Shanghai Material Correlations

Stocks . China . 
Stock . Shanghai Material Trading
600822 Stock   11.37  0.07  0.61%   
The correlation of Shanghai Material 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.

Shanghai Material Correlation With Market

Significant diversification

The correlation between Shanghai Material Trading and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Material Trading and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Shanghai Material could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shanghai Material 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 Shanghai Material - 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 Shanghai Material Trading to buy it.

Moving against Shanghai Stock

  0.74601727 Shanghai ElectricPairCorr
  0.71300001 Qingdao TGOOD ElectricPairCorr
  0.69601899 Zijin Mining GroupPairCorr
  0.67301148 Xiamen Jiarong TechnologyPairCorr
  0.6600988 Chifeng Jilong GoldPairCorr
  0.56300257 Zhejiang Kaishan ComPairCorr
  0.54002394 Jiangsu Lianfa TextilePairCorr
  0.52002028 Sieyuan ElectricPairCorr
  0.43002632 Daoming OpticsChemicalPairCorr
  0.42688656 HOB Biotech GroupPairCorr
  0.42603069 Hainan Haiqi TranspoPairCorr
  0.39600651 Shanghai Feilo AcousticsPairCorr
  0.36600499 Keda Clean EnergyPairCorr
  0.35600160 Zhejiang JuhuaPairCorr
  0.35600019 Baoshan Iron SteelPairCorr
  0.34603160 Shenzhen Goodix TechPairCorr
  0.75300250 Hangzhou CNCR ITPairCorr
  0.63002371 NAURA TechnologyPairCorr
  0.61600490 Pengxin InternationalPairCorr
  0.58600089 TbeaPairCorr
  0.52600236 Guangxi Guiguan ElectricPairCorr
  0.5601088 China Shenhua EnergyPairCorr
  0.46600183 Shengyi TechnologyPairCorr
  0.42000949 Xinxiang Chemical FiberPairCorr
  0.4688778 XTC New EnergyPairCorr
  0.38002459 JA Solar TechnologyPairCorr
  0.37002429 Shenzhen MTCPairCorr
  0.36300413 Mango Excellent MediaPairCorr
  0.33603182 Shandong Sinoglory HealthPairCorr
  0.31300398 Shanghai Phichem MaterialPairCorr

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

601121
+ 0.88
600711
300818
+ 0.87
600711
601121
+ 0.87
605338
605338
+ 0.8
600711
601121
+ 0.78
300818
605338
+ 0.74
300818
  

High negative correlations

603336
- 0.0
600985

Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai Material 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 Shanghai Material'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.

Be your own money manager

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

Elected by the shareholders, the Shanghai Material's board of directors comprises two types of representatives: Shanghai Material inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shanghai. The board's role is to monitor Shanghai Material's management team and ensure that shareholders' interests are well served. Shanghai Material'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, Shanghai Material's outside directors are responsible for providing unbiased perspectives on the board's policies.
Hong ZhaoFinancial BoardProfile
Gang XuDeputy ManagerProfile
Bin ZhengDeputy ManagerProfile
Yichen HuangHead SupervisorProfile
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