Zhefu Holding Correlations
| 002266 Stock | 4.11 0.04 0.96% |
The current 90-days correlation between Zhefu Holding Group and China Aluminum International is 0.35 (i.e., Weak diversification). The correlation of Zhefu Holding 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.
Zhefu Holding Correlation With Market
Good diversification
The correlation between Zhefu Holding Group and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhefu Holding Group and DJI in the same portfolio, assuming nothing else is changed.
Zhefu |
The ability to find closely correlated positions to Zhefu Holding could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zhefu Holding 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 Zhefu Holding - 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 Zhefu Holding Group to buy it.
Moving together with Zhefu Stock
| 0.62 | 600938 | CNOOC Limited | PairCorr |
| 0.61 | 603132 | Jinhui Mining | PairCorr |
| 0.67 | 601022 | Ningbo Ocean Shipping | PairCorr |
| 0.69 | 603389 | A Zenith Home | PairCorr |
| 0.72 | 000708 | CITIC Pacific Special | PairCorr |
| 0.72 | 601717 | Zhengzhou Coal Mining | PairCorr |
| 0.83 | 002759 | Guangdong Tonze Electric | PairCorr |
| 0.69 | 603536 | Shandong Huifa Foodstuff | PairCorr |
| 0.75 | 000410 | Shenyang Machine Tool | PairCorr |
| 0.69 | 002718 | Zhejiang Youpon Inte | PairCorr |
| 0.67 | 688041 | Hygon Information | PairCorr |
| 0.86 | 000737 | North Copper Shanxi | PairCorr |
| 0.67 | 688778 | XTC New Energy | PairCorr |
Moving against Zhefu Stock
| 0.69 | 600036 | China Merchants Bank | PairCorr |
| 0.59 | 601318 | Ping An Insurance | PairCorr |
| 0.53 | 601988 | Bank of China | PairCorr |
| 0.38 | 600941 | China Mobile Limited | PairCorr |
| 0.35 | 601939 | China Construction Bank | PairCorr |
| 0.33 | 002313 | SUNSEA Telecommunicatio | 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 Zhefu Stock performing well and Zhefu Holding 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 Zhefu Holding'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601068 | 1.48 | 0.16 | (0.02) | (0.08) | 1.87 | 3.80 | 15.11 | |||
| 603979 | 2.64 | 0.31 | 0.09 | 0.34 | 3.29 | 6.89 | 17.39 | |||
| 600490 | 2.61 | 1.07 | 0.32 | (0.62) | 1.86 | 6.53 | 15.66 | |||
| 601168 | 1.95 | 0.46 | 0.19 | 1.96 | 1.66 | 4.09 | 13.80 | |||
| 600985 | 1.47 | (0.03) | 0.00 | 9.99 | 0.00 | 3.33 | 8.78 | |||
| 605128 | 1.90 | 0.32 | 0.09 | (3.18) | 1.94 | 4.14 | 13.00 | |||
| 000630 | 2.75 | 0.52 | 0.15 | 0.97 | 2.72 | 8.12 | 20.18 | |||
| 603132 | 1.49 | 0.09 | (0.02) | (0.35) | 1.76 | 2.83 | 8.71 |
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Zhefu Holding Corporate Management
Elected by the shareholders, the Zhefu Holding's board of directors comprises two types of representatives: Zhefu Holding inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zhefu. The board's role is to monitor Zhefu Holding's management team and ensure that shareholders' interests are well served. Zhefu Holding'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, Zhefu Holding's outside directors are responsible for providing unbiased perspectives on the board's policies.