China Life Correlations

CILJF Stock

USD 4.38 0.13 2.88%

The current 90-days correlation between China Life Insurance and Ping An Insurance is -0.03 (i.e., Good diversification). The correlation of China Life 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 Life Correlation With Market

Poor diversification

The correlation between China Life Insurance and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Life Insurance and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China Life 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 Life 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 Life - 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 Life Insurance to buy it.

Moving together with China Pink Sheet

0.87	PNGAY	Ping An Insurance Normal Trading	Pair Corr
0.83	PIAIF	Ping An Insurance Normal Trading	Pair Corr
0.79	AAGIY	AIA Group Normal Trading	Pair Corr
0.67	AAIGF	AIA Group	Pair Corr
0.87	MFC	Manulife Financial Corp	Pair Corr
0.86	FTAI	FTAI Aviation	Pair Corr
0.92	ARRJF	Arjo AB	Pair Corr
0.68	AXIA	AXIA Energia Symbol Change	Pair Corr
0.72	ACN	Accenture plc	Pair Corr
0.73	FNCHF	FINEOSHoldings Plc	Pair Corr
0.69	LILIF	Argentina Lithium Energy	Pair Corr
0.93	KGC	Kinross Gold	Pair Corr
0.73	CZNC	Citizens Northern Corp Normal Trading	Pair Corr
0.81	LSBK	Lake Shore Bancorp	Pair Corr
0.87	GPHOF	Graphite One	Pair Corr

Moving against China Pink Sheet

0.87	PBCRY	Bank Central Asia	Pair Corr
0.43	PBCRF	PT Bank Central	Pair Corr
0.33	BKRKF	PT Bank Rakyat	Pair Corr
0.66	ATMV	ATMV Old Symbol Change	Pair Corr

Related Correlations Analysis

	PIAIF	PNGAY	BACHF	ALIZF	CIHHF	NWWCF	CIHKY	BACHY	AAGIY	BCDRF
PIAIF		0.89	-0.25	0.61	0.7	0.88	-0.41	0.03	0.71	0.83	PIAIF
PNGAY	0.89		-0.27	0.71	0.78	0.9	-0.39	-0.03	0.78	0.91	PNGAY
BACHF	-0.25	-0.27		-0.2	-0.1	-0.23	0.1	0.03	-0.24	-0.15	BACHF
ALIZF	0.61	0.71	-0.2		0.8	0.66	-0.04	-0.1	0.41	0.69	ALIZF
CIHHF	0.7	0.78	-0.1	0.8		0.74	-0.06	0.17	0.61	0.8	CIHHF
NWWCF	0.88	0.9	-0.23	0.66	0.74		-0.39	0.04	0.71	0.85	NWWCF
CIHKY	-0.41	-0.39	0.1	-0.04	-0.06	-0.39		0.28	-0.19	-0.41	CIHKY
BACHY	0.03	-0.03	0.03	-0.1	0.17	0.04	0.28		0.43	0.09	BACHY
AAGIY	0.71	0.78	-0.24	0.41	0.61	0.71	-0.19	0.43		0.76	AAGIY
BCDRF	0.83	0.91	-0.15	0.69	0.8	0.85	-0.41	0.09	0.76		BCDRF
	PIAIF	PNGAY	BACHF	ALIZF	CIHHF	NWWCF	CIHKY	BACHY	AAGIY	BCDRF

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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

BCDRF	+ 0.91	PNGAY
NWWCF	+ 0.9	PNGAY
PNGAY	+ 0.89	PIAIF
NWWCF	+ 0.88	PIAIF
BCDRF	+ 0.85	NWWCF
BCDRF	+ 0.83	PIAIF

High negative correlations

BCDRF	- 0.41	CIHKY
CIHKY	- 0.41	PIAIF
CIHKY	- 0.39	NWWCF
CIHKY	- 0.39	PNGAY
BACHF	- 0.27	PNGAY
BACHF	- 0.25	PIAIF

Risk-Adjusted Indicators

There is a big difference between China Pink Sheet performing well and China Life 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 Life'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
PIAIF	2.35	0.55	0.14	(1.41)	2.04	(3.89)	6.21	(4.69)	19.20
PNGAY	1.26	0.37	0.29	0.62	0.82	(1.56)	3.10	(1.68)	9.68
BACHF	2.43	0.11	0.01	0.34	3.31	(4.34)	7.27	(6.90)	20.39
ALIZF	1.59	0.03	(0.01)	(0.72)	1.73	(1.91)	3.57	(2.84)	8.51
CIHHF	0.57	0.17	0.00	1.03	0.00	0.00	0.00	0.00	20.47
NWWCF	3.52	0.76	0.12	(6.93)	3.45	(6.54)	10.15	(8.37)	28.85
CIHKY	1.02	(0.05)	0.00	(0.53)	0.00	0.00	2.21	(2.45)	5.78
BACHY	0.84	0.11	0.07	1.01	1.01	(0.92)	1.88	(1.45)	5.91
AAGIY	1.33	0.29	0.21	0.45	1.08	(1.71)	4.12	(2.03)	8.39
BCDRF	2.19	0.41	0.14	0.47	2.59	(2.40)	4.39	(4.30)	13.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in China Life 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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Tao Bai	Ex Chairman	Profile
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