China Southern Correlations

CHKIF Stock

USD 0.46 0.02 4.55%

The current 90-days correlation between China Southern Airlines and Air China Limited is 0.15 (i.e., Average diversification). The correlation of China Southern 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 Southern Correlation With Market

Significant diversification

The correlation between China Southern Airlines and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Southern Airlines and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China Southern 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 Southern 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 Southern - 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 Southern Airlines to buy it.

Moving together with China Pink Sheet

0.79	AIRYY	Air China	Pair Corr
0.7	LUV	Southwest Airlines Fiscal Year End 23rd of January 2025	Pair Corr
0.62	ZNH	China Southern Airlines	Pair Corr
0.69	SSNLF	Samsung Electronics	Pair Corr
0.65	LLYVK	Liberty Media	Pair Corr

Moving against China Pink Sheet

0.72	BKRKY	Bank Rakyat	Pair Corr
0.69	BKRKF	PT Bank Rakyat	Pair Corr
0.68	PPERY	Bank Mandiri Persero	Pair Corr
0.66	TLK	Telkom Indonesia Tbk	Pair Corr
0.51	PTAIY	Astra International Tbk	Pair Corr
0.51	PPERF	Bank Mandiri Persero	Pair Corr
0.42	DIT	AMCON Distributing	Pair Corr
0.36	CEA	China Eastern Airlines	Pair Corr

Related Correlations Analysis

	CEBUF	FNNNF	EJTTF	NRSAF	ANZFF	AICAF	AFRAF	AIABF
CEBUF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	CEBUF
FNNNF	0.0		-0.04	-0.65	0.54	-0.1	0.62	0.19	FNNNF
EJTTF	0.0	-0.04		-0.19	-0.43	0.58	0.56	0.59	EJTTF
NRSAF	0.0	-0.65	-0.19		-0.29	0.16	-0.74	-0.32	NRSAF
ANZFF	0.0	0.54	-0.43	-0.29		-0.22	0.11	-0.32	ANZFF
AICAF	0.0	-0.1	0.58	0.16	-0.22		0.26	0.2	AICAF
AFRAF	0.0	0.62	0.56	-0.74	0.11	0.26		0.52	AFRAF
AIABF	0.0	0.19	0.59	-0.32	-0.32	0.2	0.52		AIABF
	CEBUF	FNNNF	EJTTF	NRSAF	ANZFF	AICAF	AFRAF	AIABF

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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

AFRAF	+ 0.62	FNNNF
AIABF	+ 0.59	EJTTF
AICAF	+ 0.58	EJTTF
AFRAF	+ 0.56	EJTTF
ANZFF	+ 0.54	FNNNF
AIABF	+ 0.52	AFRAF

High negative correlations

AFRAF	- 0.74	NRSAF
NRSAF	- 0.65	FNNNF
ANZFF	- 0.43	EJTTF
AIABF	- 0.32	ANZFF
AIABF	- 0.32	NRSAF
ANZFF	- 0.29	NRSAF

Risk-Adjusted Indicators

There is a big difference between China Pink Sheet performing well and China Southern 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 Southern'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
CEBUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FNNNF	0.46	(0.09)	0.00	0.51	0.00	0.00	0.00	0.00	19.58
EJTTF	0.68	0.19	0.00	0.89	0.00	0.00	0.00	0.00	29.53
NRSAF	4.10	0.67	0.07	0.60	4.00	(17.76)	13.33	(10.00)	50.00
ANZFF	1.67	(0.06)	0.00	0.29	0.00	0.00	6.06	(8.33)	18.75
AICAF	0.72	0.02	0.00	0.19	0.00	0.00	0.00	0.00	26.51
AFRAF	0.53	(0.06)	0.00	(0.13)	0.00	0.00	0.00	0.00	28.47
AIABF	2.32	0.12	0.01	0.30	3.66	(11.12)	11.11	(9.09)	27.62

Be your own money manager

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

Xulun Ma	Ex Board	Profile
Weihua Chen	General Counsel	Profile
Bing Xie	Secretary of the Board	Profile
Huanan Feng	Chief Safety Officer	Profile
Hailong Zhu	Chief Officer	Profile
Yong Yao	Chief VP	Profile

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