AIR CHINA Correlations
| AD2B Stock | EUR 11.50 0.10 0.88% |
The current 90-days correlation between AIR CHINA LTD and RYANAIR HLDGS ADR is 0.23 (i.e., Modest diversification). The correlation of AIR CHINA 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.
AIR CHINA Correlation With Market
Good diversification
The correlation between AIR CHINA LTD 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 AIR CHINA LTD and DJI in the same portfolio, assuming nothing else is changed.
AIR |
The ability to find closely correlated positions to AIR CHINA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AIR CHINA 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 AIR CHINA - 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 AIR CHINA LTD to buy it.
Moving together with AIR Stock
| 0.87 | OYC | Delta Air Lines | PairCorr |
| 0.99 | AD2 | Air China Limited | PairCorr |
| 0.83 | SWN | Southwest Airlines | PairCorr |
| 0.97 | ZNHH | China Southern Airlines | PairCorr |
| 0.81 | RY4C | Ryanair Holdings plc | PairCorr |
| 0.8 | RY4C | Ryanair Holdings plc | PairCorr |
| 0.69 | KBIA | KB Financial Group | PairCorr |
| 0.71 | MFZA | Mitsubishi UFJ Financial | PairCorr |
| 0.81 | EK7 | AGRICUL BK CHINA | PairCorr |
| 0.87 | UN3 | United Natural Foods | PairCorr |
Moving against AIR Stock
| 0.71 | ECHA | Ecopetrol SA | PairCorr |
| 0.71 | ECHA | Ecopetrol SA | PairCorr |
| 0.66 | HYU | Hyundai Motor | PairCorr |
| 0.66 | HYU | Hyundai Motor | PairCorr |
| 0.63 | HYU | Hyundai Motor | PairCorr |
| 0.57 | DBPD | Xtrackers ShortDAX | PairCorr |
Related Correlations Analysis
Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.
Be your own money manager
Our tools can tell you how much better you can do entering a position in AIR CHINA 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.Did you try this?
Run ETF Categories Now
ETF CategoriesList of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |
| All Next | Launch Module |