China Medicine Correlations
| CHME Stock | USD 0.0002 0.00 0.00% |
The current 90-days correlation between China Medicine and AmerisourceBergen is -0.1 (i.e., Good diversification). The correlation of China Medicine 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 Medicine Correlation With Market
Good diversification
The correlation between China Medicine and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Medicine and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to China Medicine 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 Medicine 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 Medicine - 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 Medicine to buy it.
Moving together with China Pink Sheet
| 0.66 | PTAIF | PT Astra International | PairCorr |
| 0.71 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.74 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.76 | WMT | Walmart Aggressive Push | PairCorr |
| 0.78 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.67 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.74 | CVX | Chevron Corp Sell-off Trend | PairCorr |
Moving against China Pink Sheet
| 0.88 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.85 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.84 | BKRKY | Bank Rakyat | PairCorr |
| 0.83 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.71 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.64 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.62 | PBCRY | Bank Central Asia | PairCorr |
| 0.62 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
| 0.55 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.39 | PTAIY | Astra International Tbk | PairCorr |
Related Correlations Analysis
| 0.69 | 0.3 | -0.82 | -0.13 | ABC | ||
| 0.69 | 0.24 | -0.58 | -0.24 | CAH | ||
| 0.3 | 0.24 | -0.07 | 0.29 | HSIC | ||
| -0.82 | -0.58 | -0.07 | 0.49 | OMI | ||
| -0.13 | -0.24 | 0.29 | 0.49 | PDCO | ||
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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 China Pink Sheet performing well and China Medicine 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 Medicine'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ABC | 0.65 | 0.22 | 0.13 | 5.49 | 0.37 | 1.43 | 3.75 | |||
| CAH | 1.03 | 0.07 | 0.02 | 0.25 | 1.15 | 2.12 | 10.66 | |||
| HSIC | 1.25 | 0.09 | 0.01 | 0.36 | 1.29 | 3.24 | 8.94 | |||
| OMI | 2.76 | (0.54) | 0.00 | (0.06) | 0.00 | 7.92 | 21.58 | |||
| PDCO | 1.54 | (0.19) | 0.00 | (0.03) | 0.00 | 3.63 | 8.17 |
Be your own money manager
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China Medicine Corporate Management
| Minhua Liu | Executive VP and Secretary | Profile | |
| Gavin Chen | Assistant Officer | Profile | |
| Huizhen Yu | Controller | Profile | |
| Ho Fung | Chief Officer | Profile |