Tongyu Communication Correlations
| 002792 Stock | 19.06 0.91 5.01% |
The current 90-days correlation between Tongyu Communication and Agricultural Bank of is -0.2 (i.e., Good diversification). The correlation of Tongyu Communication 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.
Tongyu Communication Correlation With Market
Significant diversification
The correlation between Tongyu Communication and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tongyu Communication and DJI in the same portfolio, assuming nothing else is changed.
Tongyu |
The ability to find closely correlated positions to Tongyu Communication could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tongyu Communication 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 Tongyu Communication - 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 Tongyu Communication to buy it.
Moving together with Tongyu Stock
| 0.67 | 601288 | Agricultural Bank Earnings Call This Week | PairCorr |
Moving against Tongyu Stock
| 0.31 | 600036 | China Merchants Bank Earnings Call This Week | 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
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Risk-Adjusted Indicators
There is a big difference between Tongyu Stock performing well and Tongyu Communication 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 Tongyu Communication'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601288 | 1.23 | 0.43 | 0.23 | (1.36) | 1.04 | 2.66 | 8.10 | |||
| 601398 | 0.83 | 0.04 | (0.06) | (0.04) | 0.93 | 2.28 | 4.85 | |||
| 601988 | 0.77 | (0.03) | 0.00 | 0.18 | 0.00 | 1.89 | 3.96 | |||
| 601857 | 1.07 | 0.04 | (0.04) | (0.16) | 1.29 | 2.50 | 7.23 | |||
| 601658 | 1.00 | 0.11 | 0.01 | (0.26) | 1.22 | 1.77 | 6.07 | |||
| 600028 | 0.77 | (0.01) | 0.00 | 0.10 | 0.00 | 1.89 | 7.30 | |||
| 601728 | 0.74 | (0.10) | 0.00 | 0.47 | 0.00 | 1.39 | 4.67 | |||
| 601328 | 0.86 | (0.13) | 0.00 | 0.54 | 0.00 | 1.74 | 3.96 |
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Tongyu Communication Corporate Management
Elected by the shareholders, the Tongyu Communication's board of directors comprises two types of representatives: Tongyu Communication inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tongyu. The board's role is to monitor Tongyu Communication's management team and ensure that shareholders' interests are well served. Tongyu Communication'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, Tongyu Communication's outside directors are responsible for providing unbiased perspectives on the board's policies.