BANK OCHINA Correlations

W8VS Stock

EUR 12.10 0.10 0.83%

The current 90-days correlation between BANK OCHINA H and INDCOMMBK CHINA ADR20 is 0.19 (i.e., Average diversification). The correlation of BANK OCHINA 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.

BANK OCHINA Correlation With Market

Average diversification

The correlation between BANK OCHINA H and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BANK OCHINA H and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BANK OCHINA 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 OCHINA 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 OCHINA - 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 OCHINA H to buy it.

Moving together with BANK Stock

0.95	ICKB	INDCOMMBK CHINA ADR20	Pair Corr
0.92	ICK	Industrial and Commercial	Pair Corr
0.91	C6TB	CHINA BANK ADR20	Pair Corr
0.92	EK7A	AGRICULTBK HADR25	Pair Corr
0.78	BZZ	Bank of Montreal	Pair Corr
0.64	BSDK	Banco Santander SA	Pair Corr
0.69	WMT	Walmart	Pair Corr
0.69	WMT	Walmart	Pair Corr
0.8	AMZ	Amazon Inc	Pair Corr
0.8	AMZ	Amazon Inc	Pair Corr
0.75	VOWB	VOLKSWAGEN AG VZ	Pair Corr
0.79	VOW3	Volkswagen AG VZO	Pair Corr
0.79	VOW3	Volkswagen AG	Pair Corr
0.72	VOW	Volkswagen AG	Pair Corr
0.92	HBC2	HSBC Holdings plc	Pair Corr
0.76	ASME	ASML Holding NV	Pair Corr
0.8	E908	Lyxor 1	Pair Corr
0.86	DBPE	Xtrackers LevDAX	Pair Corr

Moving against BANK Stock

0.85	DBPD	Xtrackers ShortDAX	Pair Corr
0.81	HHP2	Hon Hai Precision	Pair Corr

Related Correlations Analysis

	ICKB	ICK	C6TB	EK7A	W8VS	CWW0	TDB	BZZ	BSDK
ICKB		0.9	0.87	0.9	0.95	0.17	0.54	0.7	0.61	ICKB
ICK	0.9		0.78	0.87	0.92	0.14	0.63	0.67	0.6	ICK
C6TB	0.87	0.78		0.86	0.91	0.21	0.35	0.76	0.57	C6TB
EK7A	0.9	0.87	0.86		0.92	0.31	0.37	0.81	0.45	EK7A
W8VS	0.95	0.92	0.91	0.92		0.21	0.53	0.78	0.64	W8VS
CWW0	0.17	0.14	0.21	0.31	0.21		0.19	0.67	0.07	CWW0
TDB	0.54	0.63	0.35	0.37	0.53	0.19		0.37	0.52	TDB
BZZ	0.7	0.67	0.76	0.81	0.78	0.67	0.37		0.5	BZZ
BSDK	0.61	0.6	0.57	0.45	0.64	0.07	0.52	0.5		BSDK
	ICKB	ICK	C6TB	EK7A	W8VS	CWW0	TDB	BZZ	BSDK

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Risk-Adjusted Indicators

There is a big difference between BANK Stock performing well and BANK OCHINA 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 OCHINA'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
ICKB	1.61	0.24	0.08	0.58	1.80	(2.26)	3.67	(2.50)	16.63
ICK	2.25	0.78	0.15	(0.67)	1.91	(4.23)	4.65	(4.44)	33.01
C6TB	1.08	0.07	0.00	0.44	1.59	(1.47)	2.17	(1.45)	9.37
EK7A	1.34	0.22	0.06	(104.86)	1.49	(1.93)	3.85	(2.61)	10.14
W8VS	1.10	0.20	0.09	0.72	0.86	(1.82)	3.82	(1.92)	7.28
CWW0	0.98	0.15	0.03	(0.93)	1.16	(1.19)	2.25	(2.63)	6.15
TDB	0.94	0.12	0.01	(2.42)	1.45	(1.03)	2.19	(1.16)	10.67
BZZ	0.87	0.21	0.16	5.07	0.54	(1.15)	1.92	(1.04)	7.37
BSDK	1.13	0.17	0.04	(3.29)	1.27	(1.46)	2.71	(2.25)	8.95

Be your own money manager

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