	(4.76)	0.92	(1.22)	2.36	(1.68)	6.36
601288	0.91	0.12	0.02	(0.36)	1.25	(0.94)	2.20	(1.58)	7.85
601939	0.96	0.10	0.02	(0.90)	0.96	(1.22)	2.05	(1.91)	4.13
601988	0.93	0.18	0.09	(1.86)	0.93	(1.19)	2.64	(1.89)	5.62
601658	1.05	(0.01)	0.00	0.18	0.00	0.00	2.05	(2.15)	8.59
601328	1.05	(0.01)	0.00	0.12	0.00	0.00	2.39	(2.02)	5.89
600036	0.95	0.05	(0.02)	(0.33)	1.27	(0.98)	2.14	(2.01)	6.25
601166	0.93	0.09	0.01	(2.26)	1.22	(0.95)	1.66	(2.25)	6.36
601998	1.10	(0.05)	0.00	0.68	0.00	0.00	2.58	(2.37)	5.61
600000	1.10	0.06	0.00	1.10	1.38	(1.17)	2.79	(2.47)	6.93

China Galaxy Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with China Galaxy stock to make a market-neutral strategy. Peer analysis of China Galaxy could also be used in its relative valuation, which is a method of valuing China Galaxy by comparing valuation metrics with similar companies.

Industrial and Commercial Agricultural Bank of China Construction Bank Bank of China Postal Savings Bank Bank of Communications China Merchants Bank Industrial Bank Co China Citic Bank Shanghai Pudong Development American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

China Galaxy Corporate Management

Elected by the shareholders, the China Galaxy's board of directors comprises two types of representatives: China Galaxy 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 Galaxy's management team and ensure that shareholders' interests are well served. China Galaxy'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 Galaxy's outside directors are responsible for providing unbiased perspectives on the board's policies.

Liming Luo	VP Officer	Profile
Xianglin Li	VP	Profile
Pengfei Du	GM Sec	Profile
Bing Liu	Business Board	Profile
ACS ACIS	Company Secretary	Profile

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