China Life Correlations

CILJF Stock

USD 4.18 0.23 5.22%

The current 90-days correlation between China Life Insurance and Ping An Insurance is 0.12 (i.e., Average 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

Very poor diversification

The correlation between China Life Insurance and DJI is 0.82 (i.e., Very 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	Pair Corr
0.86	PIAIF	Ping An Insurance	Pair Corr
0.77	AAGIY	AIA Group Normal Trading	Pair Corr
0.65	AAIGF	AIA Group	Pair Corr
0.8	MFC	Manulife Financial Corp	Pair Corr
0.74	ISRMF	iShares MSCI	Pair Corr
0.75	MRLWF	Marlowe Plc	Pair Corr
0.81	KNTK	Kinetik Holdings Earnings Call Next Week	Pair Corr
0.82	GOOD	Gladstone Commercial	Pair Corr
0.84	ELTLF	Elementos Limited	Pair Corr
0.86	MT	ArcelorMittal SA ADR	Pair Corr
0.78	SYANY	Sydbank AS ADR	Pair Corr
0.87	KGC	Kinross Gold Aggressive Push	Pair Corr
0.87	JOE	St Joe Company Earnings Call Tomorrow	Pair Corr
0.85	MDDVF	Medical Developments	Pair Corr
0.83	CET	Central Securities	Pair Corr
0.86	FGMC	FG Merger II	Pair Corr
0.88	PNC	PNC Financial Services	Pair Corr
0.88	BCPC	Balchem	Pair Corr
0.86	EE	Excelerate Energy Earnings Call Next Week	Pair Corr
0.89	JPM-PD	JPMorgan Chase	Pair Corr
0.8	JBLU	JetBlue Airways Corp	Pair Corr
0.72	SBFFF	SBM Offshore NV Earnings Call This Week	Pair Corr

Moving against China Pink Sheet

0.61

MMSI

Merit Medical Systems

Pair Corr

Related Correlations Analysis

	PIAIF	PNGAY	BACHF	ALIZF	CIHHF	NWWCF	CIHKY	BACHY	AAGIY	BCDRF
PIAIF		0.93	-0.15	0.45	0.75	0.86	-0.59	0.28	0.78	0.84	PIAIF
PNGAY	0.93		-0.16	0.58	0.82	0.87	-0.57	0.17	0.78	0.9	PNGAY
BACHF	-0.15	-0.16		-0.19	0.01	-0.18	0.11	0.17	-0.2	-0.04	BACHF
ALIZF	0.45	0.58	-0.19		0.46	0.39	-0.16	-0.21	0.35	0.5	ALIZF
CIHHF	0.75	0.82	0.01	0.46		0.76	-0.56	0.03	0.59	0.85	CIHHF
NWWCF	0.86	0.87	-0.18	0.39	0.76		-0.6	0.12	0.78	0.81	NWWCF
CIHKY	-0.59	-0.57	0.11	-0.16	-0.56	-0.6		-0.05	-0.52	-0.67	CIHKY
BACHY	0.28	0.17	0.17	-0.21	0.03	0.12	-0.05		0.32	0.2	BACHY
AAGIY	0.78	0.78	-0.2	0.35	0.59	0.78	-0.52	0.32		0.75	AAGIY
BCDRF	0.84	0.9	-0.04	0.5	0.85	0.81	-0.67	0.2	0.75		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

PNGAY	+ 0.93	PIAIF
BCDRF	+ 0.9	PNGAY
NWWCF	+ 0.87	PNGAY
NWWCF	+ 0.86	PIAIF
BCDRF	+ 0.85	CIHHF
BCDRF	+ 0.84	PIAIF

High negative correlations

BCDRF	- 0.67	CIHKY
CIHKY	- 0.6	NWWCF
CIHKY	- 0.59	PIAIF
CIHKY	- 0.57	PNGAY
CIHKY	- 0.56	CIHHF
AAGIY	- 0.52	CIHKY

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	2.48	0.34	0.07	2.35	2.71	(3.38)	5.56	(4.76)	24.23
PNGAY	1.32	0.24	0.15	0.54	1.00	(1.59)	3.51	(1.89)	9.68
BACHF	1.99	0.18	0.01	(0.45)	2.80	(4.53)	7.27	(5.17)	20.39
ALIZF	1.59	0.09	0.00	(1.24)	1.74	(1.85)	3.34	(2.92)	9.75
CIHHF	0.57	0.15	0.00	0.64	0.00	0.00	0.00	0.00	20.47
NWWCF	4.08	0.71	0.10	(0.87)	4.08	(6.00)	10.15	(8.96)	28.85
CIHKY	1.01	(0.05)	0.00	(0.32)	0.00	0.00	2.41	(2.01)	5.64
BACHY	0.81	0.03	(0.04)	0.45	1.05	(0.86)	1.56	(1.70)	5.71
AAGIY	1.15	0.06	0.01	0.20	1.27	(1.34)	3.04	(2.72)	8.14
BCDRF	2.45	0.32	0.10	0.48	2.79	(2.78)	4.81	(4.72)	14.54

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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China Life Corporate Management

Tao Bai	Ex Chairman	Profile
Ruan Qi	VP	Profile
Guodong Zhao	Assistant Pres	Profile
Yuejin Liu	Assistant Pres	Profile
Chongmiao Xu	GM Officer	Profile
Mingguang Li	Chief Actuary	Profile

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