CITIC Metal Correlations

601061 Stock

8.38 0.09 1.09%

The current 90-days correlation between CITIC Metal and China Life Insurance is 0.16 (i.e., Average diversification). The correlation of CITIC Metal 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.

CITIC Metal Correlation With Market

Average diversification

The correlation between CITIC Metal Co and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CITIC Metal Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CITIC Stock

0.83	601899	Zijin Mining Group	Pair Corr
0.73	600010	Inner Mongolia BaoTou	Pair Corr
0.61	600160	Zhejiang Juhua	Pair Corr
0.88	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.89	000708	CITIC Pacific Special	Pair Corr
0.69	601857	PetroChina	Pair Corr
0.65	600938	CNOOC Limited	Pair Corr
0.78	601318	Ping An Insurance	Pair Corr
0.65	601628	China Life Insurance	Pair Corr
0.75	601668	China State Construction	Pair Corr
0.69	300801	Taihe Technologies	Pair Corr
0.66	300750	Contemporary Amperex	Pair Corr
0.87	300394	Suzhou TFC Optical Split	Pair Corr
0.9	600711	Chengtun Mining Group	Pair Corr

Moving against CITIC Stock

0.7	600519	Kweichow Moutai	Pair Corr
0.63	002594	BYD Co	Pair Corr
0.62	601728	China Telecom Corp	Pair Corr
0.52	600941	China Mobile Limited	Pair Corr
0.36	603260	Hoshine Silicon Ind	Pair Corr

Related Correlations Analysis

	601319	688057	601628	301091	600507	300664	000558	300958
601319		0.81	0.94	0.64	0.27	0.81	0.52	0.82	601319
688057	0.81		0.82	0.77	0.62	0.94	0.56	0.93	688057
601628	0.94	0.82		0.69	0.32	0.84	0.62	0.85	601628
301091	0.64	0.77	0.69		0.44	0.75	0.41	0.72	301091
600507	0.27	0.62	0.32	0.44		0.65	0.48	0.63	600507
300664	0.81	0.94	0.84	0.75	0.65		0.67	0.98	300664
000558	0.52	0.56	0.62	0.41	0.48	0.67		0.7	000558
300958	0.82	0.93	0.85	0.72	0.63	0.98	0.7		300958
	601319	688057	601628	301091	600507	300664	000558	300958

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between CITIC Stock performing well and CITIC Metal 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 CITIC Metal'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
601319	1.07	0.14	0.08	0.35	0.80	(1.23)	2.47	(1.62)	12.68
688057	0.85	0.33	0.23	2.47	0.18	(1.10)	2.62	(1.20)	5.53
601628	0.90	0.10	(0.01)	0.47	0.80	(1.05)	2.36	(1.63)	7.66
301091	1.96	0.17	0.03	0.62	1.92	(2.26)	5.02	(3.08)	14.44
600507	1.32	0.57	0.39	2.22	0.44	(1.67)	4.99	(1.42)	10.57
300664	0.88	0.23	0.07	2.51	0.78	(1.08)	2.27	(1.09)	7.86
000558	2.23	0.02	(0.03)	0.22	2.88	(2.31)	5.22	(4.31)	15.87
300958	1.12	0.34	0.12	(3.52)	1.03	(1.36)	3.04	(2.06)	8.84

Be your own money manager

Our tools can tell you how much better you can do entering a position in CITIC Metal 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.

Did you try this?

Run Money Managers Now

Money Managers

Screen money managers from public funds and ETFs managed around the world

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC