Chahua Modern Correlations

603615 Stock

23.68 0.17 0.71%

The current 90-days correlation between Chahua Modern Housewares and Guangdong Qunxing Toys is 0.19 (i.e., Average diversification). The correlation of Chahua Modern 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.

Chahua Modern Correlation With Market

Good diversification

The correlation between Chahua Modern Housewares and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chahua Modern Housewares and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Chahua Stock

0.7	600519	Kweichow Moutai	Pair Corr
0.91	300750	Contemporary Amperex	Pair Corr
0.82	002594	BYD Co	Pair Corr
0.84	200596	Anhui Gujing Distillery	Pair Corr
0.75	000596	Anhui Gujing Distillery	Pair Corr
0.92	002371	NAURA Technology	Pair Corr
0.73	300760	Shenzhen Mindray Bio	Pair Corr

Related Correlations Analysis

	002575	002935	000609	600110	508019	000638	002173
002575		0.96	0.68	0.84	-0.91	0.85	0.81	002575
002935	0.96		0.65	0.86	-0.85	0.87	0.84	002935
000609	0.68	0.65		0.84	-0.67	0.87	0.86	000609
600110	0.84	0.86	0.84		-0.8	0.91	0.92	600110
508019	-0.91	-0.85	-0.67	-0.8		-0.76	-0.72	508019
000638	0.85	0.87	0.87	0.91	-0.76		0.98	000638
002173	0.81	0.84	0.86	0.92	-0.72	0.98		002173
	002575	002935	000609	600110	508019	000638	002173

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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

002173	+ 0.98	000638
002935	+ 0.96	002575
002173	+ 0.92	600110
000638	+ 0.91	600110
000638	+ 0.87	002935
000638	+ 0.87	000609

High negative correlations

508019	- 0.91	002575
508019	- 0.85	002935
508019	- 0.8	600110
000638	- 0.76	508019
002173	- 0.72	508019
508019	- 0.67	000609

Risk-Adjusted Indicators

There is a big difference between Chahua Stock performing well and Chahua Modern 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 Chahua Modern'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
002575	2.56	0.74	0.17	59.00	3.25	(2.89)	6.93	(6.01)	16.84
002935	2.50	0.47	0.10	(1.16)	2.86	(2.65)	7.09	(5.95)	17.43
000609	2.88	0.59	0.14	13.28	2.85	(3.38)	5.18	(5.10)	10.39
600110	3.21	0.68	0.15	6.41	3.47	(3.70)	9.97	(5.35)	19.66
508019	0.50	(0.11)	0.00	0.63	0.00	0.00	0.88	(0.87)	3.41
000638	2.63	0.81	0.19	(0.84)	2.89	(3.00)	6.42	(4.38)	18.86
002173	2.83	0.57	0.11	(3.41)	3.82	(2.88)	6.93	(5.62)	19.23

Be your own money manager

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

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

Hongqian Ye	Deputy Manager	Profile
Zhenkun Tang	Deputy Manager	Profile
Zhihai Chen	Deputy Manager	Profile
Jie Lin	Chief Officer	Profile

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