Huaneng Power Correlations

HUNGF Stock

USD 0.59 0.07 10.61%

The current 90-days correlation between Huaneng Power Intern and Becle SA de is 0.11 (i.e., Average diversification). The correlation of Huaneng Power 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.

Huaneng Power Correlation With Market

Good diversification

The correlation between Huaneng Power International and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Huaneng Power International and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Huaneng Pink Sheet

0.65	VST	Vistra Energy Corp	Pair Corr
0.66	KB	KB Financial Group	Pair Corr
0.61	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.63	WF	Woori Financial Group	Pair Corr
0.75	TRN	Trinity Industries Earnings Call This Week	Pair Corr
0.62	TXTM	Protext Mobility	Pair Corr
0.65	NTWO	Newbury Street II	Pair Corr

Moving against Huaneng Pink Sheet

0.47

TGGI

Trans Global Grp

Pair Corr

Related Correlations Analysis

	BCCLF	CXMSF	DIPGF	HGKGF	MXGFF	NRG	PAM	PBCRF	SNPMF
BCCLF		-0.07	0.13	0.43	0.02	0.47	0.41	0.27	-0.2	BCCLF
CXMSF	-0.07		-0.24	-0.17	0.62	0.28	-0.08	-0.03	0.27	CXMSF
DIPGF	0.13	-0.24		-0.08	-0.02	-0.19	0.03	-0.37	0.33	DIPGF
HGKGF	0.43	-0.17	-0.08		-0.16	0.2	0.41	0.33	-0.34	HGKGF
MXGFF	0.02	0.62	-0.02	-0.16		0.53	-0.34	0.13	0.53	MXGFF
NRG	0.47	0.28	-0.19	0.2	0.53		0.06	0.54	0.02	NRG
PAM	0.41	-0.08	0.03	0.41	-0.34	0.06		0.31	-0.44	PAM
PBCRF	0.27	-0.03	-0.37	0.33	0.13	0.54	0.31		-0.42	PBCRF
SNPMF	-0.2	0.27	0.33	-0.34	0.53	0.02	-0.44	-0.42		SNPMF
	BCCLF	CXMSF	DIPGF	HGKGF	MXGFF	NRG	PAM	PBCRF	SNPMF

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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

MXGFF	+ 0.62	CXMSF
PBCRF	+ 0.54	NRG
NRG	+ 0.53	MXGFF
SNPMF	+ 0.53	MXGFF
NRG	+ 0.47	BCCLF
HGKGF	+ 0.43	BCCLF

High negative correlations

SNPMF	- 0.44	PAM
SNPMF	- 0.42	PBCRF
PBCRF	- 0.37	DIPGF
PAM	- 0.34	MXGFF
SNPMF	- 0.34	HGKGF
DIPGF	- 0.24	CXMSF

Risk-Adjusted Indicators

There is a big difference between Huaneng Pink Sheet performing well and Huaneng Power 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 Huaneng Power'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
BCCLF	2.30	(0.04)	(0.04)	(0.06)	3.12	(4.75)	6.67	(5.74)	23.86
CXMSF	1.65	0.63	0.00	(9.39)	0.00	0.00	6.25	(1.54)	18.81
DIPGF	0.46	0.19	0.00	1.34	0.00	0.00	0.00	0.00	8.33
HGKGF	1.85	0.19	(0.02)	(0.31)	2.67	(3.70)	4.24	(4.61)	16.76
MXGFF	1.04	0.26	0.00	(1.13)	1.33	(2.91)	3.16	(2.90)	13.70
NRG	1.93	0.84	0.27	(1.61)	1.41	(2.31)	4.58	(2.88)	30.89
PAM	2.14	(0.30)	0.00	(0.09)	0.00	0.00	4.14	(4.03)	14.29
PBCRF	1.20	0.10	0.00	0.32	0.00	0.00	3.85	(1.67)	27.51
SNPMF	21.21	5.77	0.20	3.32	17.09	(41.54)	88.89	(47.06)	140.67

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

Wang Yutian	Ex officer	Profile
Rui Duan	S Commission	Profile
Lixin Huang	Chief Accounting Officer	Profile
Chaoquan Huang	Secretary of the Board	Profile
Lang Jin	Ex officer	Profile
Wei Liu	Chief Engineer	Profile
Qiyang Fu	Chief Economist	Profile

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