China TowerLimited Correlations

CHWRF Stock

USD 0.13 0.00 0.00%

The current 90-days correlation between China TowerLimited and Singapore Telecommunications Limited is -0.13 (i.e., Good diversification). The correlation of China TowerLimited 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 TowerLimited Correlation With Market

Very good diversification

The correlation between China Tower and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Tower and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China TowerLimited 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 TowerLimited 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 TowerLimited - 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 Tower to buy it.

Moving together with China Pink Sheet

0.64	CMCSA	Comcast Corp Sell-off Trend	Pair Corr
0.66	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.68	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.7	HPQ	HP Inc	Pair Corr

Moving against China Pink Sheet

0.71	DTEGY	Deutsche Telekom	Pair Corr
0.66	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.6	KO	Coca Cola Aggressive Push	Pair Corr
0.55	NPPXF	Nippon Telegraph Tel	Pair Corr
0.53	PG	Procter Gamble	Pair Corr
0.49	AMIX	Autonomix Medical, Common	Pair Corr
0.45	KDDIF	KDDI Corp	Pair Corr
0.45	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.35	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	SNGNF	VODPF	PTITF	COMS	TLSNF	KDDIF	AMXOF	ASEJF	AAFRF
SNGNF		0.61	0.0	-0.2	-0.11	0.21	-0.1	0.42	0.37	SNGNF
VODPF	0.61		0.0	0.23	-0.64	0.57	0.27	0.01	0.53	VODPF
PTITF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	PTITF
COMS	-0.2	0.23	0.0		-0.49	0.53	0.3	-0.38	0.26	COMS
TLSNF	-0.11	-0.64	0.0	-0.49		-0.65	-0.43	0.46	-0.43	TLSNF
KDDIF	0.21	0.57	0.0	0.53	-0.65		0.27	-0.19	0.3	KDDIF
AMXOF	-0.1	0.27	0.0	0.3	-0.43	0.27		-0.54	0.43	AMXOF
ASEJF	0.42	0.01	0.0	-0.38	0.46	-0.19	-0.54		-0.27	ASEJF
AAFRF	0.37	0.53	0.0	0.26	-0.43	0.3	0.43	-0.27		AAFRF
	SNGNF	VODPF	PTITF	COMS	TLSNF	KDDIF	AMXOF	ASEJF	AAFRF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

VODPF	+ 0.61	SNGNF
KDDIF	+ 0.57	VODPF
AAFRF	+ 0.53	VODPF
KDDIF	+ 0.53	COMS
ASEJF	+ 0.46	TLSNF
AAFRF	+ 0.43	AMXOF

High negative correlations

KDDIF	- 0.65	TLSNF
TLSNF	- 0.64	VODPF
ASEJF	- 0.54	AMXOF
TLSNF	- 0.49	COMS
AAFRF	- 0.43	TLSNF
AMXOF	- 0.43	TLSNF

Risk-Adjusted Indicators

There is a big difference between China Pink Sheet performing well and China TowerLimited 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 TowerLimited'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SNGNF	1.13	0.09	0.53	2.00	(4.26)	4.55	(3.73)	21.20
VODPF	1.66	(0.13)	0.84	0.00	0.00	3.45	(5.66)	27.67
PTITF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COMS	2.59	(0.19)	(9.54)	0.00	0.00	3.98	(5.79)	26.52
TLSNF	0.66	0.28	4.93	0.00	0.00	0.00	0.00	25.04
KDDIF	1.63	(0.16)	(0.49)	0.00	0.00	4.42	(6.58)	20.31
AMXOF	7.22	0.03	0.05	0.00	0.00	20.51	(17.65)	43.19
ASEJF	0.96	0.33	(2.31)	0.00	0.00	4.00	0.00	17.04
AAFRF	1.99	(0.31)	(0.29)	0.00	0.00	5.65	(5.69)	26.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in China TowerLimited 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 Portfolio Holdings Now

Portfolio Holdings

Check your current holdings and cash postion to detemine if your portfolio needs rebalancing

All Next

Launch Module

China TowerLimited Corporate Management

Jingbao Zhao	Deputy Mang	Profile
Edgar Fu	Investor Director	Profile
ACS ACIS	Company Sec	Profile
Xiaomin Gu	Deputy General Manager	Profile
Shaofeng Hu	Chief Accountant	Profile
Chunlei Gao	Chief Accountant	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC