Shengkai Innovations Correlations
| VALV Stock | USD 0.0001 0.00 0.00% |
The correlation of Shengkai Innovations 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Shengkai |
The ability to find closely correlated positions to Shengkai Innovations could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shengkai Innovations 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 Shengkai Innovations - 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 Shengkai Innovations to buy it.
Moving together with Shengkai Pink Sheet
| 0.7 | CSCO | Cisco Systems | PairCorr |
| 0.75 | MMM | 3M Company | PairCorr |
| 0.69 | DD | Dupont De Nemours | PairCorr |
| 0.82 | KO | Coca Cola | PairCorr |
| 0.75 | CAT | Caterpillar | PairCorr |
| 0.68 | BAC | Bank of America | PairCorr |
Moving against Shengkai Pink Sheet
| 0.62 | T | ATT Inc | PairCorr |
| 0.47 | HCMC | Healthier Choices | PairCorr |
| 0.45 | MSFT | Microsoft | PairCorr |
| 0.37 | PG | Procter Gamble | PairCorr |
| 0.35 | VZ | Verizon Communications | PairCorr |
| 0.32 | CMWCF | Cromwell Property | 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Shengkai Pink Sheet performing well and Shengkai Innovations 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 Shengkai Innovations' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TRITF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CIWT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ATTOF | 2.98 | 1.80 | 0.00 | (0.29) | 0.00 | 0.00 | 100.00 | |||
| WLOLQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ASPW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| KARE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AIFM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TRUL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AMGY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AFIIQ | 28.31 | 10.79 | 0.16 | (0.37) | 18.96 | 100.00 | 480.00 |
Be your own money manager
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Shengkai Innovations Corporate Executives
Elected by the shareholders, the Shengkai Innovations' board of directors comprises two types of representatives: Shengkai Innovations inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shengkai. The board's role is to monitor Shengkai Innovations' management team and ensure that shareholders' interests are well served. Shengkai Innovations' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Shengkai Innovations' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Linbin Zhang | Interim CFO and Treasury Manager | Profile |