China Citic Correlations

601998 Stock

6.83 0.10 1.44%

The current 90-days correlation between China Citic Bank and China Merchants Bank is 0.83 (i.e., Very poor diversification). The correlation of China 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.

China Citic Correlation With Market

Significant diversification

The correlation between China Citic Bank and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Citic Bank and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China 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 China 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 China 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 China Citic Bank to buy it.

Moving together with China Stock

0.71	688235	BeiGene	Pair Corr
0.81	600519	Kweichow Moutai	Pair Corr
0.77	600941	China Mobile Limited	Pair Corr
0.84	000661	Changchun High New	Pair Corr
0.72	002371	NAURA Technology	Pair Corr
0.87	300750	Contemporary Amperex	Pair Corr

Related Correlations Analysis

	601398	601939	601988	601288	601857	600941	601318	600036	601166	600938
601398		0.98	0.94	0.95	0.62	0.8	0.81	0.87	0.87	0.63	601398
601939	0.98		0.9	0.93	0.61	0.73	0.87	0.92	0.91	0.64	601939
601988	0.94	0.9		0.96	0.58	0.84	0.64	0.72	0.74	0.54	601988
601288	0.95	0.93	0.96		0.6	0.77	0.68	0.76	0.8	0.61	601288
601857	0.62	0.61	0.58	0.6		0.73	0.6	0.62	0.75	0.94	601857
600941	0.8	0.73	0.84	0.77	0.73		0.54	0.58	0.68	0.7	600941
601318	0.81	0.87	0.64	0.68	0.6	0.54		0.99	0.93	0.63	601318
600036	0.87	0.92	0.72	0.76	0.62	0.58	0.99		0.95	0.64	600036
601166	0.87	0.91	0.74	0.8	0.75	0.68	0.93	0.95		0.79	601166
600938	0.63	0.64	0.54	0.61	0.94	0.7	0.63	0.64	0.79		600938
	601398	601939	601988	601288	601857	600941	601318	600036	601166	600938

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Risk-Adjusted Indicators

There is a big difference between China Stock performing well and China 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 China 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
601398	1.09	0.17	0.06	3.93	1.09	(1.38)	2.83	(2.29)	8.14
601939	1.18	0.19	0.07	2.23	1.30	(1.38)	3.32	(2.12)	8.64
601988	1.07	0.13	0.03	19.04	1.17	(1.32)	2.67	(2.33)	7.70
601288	1.05	0.15	0.04	9.23	1.43	(1.05)	2.13	(2.19)	7.78
601857	1.32	0.02	(0.03)	(0.26)	1.97	(1.64)	3.55	(2.04)	17.17
600941	1.01	0.08	0.00	0.75	1.06	(1.24)	2.05	(2.04)	8.38
601318	1.82	0.35	0.12	1.09	1.97	(2.17)	5.83	(2.88)	19.77
600036	1.58	0.28	0.09	(33.01)	1.80	(1.81)	4.65	(2.62)	13.83
601166	1.41	0.16	0.05	0.79	1.63	(1.50)	3.84	(2.56)	12.07
600938	1.44	0.08	(0.01)	(0.39)	2.06	(1.51)	3.25	(2.18)	16.49

Be your own money manager

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

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

Gang Hu	VP Officer	Profile
Zhibin Xie	VP	Profile
FCS FCIS	Joint Secretary	Profile
Qing Zhang	Secretary Secretary	Profile

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