Jinhui Shipping Correlations
| JIN Stock | NOK 6.04 0.34 5.96% |
The current 90-days correlation between Jinhui Shipping and Golden Ocean Group is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Jinhui Shipping moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jinhui Shipping and moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Jinhui Shipping Correlation With Market
Significant diversification
The correlation between Jinhui Shipping and and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jinhui Shipping and and DJI in the same portfolio, assuming nothing else is changed.
Jinhui |
The ability to find closely correlated positions to Jinhui Shipping could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jinhui Shipping 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 Jinhui Shipping - 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 Jinhui Shipping and to buy it.
Moving together with Jinhui Stock
Moving against Jinhui Stock
| 0.58 | MING | Sparebank 1 SMN | PairCorr |
| 0.42 | ALT | Alternus Energy Group | PairCorr |
| 0.37 | DNB | DnB ASA Earnings Call This Week | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Jinhui Stock performing well and Jinhui Shipping 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 Jinhui Shipping'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GOGL | 1.66 | (0.14) | 0.00 | (0.77) | 0.00 | 3.35 | 12.55 | |||
| FRO | 2.30 | (0.04) | 0.00 | 0.14 | 0.00 | 5.59 | 16.98 | |||
| DNORD | 1.79 | (0.20) | 0.00 | 0.50 | 0.00 | 3.99 | 11.64 | |||
| BWLPG | 1.88 | 0.03 | (0.01) | 0.44 | 2.37 | 4.33 | 11.76 | |||
| SNI | 1.86 | (0.09) | 0.00 | 0.85 | 0.00 | 3.23 | 13.50 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Jinhui Shipping 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?
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Jinhui Shipping Corporate Management
Elected by the shareholders, the Jinhui Shipping's board of directors comprises two types of representatives: Jinhui Shipping inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Jinhui. The board's role is to monitor Jinhui Shipping's management team and ensure that shareholders' interests are well served. Jinhui Shipping'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, Jinhui Shipping's outside directors are responsible for providing unbiased perspectives on the board's policies.