BANK OF CHINA Correlations

W8V Stock

EUR 0.49 0.01 2.08%

The correlation of BANK OF CHINA 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.

BANK OF CHINA Correlation With Market

Very good diversification

The correlation between BANK OF CHINA and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BANK OF CHINA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BANK Stock

0.75	APC	Apple Inc	Pair Corr
0.75	APC	Apple Inc	Pair Corr
0.75	APC	Apple Inc	Pair Corr
0.74	APC	Apple Inc	Pair Corr
0.75	APC	Apple Inc	Pair Corr
0.74	APC	Apple Inc	Pair Corr
0.62	MSF	Microsoft	Pair Corr
0.61	MSF	Microsoft	Pair Corr
0.62	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.64	DBPE	Xtrackers LevDAX	Pair Corr

Moving against BANK Stock

0.63	BUU	DevEx Resources	Pair Corr
0.61	DBPD	Xtrackers ShortDAX	Pair Corr
0.51	GSR	Gossan Resources	Pair Corr

Related Correlations Analysis

	DVY	WN6	3EAG	LB3C	9EV	SQE	FOO0	DVY
DVY		0.5	-0.54	-0.81	0.75	0.91	0.86	0.99	DVY
WN6	0.5		-0.01	-0.33	0.32	0.66	0.59	0.51	WN6
3EAG	-0.54	-0.01		0.69	-0.3	-0.28	-0.34	-0.57	3EAG
LB3C	-0.81	-0.33	0.69		-0.57	-0.67	-0.63	-0.84	LB3C
9EV	0.75	0.32	-0.3	-0.57		0.76	0.79	0.74	9EV
SQE	0.91	0.66	-0.28	-0.67	0.76		0.9	0.9	SQE
FOO0	0.86	0.59	-0.34	-0.63	0.79	0.9		0.85	FOO0
DVY	0.99	0.51	-0.57	-0.84	0.74	0.9	0.85		DVY
	DVY	WN6	3EAG	LB3C	9EV	SQE	FOO0	DVY

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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

DVY	+ 0.99	DVY
SQE	+ 0.91	DVY
FOO0	+ 0.9	SQE
DVY	+ 0.9	SQE
FOO0	+ 0.86	DVY
DVY	+ 0.85	FOO0

High negative correlations

DVY	- 0.84	LB3C
LB3C	- 0.81	DVY
SQE	- 0.67	LB3C
FOO0	- 0.63	LB3C
9EV	- 0.57	LB3C
DVY	- 0.57	3EAG

Risk-Adjusted Indicators

There is a big difference between BANK Stock performing well and BANK OF CHINA 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 BANK OF CHINA'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
DVY	1.58	0.45	0.23	1.61	1.41	(2.26)	3.77	(2.33)	16.73
WN6	1.18	(0.03)	0.00	(0.13)	0.00	0.00	2.73	(2.42)	6.56
3EAG	1.32	(0.22)	0.00	1.93	0.00	0.00	2.56	(2.44)	7.45
LB3C	3.61	(0.33)	0.00	0.23	0.00	0.00	6.94	(8.02)	24.99
9EV	0.10	0.04	0.00	(1.61)	0.00	0.00	0.00	0.00	3.33
SQE	1.25	0.10	0.06	(0.33)	1.29	(1.70)	2.67	(2.49)	10.93
FOO0	1.94	0.34	0.14	15.04	2.00	(2.56)	4.03	(3.73)	24.18
DVY	1.75	0.47	0.22	(7.41)	1.61	(2.48)	3.82	(3.01)	18.44

Be your own money manager

Our tools can tell you how much better you can do entering a position in BANK OF CHINA 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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