China Health Correlations

CHHE Stock

USD 0.28 0.00 0.00%

The current 90-days correlation between China Health Industries and Mill City Ventures is -0.07 (i.e., Good diversification). The correlation of China Health 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 Health Correlation With Market

Average diversification

The correlation between China Health Industries and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Health Industries and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China Health 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 Health 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 Health - 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 Health Industries to buy it.

Moving against China Pink Sheet

0.73	NETDU	Nabors Energy Transition	Pair Corr
0.5	THCPU	Thunder Bridge Capital	Pair Corr
0.49	AS	Amer Sports,	Pair Corr
0.49	NBIX	Neurocrine Biosciences	Pair Corr
0.48	EVGR	Evergreen Corp	Pair Corr
0.46	OPTX	Syntec Optics Holdings Trending	Pair Corr
0.37	SAPMF	Saipem SpA	Pair Corr
0.36	OBYCF	Obayashi	Pair Corr
0.36	RELY	Remitly Global	Pair Corr
0.35	KITTW	Nauticus Robotics	Pair Corr
0.34	HUT	Hut 8 Corp	Pair Corr
0.32	784730AB9	US784730AB94	Pair Corr
0.31	GIFI	Gulf Island Fabrication	Pair Corr
0.58	MMV	MultiMetaVerse Holdings Buyout Trend	Pair Corr
0.53	CTRN	Citi Trends	Pair Corr
0.48	YPF	YPF Sociedad Anonima	Pair Corr
0.47	XMTR	Xometry	Pair Corr
0.46	DMRC	Digimarc	Pair Corr
0.4	CNOBP	ConnectOne Bancorp	Pair Corr
0.39	M	Macys Inc	Pair Corr

Related Correlations Analysis

	KEY-PI	AROW	SLG	PFLT	HOFT	MCVT	UHG	SPNT
KEY-PI		-0.19	0.23	0.52	0.23	0.45	0.47	-0.29	KEY-PI
AROW	-0.19		0.66	-0.5	0.61	-0.48	0.16	0.77	AROW
SLG	0.23	0.66		-0.18	0.53	-0.27	0.29	0.32	SLG
PFLT	0.52	-0.5	-0.18		-0.13	0.33	0.3	-0.55	PFLT
HOFT	0.23	0.61	0.53	-0.13		-0.01	0.6	0.5	HOFT
MCVT	0.45	-0.48	-0.27	0.33	-0.01		0.15	-0.36	MCVT
UHG	0.47	0.16	0.29	0.3	0.6	0.15		-0.07	UHG
SPNT	-0.29	0.77	0.32	-0.55	0.5	-0.36	-0.07		SPNT
	KEY-PI	AROW	SLG	PFLT	HOFT	MCVT	UHG	SPNT

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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

SPNT	+ 0.77	AROW
SLG	+ 0.66	AROW
HOFT	+ 0.61	AROW
UHG	+ 0.6	HOFT
HOFT	+ 0.53	SLG
PFLT	+ 0.52	KEY-PI

High negative correlations

SPNT	- 0.55	PFLT
PFLT	- 0.5	AROW
MCVT	- 0.48	AROW
SPNT	- 0.36	MCVT
SPNT	- 0.29	KEY-PI
MCVT	- 0.27	SLG

Risk-Adjusted Indicators

There is a big difference between China Pink Sheet performing well and China Health 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 Health'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
KEY-PI	0.55	(0.10)	0.00	(0.64)	0.00	0.00	1.23	(1.43)	4.39
AROW	1.58	(0.03)	0.00	(0.16)	0.00	0.00	3.64	(3.25)	19.42
SLG	1.47	(0.10)	0.00	(0.06)	0.00	0.00	2.87	(3.13)	11.65
PFLT	0.64	(0.09)	0.00	(0.31)	0.00	0.00	0.91	(1.30)	4.93
HOFT	2.58	(0.37)	0.00	(0.15)	0.00	0.00	5.45	(5.62)	16.19
MCVT	2.80	(0.53)	0.00	(1.00)	0.00	0.00	5.29	(7.79)	14.06
UHG	3.39	(0.38)	0.00	(0.15)	0.00	0.00	7.79	(8.37)	30.43
SPNT	1.41	0.04	0.01	2.57	1.90	(1.48)	2.68	(3.01)	14.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in China Health 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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