Zhaojin Mining Correlations

ZHAOF Stock

USD 1.48 0.00 0.00%

The current 90-days correlation between Zhaojin Mining Industry and Kinross Gold is -0.02 (i.e., Good diversification). The correlation of Zhaojin Mining 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.

Zhaojin Mining Correlation With Market

Good diversification

The correlation between Zhaojin Mining Industry and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhaojin Mining Industry and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Zhaojin Pink Sheet

0.62	CHHQY	China Hongqiao Group	Pair Corr
0.53	35906ABG2	US35906ABG22	Pair Corr
0.31	WMT	Walmart Earnings Call This Week	Pair Corr

Related Correlations Analysis

	HYMCW	PZG	HYMCL	KGC	IAG	GFI	NEM	PAAS	WPM	BTG
HYMCW		0.22	0.14	-0.44	-0.41	-0.41	-0.05	-0.13	0.02	0.62	HYMCW
PZG	0.22		0.27	-0.02	-0.04	-0.02	0.21	0.06	0.07	0.28	PZG
HYMCL	0.14	0.27		0.16	0.2	0.33	0.59	0.41	0.54	0.4	HYMCL
KGC	-0.44	-0.02	0.16		0.95	0.96	0.79	0.83	0.71	-0.27	KGC
IAG	-0.41	-0.04	0.2	0.95		0.93	0.77	0.86	0.77	-0.21	IAG
GFI	-0.41	-0.02	0.33	0.96	0.93		0.85	0.85	0.77	-0.24	GFI
NEM	-0.05	0.21	0.59	0.79	0.77	0.85		0.89	0.92	0.21	NEM
PAAS	-0.13	0.06	0.41	0.83	0.86	0.85	0.89		0.93	0.12	PAAS
WPM	0.02	0.07	0.54	0.71	0.77	0.77	0.92	0.93		0.33	WPM
BTG	0.62	0.28	0.4	-0.27	-0.21	-0.24	0.21	0.12	0.33		BTG
	HYMCW	PZG	HYMCL	KGC	IAG	GFI	NEM	PAAS	WPM	BTG

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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

GFI	+ 0.96	KGC
IAG	+ 0.95	KGC
GFI	+ 0.93	IAG
WPM	+ 0.93	PAAS
WPM	+ 0.92	NEM
PAAS	+ 0.89	NEM

High negative correlations

KGC	- 0.44	HYMCW
GFI	- 0.41	HYMCW
IAG	- 0.41	HYMCW
BTG	- 0.27	KGC
BTG	- 0.24	GFI
BTG	- 0.21	IAG

Risk-Adjusted Indicators

There is a big difference between Zhaojin Pink Sheet performing well and Zhaojin Mining 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 Zhaojin Mining'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
HYMCW	12.94	1.06	0.06	(3.92)	15.88	(13.62)	26.67	(22.52)	80.56
PZG	3.59	0.18	0.03	(1.06)	3.99	(4.75)	7.89	(7.50)	20.63
HYMCL	9.19	1.63	0.11	1.08	8.79	(19.49)	26.67	(15.79)	58.48
KGC	2.08	0.14	0.05	0.23	2.99	(2.11)	4.85	(4.83)	12.67
IAG	2.42	0.20	0.06	0.89	2.91	(2.79)	5.15	(5.30)	13.78
GFI	1.95	0.29	0.12	0.43	2.11	(2.24)	4.16	(3.04)	9.79
NEM	1.44	0.07	0.03	0.10	1.88	(1.56)	3.49	(2.53)	8.92
PAAS	2.11	0.15	0.06	0.69	2.35	(2.26)	5.69	(3.94)	12.66
WPM	1.59	0.08	0.03	0.11	2.06	(1.63)	3.25	(4.14)	8.29
BTG	1.94	(0.21)	0.00	(0.82)	0.00	0.00	3.39	(4.17)	10.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zhaojin Mining 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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Zhaojin Mining Corporate Management

Houlin Huang	Chief Officer	Profile
Lunan Chen	Ex Director	Profile
Guipeng Jiang	Pres Director	Profile
ACIS ACS	Company Sec	Profile
Jiwen Yin	Chief Officer	Profile

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