Citic Correlations

CTPCY Stock

USD 6.54 0.37 5.35%

The current 90-days correlation between Citic Ltd ADR and BOC Hong Kong is -0.07 (i.e., Good diversification). The correlation of Citic 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Citic Correlation With Market

Average diversification

The correlation between Citic Ltd ADR and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Citic Ltd ADR and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Citic 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 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 - 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 Ltd ADR to buy it.

Moving together with Citic Pink Sheet

0.69	HON	Honeywell International Earnings Call This Week	Pair Corr
0.69	MMM	3M Company	Pair Corr
0.75	HTHIF	Hitachi	Pair Corr
0.71	HTHIY	Hitachi Ltd ADR	Pair Corr
0.91	KB	KB Financial Group Earnings Call Tomorrow	Pair Corr
0.87	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.88	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.78	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.71	INTC	Intel Earnings Call This Week	Pair Corr
0.85	AXP	American Express	Pair Corr
0.73	XOM	Exxon Mobil Corp	Pair Corr
0.87	CAT	Caterpillar	Pair Corr
0.72	BA	Boeing	Pair Corr
0.88	MSFT	Microsoft	Pair Corr
0.95	IBM	International Business Earnings Call This Week	Pair Corr
0.89	JPM	JPMorgan Chase	Pair Corr
0.85	CVX	Chevron Corp	Pair Corr

Moving against Citic Pink Sheet

0.47	07274NBG7	BAYNGR 5 15	Pair Corr
0.87	MCD	McDonalds	Pair Corr
0.54	KO	Coca Cola Earnings Call This Week	Pair Corr
0.54	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	MMM	FBYD	TTI	BHKLY	HSNGY	HLDCY	SWRAY	HGKGY
MMM		-0.35	0.43	0.86	0.84	0.75	0.54	0.49	MMM
FBYD	-0.35		-0.66	-0.54	-0.52	-0.67	0.0	-0.39	FBYD
TTI	0.43	-0.66		0.65	0.65	0.74	0.28	0.4	TTI
BHKLY	0.86	-0.54	0.65		0.94	0.85	0.5	0.55	BHKLY
HSNGY	0.84	-0.52	0.65	0.94		0.88	0.61	0.66	HSNGY
HLDCY	0.75	-0.67	0.74	0.85	0.88		0.42	0.56	HLDCY
SWRAY	0.54	0.0	0.28	0.5	0.61	0.42		0.53	SWRAY
HGKGY	0.49	-0.39	0.4	0.55	0.66	0.56	0.53		HGKGY
	MMM	FBYD	TTI	BHKLY	HSNGY	HLDCY	SWRAY	HGKGY

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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

HSNGY	+ 0.94	BHKLY
HLDCY	+ 0.88	HSNGY
BHKLY	+ 0.86	MMM
HLDCY	+ 0.85	BHKLY
HSNGY	+ 0.84	MMM
HLDCY	+ 0.75	MMM

High negative correlations

HLDCY	- 0.67	FBYD
TTI	- 0.66	FBYD
BHKLY	- 0.54	FBYD
HSNGY	- 0.52	FBYD
HGKGY	- 0.39	FBYD
FBYD	- 0.35	MMM

Risk-Adjusted Indicators

There is a big difference between Citic Pink Sheet performing well and Citic 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'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
MMM	1.32	(0.01)	0.04	0.12	1.49	(1.37)	2.93	(3.08)	11.20
FBYD	4.13	0.19	0.01	(0.67)	4.44	(5.18)	9.55	(7.95)	25.45
TTI	2.93	0.66	0.14	(2.49)	3.06	(3.33)	6.43	(4.77)	26.01
BHKLY	1.41	0.34	0.15	1.38	1.35	(1.65)	3.33	(2.25)	11.24
HSNGY	1.16	0.23	0.16	0.48	0.93	(1.41)	3.03	(1.57)	10.20
HLDCY	1.51	0.40	0.15	1.03	1.79	(1.74)	3.69	(2.77)	11.46
SWRAY	1.11	0.14	0.01	1.68	1.28	(1.20)	2.13	(2.71)	6.79
HGKGY	1.47	0.06	0.00	0.26	2.26	(1.52)	4.10	(3.06)	15.28

Be your own money manager

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

Guohua Xi	Vice Pres	Profile
Wing Choy	Group General Counsel and Company Secretary	Profile
Huayue Zhu	Gen Marketing	Profile
Youjun Zhang	Assistant Pres	Profile
Jun Cui	Member Committee	Profile
Hexin Zhu	Ex Chairman	Profile
Youmei Ni	Chief Accountant	Profile

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