Sany Heavy Correlations

YXS Stock  EUR 0.58  0.02  3.33%   
The current 90-days correlation between Sany Heavy Equipment and United Rentals is 0.13 (i.e., Average diversification). The correlation of Sany Heavy 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.

Sany Heavy Correlation With Market

Average diversification

The correlation between Sany Heavy Equipment and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sany Heavy Equipment and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Sany Heavy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sany Heavy 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 Sany Heavy - 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 Sany Heavy Equipment to buy it.

Moving together with Sany Stock

  0.61HY9H SK hynixPairCorr
  0.69DBPE Xtrackers LevDAXPairCorr

Moving against Sany Stock

  0.69DBPD Xtrackers ShortDAXPairCorr
  0.48SSU Samsung ElectronicsPairCorr
  0.43SSUN Samsung ElectronicsPairCorr

Related Correlations Analysis

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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   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between Sany Stock performing well and Sany Heavy 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 Sany Heavy'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sany Heavy 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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Sany Heavy Corporate Management

Elected by the shareholders, the Sany Heavy's board of directors comprises two types of representatives: Sany Heavy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Sany. The board's role is to monitor Sany Heavy's management team and ensure that shareholders' interests are well served. Sany Heavy'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, Sany Heavy's outside directors are responsible for providing unbiased perspectives on the board's policies.