Tungkong Correlations
| 002117 Stock | 13.43 0.18 1.32% |
The current 90-days correlation between Tungkong and China Petroleum Chemical is 0.06 (i.e., Significant diversification). The correlation of Tungkong 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.
Tungkong Correlation With Market
Average diversification
The correlation between Tungkong and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tungkong and DJI in the same portfolio, assuming nothing else is changed.
Tungkong |
The ability to find closely correlated positions to Tungkong could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tungkong 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 Tungkong - 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 Tungkong to buy it.
Moving together with Tungkong Stock
| 0.82 | 601318 | Ping An Insurance | PairCorr |
| 0.62 | 300668 | Shenzhen Jiang | PairCorr |
| 0.76 | 300548 | Broadex Technologies | PairCorr |
| 0.66 | 001259 | Beijing Liven Technology | PairCorr |
| 0.81 | 300648 | Fujian Nebula Electronics | PairCorr |
| 0.71 | 603353 | Hunan Heshun Petroleum | PairCorr |
| 0.72 | 300593 | Beijing Xinleineng | PairCorr |
| 0.62 | 002371 | NAURA Technology | PairCorr |
| 0.66 | 300448 | Guangzhou Haoyun Security | PairCorr |
| 0.86 | 000859 | Anhui Guofeng Plastic | PairCorr |
| 0.87 | 300189 | Hainan Shennong Tech | PairCorr |
| 0.81 | 688239 | Guizhou Aviation Tec | PairCorr |
| 0.74 | 000070 | Shenzhen SDG Information | PairCorr |
| 0.76 | 603049 | Zhongce Rubber Group | PairCorr |
| 0.75 | 600984 | Shaanxi Construction | PairCorr |
| 0.77 | 600493 | Fujian Fynex Textile | PairCorr |
| 0.83 | 301057 | Zhejiang Huilong New | PairCorr |
Moving against Tungkong Stock
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 Tungkong Stock performing well and Tungkong 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 Tungkong'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 600028 | 0.76 | 0.12 | 0.03 | (0.25) | 0.69 | 1.54 | 6.49 | |||
| 601857 | 1.07 | 0.23 | 0.14 | (15.25) | 0.83 | 2.73 | 6.97 | |||
| 601668 | 0.71 | (0.14) | 0.00 | (2.28) | 0.00 | 0.91 | 6.08 | |||
| 601988 | 0.92 | 0.08 | 0.00 | (0.27) | 1.09 | 1.73 | 7.06 | |||
| 601390 | 0.67 | (0.08) | 0.00 | (0.60) | 0.00 | 1.58 | 7.61 | |||
| 601186 | 0.50 | (0.06) | 0.00 | (2.58) | 0.00 | 1.12 | 4.33 | |||
| 600941 | 0.51 | (0.09) | 0.00 | 0.50 | 0.00 | 0.98 | 2.67 | |||
| 601318 | 1.05 | 0.33 | 0.26 | 1.81 | 0.66 | 2.51 | 7.37 | |||
| 002594 | 0.97 | (0.26) | 0.00 | (1.16) | 0.00 | 1.69 | 4.42 | |||
| 601800 | 0.60 | (0.09) | 0.00 | (1.77) | 0.00 | 1.15 | 4.02 |
Be your own money manager
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Tungkong Corporate Executives
Elected by the shareholders, the Tungkong's board of directors comprises two types of representatives: Tungkong inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tungkong. The board's role is to monitor Tungkong's management team and ensure that shareholders' interests are well served. Tungkong'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, Tungkong's outside directors are responsible for providing unbiased perspectives on the board's policies.