Hong Kong Correlations

HK2C Stock

EUR 39.50 3.54 9.84%

The current 90-days correlation between Hong Kong Exchanges and Ares Management Corp is -0.04 (i.e., Good diversification). The correlation of Hong Kong 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.

Hong Kong Correlation With Market

Good diversification

The correlation between Hong Kong Exchanges and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hong Kong Exchanges and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hong Kong could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hong Kong 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 Hong Kong - 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 Hong Kong Exchanges to buy it.

Moving against Hong Stock

0.57	DBPD	Xtrackers ShortDAX	Pair Corr
0.56	BYRA	PT Bank Rakyat	Pair Corr
0.51	BYRA	BANK RAKYAT IND	Pair Corr
0.49	BYRA	BANK RAKYAT IND	Pair Corr
0.47	PQ9	BANK MANDIRI	Pair Corr
0.46	PQ9	BANK MANDIRI	Pair Corr
0.39	PQ9	PT Bank Mandiri	Pair Corr
0.31	BYRA	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	0QN	4JF	BKHT	A3J	1C6	I8M	SXC
0QN		-0.16	-0.76	0.89	0.65	0.74	0.73	0QN
4JF	-0.16		0.3	-0.17	0.13	0.18	0.12	4JF
BKHT	-0.76	0.3		-0.66	-0.72	-0.45	-0.81	BKHT
A3J	0.89	-0.17	-0.66		0.58	0.82	0.73	A3J
1C6	0.65	0.13	-0.72	0.58		0.47	0.83	1C6
I8M	0.74	0.18	-0.45	0.82	0.47		0.63	I8M
SXC	0.73	0.12	-0.81	0.73	0.83	0.63		SXC
	0QN	4JF	BKHT	A3J	1C6	I8M	SXC

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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

A3J	+ 0.89	0QN
SXC	+ 0.83	1C6
I8M	+ 0.82	A3J
I8M	+ 0.74	0QN
SXC	+ 0.73	0QN
SXC	+ 0.73	A3J

High negative correlations

SXC	- 0.81	BKHT
BKHT	- 0.76	0QN
1C6	- 0.72	BKHT
A3J	- 0.66	BKHT
I8M	- 0.45	BKHT
A3J	- 0.17	4JF

Risk-Adjusted Indicators

There is a big difference between Hong Stock performing well and Hong Kong 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 Hong Kong'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
0QN	1.53	0.39	0.23	0.51	1.27	(1.91)	4.21	(2.11)	12.65
4JF	1.40	0.16	0.01	(0.49)	1.40	(2.15)	3.03	(2.94)	9.36
BKHT	1.64	(0.29)	0.00	2.85	0.00	0.00	3.57	(5.16)	12.53
A3J	1.57	0.53	0.20	8.43	1.29	(2.20)	3.70	(2.75)	10.56
1C6	2.01	0.39	0.08	(6.20)	2.79	(2.40)	4.73	(4.03)	17.13
I8M	1.73	0.20	0.13	0.26	1.58	(2.28)	3.87	(2.52)	16.34
SXC	2.83	0.68	0.17	4.40	3.01	(3.53)	6.52	(4.72)	20.55

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hong Kong 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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Hong Kong Corporate Management

Elected by the shareholders, the Hong Kong's board of directors comprises two types of representatives: Hong Kong inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hong. The board's role is to monitor Hong Kong's management team and ensure that shareholders' interests are well served. Hong Kong's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Hong Kong's outside directors are responsible for providing unbiased perspectives on the board's policies.

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