SINOPEC Engineering Correlations
| SENGF Stock | 0.97 0.01 1.02% |
The current 90-days correlation between SINOPEC Engineering and Shimizu is -0.01 (i.e., Good diversification). The correlation of SINOPEC Engineering 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.
SINOPEC Engineering Correlation With Market
Weak diversification
The correlation between SINOPEC Engineering Co and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SINOPEC Engineering Co and DJI in the same portfolio, assuming nothing else is changed.
SINOPEC |
The ability to find closely correlated positions to SINOPEC Engineering could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SINOPEC Engineering 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 SINOPEC Engineering - 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 SINOPEC Engineering Co to buy it.
Moving together with SINOPEC Pink Sheet
| 0.63 | AES | AES Aggressive Push | PairCorr |
| 0.72 | MEGI | MainStay CBRE Global Normal Trading | PairCorr |
| 0.74 | NNRHF | Neinor Homes SA | PairCorr |
| 0.67 | JLHL | Julong Holding | PairCorr |
Moving against SINOPEC Pink Sheet
| 0.65 | AMZN | Amazon Inc | PairCorr |
| 0.54 | MSFT | Microsoft Sell-off Trend | PairCorr |
| 0.47 | PBCRY | Bank Central Asia | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between SINOPEC Pink Sheet performing well and SINOPEC Engineering 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 SINOPEC Engineering'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SHMUF | 1.54 | 0.82 | 0.00 | (0.91) | 0.00 | 0.00 | 51.64 | |||
| IMPJY | 0.83 | (0.06) | 0.00 | (0.38) | 0.00 | 3.20 | 14.67 | |||
| ARCVF | 0.45 | 0.16 | 0.00 | 1.63 | 0.00 | 2.39 | 7.86 | |||
| PUODY | 1.63 | 0.39 | 0.12 | 1.75 | 1.76 | 4.47 | 12.23 | |||
| BFLBF | 0.87 | 0.25 | 0.00 | (2.88) | 0.00 | 0.00 | 15.64 | |||
| ROYMY | 2.48 | 0.06 | 0.00 | 0.16 | 4.39 | 6.44 | 56.48 | |||
| BAFBF | 0.29 | 0.09 | 0.00 | 1.21 | 0.00 | 0.00 | 9.54 | |||
| NWSZF | 0.12 | 0.06 | 0.00 | (0.59) | 0.00 | 0.00 | 4.17 | |||
| BFLBY | 2.83 | 0.59 | 0.11 | 14.99 | 3.31 | 6.64 | 26.92 | |||
| KINUF | 0.30 | 0.00 | 0.00 | 0.06 | 0.00 | 0.00 | 9.95 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in SINOPEC Engineering 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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SINOPEC Engineering Corporate Executives
Elected by the shareholders, the SINOPEC Engineering's board of directors comprises two types of representatives: SINOPEC Engineering inside directors who are chosen from within the company, and outside directors, selected externally and held independent of SINOPEC. The board's role is to monitor SINOPEC Engineering's management team and ensure that shareholders' interests are well served. SINOPEC Engineering'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, SINOPEC Engineering's outside directors are responsible for providing unbiased perspectives on the board's policies.