Chengdu Screen Correlations

688053 Stock

28.30 0.38 1.32%

The current 90-days correlation between Chengdu Screen Micro and Industrial and Commercial is 0.16 (i.e., Average diversification). The correlation of Chengdu Screen 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.

Chengdu Screen Correlation With Market

Good diversification

The correlation between Chengdu Screen Micro Electroni and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chengdu Screen Micro Electroni and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Chengdu Stock

0.77	601658	Postal Savings Bank	Pair Corr
0.8	601166	Industrial Bank	Pair Corr

Moving against Chengdu Stock

0.84	600063	Anhui Wanwei Updated	Pair Corr
0.79	002716	Chenzhou Jingui Silver	Pair Corr
0.77	002062	Hongrun Construction	Pair Corr
0.75	600988	Chifeng Jilong Gold	Pair Corr
0.72	301099	Shanghai Yct Electronics	Pair Corr
0.71	601088	China Shenhua Energy	Pair Corr
0.66	600601	Founder Technology	Pair Corr
0.58	300770	Guangdong South New	Pair Corr
0.54	600029	China Southern Airlines	Pair Corr
0.51	603933	Fujian Raynen Tech	Pair Corr
0.39	601288	Agricultural Bank	Pair Corr
0.33	601398	Industrial and Commercial	Pair Corr
0.33	000692	Shenyang Huitian Thermal	Pair Corr
0.33	600130	Ningbo Bird	Pair Corr
0.9	300604	Hangzhou Chang Chuan	Pair Corr
0.85	300250	Hangzhou CNCR IT	Pair Corr
0.8	605358	Hangzhou Lion Electronics	Pair Corr
0.79	002371	NAURA Technology	Pair Corr
0.79	603843	Zhengping RoadBridge	Pair Corr
0.77	600769	Wuhan Xianglong Power	Pair Corr
0.75	002169	Guangzhou Zhiguang	Pair Corr
0.73	600929	Snowsky Salt Industry	Pair Corr
0.72	688028	Beijing Worldia Diamond	Pair Corr
0.72	002056	Hengdian Group DMEGC	Pair Corr

Related Correlations Analysis

	601398	601939	601988	601288	601857	600941	601318	600036	600938	601166
601398		0.9	0.8	0.91	0.92	0.37	0.64	0.39	0.89	0.1	601398
601939	0.9		0.86	0.86	0.87	0.57	0.79	0.63	0.69	0.36	601939
601988	0.8	0.86		0.7	0.87	0.53	0.86	0.69	0.6	0.52	601988
601288	0.91	0.86	0.7		0.88	0.24	0.58	0.27	0.85	-0.03	601288
601857	0.92	0.87	0.87	0.88		0.37	0.72	0.48	0.86	0.22	601857
600941	0.37	0.57	0.53	0.24	0.37		0.63	0.72	0.08	0.61	600941
601318	0.64	0.79	0.86	0.58	0.72	0.63		0.84	0.36	0.74	601318
600036	0.39	0.63	0.69	0.27	0.48	0.72	0.84		0.06	0.91	600036
600938	0.89	0.69	0.6	0.85	0.86	0.08	0.36	0.06		-0.23	600938
601166	0.1	0.36	0.52	-0.03	0.22	0.61	0.74	0.91	-0.23		601166
	601398	601939	601988	601288	601857	600941	601318	600036	600938	601166

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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

601857	+ 0.92	601398
601288	+ 0.91	601398
601166	+ 0.91	600036
601939	+ 0.9	601398
600938	+ 0.89	601398
601857	+ 0.88	601288

High negative correlations

601166	- 0.23	600938
601166	- 0.03	601288

Risk-Adjusted Indicators

There is a big difference between Chengdu Stock performing well and Chengdu Screen 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 Chengdu Screen'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
601398	0.82	0.11	0.08	(0.29)	0.92	(0.91)	2.57	(1.82)	5.17
601939	0.87	0.08	0.05	(0.23)	1.02	(1.00)	2.30	(1.70)	5.26
601988	0.87	0.17	0.15	(0.45)	0.73	(1.17)	1.99	(1.78)	3.96
601288	1.33	0.28	0.18	5.15	1.21	(1.57)	3.03	(2.34)	8.10
601857	1.08	0.23	0.18	(1.40)	0.84	(1.36)	3.15	(1.52)	7.23
600941	0.56	(0.01)	0.00	0.10	0.00	0.00	1.13	(1.16)	3.16
601318	0.94	0.04	0.01	(0.13)	1.18	(0.96)	1.77	(1.97)	4.75
600036	0.81	(0.01)	0.00	0.04	0.00	0.00	2.20	(1.76)	5.70
600938	1.05	0.22	0.18	(1.58)	0.93	(1.27)	2.53	(2.06)	6.93
601166	0.88	(0.08)	0.00	0.24	0.00	0.00	1.63	(1.80)	4.70

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chengdu Screen 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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Chengdu Screen Corporate Management

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

Guo Sun	Core Personnel	Profile
Yabing Li	Financial Supervisor	Profile
Changnian Wu	Secretary Board	Profile
Qiuping Du	Deputy Manager	Profile

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