Ningbo Thermal Correlations

600982 Stock

4.63 0.10 2.21%

The current 90-days correlation between Ningbo Thermal Power and Loctek Ergonomic Technology is 0.19 (i.e., Average diversification). The correlation of Ningbo Thermal 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.

Ningbo Thermal Correlation With Market

Very good diversification

The correlation between Ningbo Thermal Power and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ningbo Thermal Power and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Ningbo Stock

0.72	002475	Luxshare Precision	Pair Corr
0.69	688126	National Silicon Industry	Pair Corr
0.62	002185	Tianshui Huatian Tec	Pair Corr
0.61	300131	ShenZhen Yitoa Intel	Pair Corr
0.57	300786	Guolin Environmental Tech	Pair Corr
0.56	600179	Antong Holdings	Pair Corr
0.56	688261	Suzhou Oriental Semi	Pair Corr
0.56	688066	Beijing Piesat Infor	Pair Corr
0.55	600031	Sany Heavy Industry	Pair Corr
0.54	000036	China Union Holdings	Pair Corr
0.52	600353	Chengdu Xuguang Elec	Pair Corr
0.49	300755	Vats Liquor Chain	Pair Corr
0.48	000034	Digital China Group	Pair Corr
0.42	002173	Innovative Medical	Pair Corr
0.42	301108	Tongling Jieya Biologic	Pair Corr
0.32	300774	BGT Group	Pair Corr
0.31	002148	Beijing Bewinner Com	Pair Corr
0.71	603269	Jiangsu Seagull Cooling	Pair Corr
0.69	300207	Sunwoda Electronic	Pair Corr
0.69	002487	Dajin Heavy Industry	Pair Corr
0.61	301391	Colorlight Cloud Tech	Pair Corr
0.57	002975	Zhuhai Bojay Electronics	Pair Corr
0.54	000962	Ningxia Orient Tantalum	Pair Corr
0.54	300861	Yangling Metron New	Pair Corr
0.53	603662	Keli Sensing Technology	Pair Corr
0.52	601880	Liaoning Port	Pair Corr
0.51	000973	FSPG Hi Tech	Pair Corr
0.51	300329	Hailun Piano	Pair Corr
0.5	688728	GalaxyCore	Pair Corr
0.46	900941	Eastern Communications	Pair Corr
0.46	688486	Lontium Semiconductor	Pair Corr
0.42	600111	China Northern Rare	Pair Corr

Related Correlations Analysis

	601615	159681	159005	300729	002952	603199	516220	002096	002999	300243
601615		0.83	0.76	0.57	-0.74	0.27	0.82	0.06	-0.72	-0.07	601615
159681	0.83		0.91	0.71	-0.81	0.67	0.95	0.08	-0.8	0.11	159681
159005	0.76	0.91		0.56	-0.79	0.58	0.89	0.04	-0.71	0.14	159005
300729	0.57	0.71	0.56		-0.38	0.65	0.71	0.21	-0.4	0.25	300729
002952	-0.74	-0.81	-0.79	-0.38		-0.38	-0.72	-0.06	0.87	0.16	002952
603199	0.27	0.67	0.58	0.65	-0.38		0.66	0.01	-0.43	0.41	603199
516220	0.82	0.95	0.89	0.71	-0.72	0.66		0.26	-0.65	0.23	516220
002096	0.06	0.08	0.04	0.21	-0.06	0.01	0.26		0.2	0.13	002096
002999	-0.72	-0.8	-0.71	-0.4	0.87	-0.43	-0.65	0.2		0.29	002999
300243	-0.07	0.11	0.14	0.25	0.16	0.41	0.23	0.13	0.29		300243
	601615	159681	159005	300729	002952	603199	516220	002096	002999	300243

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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

516220	+ 0.95	159681
159005	+ 0.91	159681
516220	+ 0.89	159005
002999	+ 0.87	002952
159681	+ 0.83	601615
516220	+ 0.82	601615

High negative correlations

002952	- 0.81	159681
002999	- 0.8	159681
002952	- 0.79	159005
002952	- 0.74	601615
516220	- 0.72	002952
002999	- 0.72	601615

Risk-Adjusted Indicators

There is a big difference between Ningbo Stock performing well and Ningbo Thermal 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 Ningbo Thermal'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
601615	1.98	0.66	0.37	4.13	1.27	(2.47)	6.93	(2.66)	11.72
159681	1.60	0.63	0.28	1.23	1.36	(2.26)	3.74	(2.24)	10.52
159005	0.01	(0.01)	(2.35)	2.95	0.00	(0.04)	0.01	(0.01)	0.12
300729	1.11	0.03	0.01	(1.82)	1.35	(1.31)	3.10	(2.19)	7.80
002952	1.21	(0.21)	0.00	0.51	0.00	0.00	2.42	(2.64)	6.46
603199	0.91	(0.03)	0.00	3.77	0.00	0.00	1.57	(2.22)	8.25
516220	1.16	0.38	0.19	(3.55)	0.93	(1.81)	2.74	(1.56)	7.36
002096	1.83	0.23	0.07	(0.98)	2.35	(1.85)	3.37	(4.03)	18.78
002999	0.99	(0.08)	0.00	0.24	0.00	0.00	1.72	(2.51)	5.15
300243	1.73	(0.05)	0.00	(3.17)	0.00	0.00	3.73	(3.18)	10.84

Ningbo Thermal Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Ningbo Thermal stock to make a market-neutral strategy. Peer analysis of Ningbo Thermal could also be used in its relative valuation, which is a method of valuing Ningbo Thermal by comparing valuation metrics with similar companies.

Ming Yang Smart 159681 159005 Loctek Ergonomic Technology Yes Optoelectronics Co Anhui Jiuhuashan Tourism 516220 Hunan Nanling Industrial Guangdong Tianhe Agricultural Shandong Ruifeng Chemical American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Ningbo Thermal Corporate Management

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

Guang Yang	Accounting Supervisor	Profile
Yu Hong	Chief Engineer	Profile
Xueling Xia	Financial GM	Profile
Yi Zheng	Chief Economist	Profile
Junjun Zhang	Deputy Manager	Profile
Qi Shen	Deputy Secretary	Profile

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