Qingdao Haier Correlations
| 690D Stock | 1.76 0.01 0.57% |
The current 90-days correlation between Qingdao Haier and Qingdao Haier Co is 0.49 (i.e., Very weak diversification). The correlation of Qingdao Haier 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.
Qingdao Haier Correlation With Market
Good diversification
The correlation between Qingdao Haier Co 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 Qingdao Haier Co and DJI in the same portfolio, assuming nothing else is changed.
Qingdao |
The ability to find closely correlated positions to Qingdao Haier could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Qingdao Haier 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 Qingdao Haier - 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 Qingdao Haier Co to buy it.
Moving together with Qingdao Stock
| 0.98 | 690D | Qingdao Haier | PairCorr |
| 0.61 | ALV | Allianz SE | PairCorr |
| 0.69 | SIX2 | Sixt SE | PairCorr |
| 0.75 | DBPE | Xtrackers LevDAX | PairCorr |
| 0.66 | E908 | Lyxor 1 | PairCorr |
Moving against Qingdao Stock
| 0.81 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.69 | SSU | Samsung Electronics | PairCorr |
| 0.68 | SSU | Samsung Electronics | PairCorr |
| 0.62 | SSUN | Samsung Electronics | PairCorr |
| 0.6 | SSUN | Samsung Electronics | PairCorr |
| 0.55 | TCID | Telkom Indonesia Tbk | PairCorr |
| 0.49 | ECHA | Ecopetrol SA | PairCorr |
| 0.44 | PTI | Perusahaan Perseroan | PairCorr |
| 0.38 | TCID | Telkom Indonesia Tbk | PairCorr |
| 0.37 | TCID | Telkom Indonesia Tbk | PairCorr |
Related Correlations Analysis
| 0.98 | 0.53 | 0.23 | -0.23 | 690D | ||
| 0.98 | 0.5 | 0.24 | -0.21 | 690D | ||
| 0.53 | 0.5 | -0.08 | 0.13 | GRB | ||
| 0.23 | 0.24 | -0.08 | 0.31 | DLN | ||
| -0.23 | -0.21 | 0.13 | 0.31 | 4KK1 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Qingdao Stock performing well and Qingdao Haier 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 Qingdao Haier'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 690D | 1.25 | 0.23 | 0.06 | (3.16) | 1.13 | 3.97 | 9.83 | |||
| 690D | 1.59 | 0.16 | 0.04 | 0.56 | 1.68 | 4.55 | 13.03 | |||
| GRB | 1.11 | (0.06) | 0.00 | 0.55 | 0.00 | 2.29 | 9.02 | |||
| DLN | 1.26 | (0.03) | 0.00 | (0.12) | 0.00 | 2.89 | 10.15 | |||
| 4KK1 | 1.65 | (0.09) | (0.06) | 0.01 | 2.09 | 5.05 | 12.88 |
Be your own money manager
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Qingdao Haier Corporate Management
Elected by the shareholders, the Qingdao Haier's board of directors comprises two types of representatives: Qingdao Haier inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Qingdao. The board's role is to monitor Qingdao Haier's management team and ensure that shareholders' interests are well served. Qingdao Haier'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, Qingdao Haier's outside directors are responsible for providing unbiased perspectives on the board's policies.