HUTCHMED China Correlations

Stocks . UK . 
Stock . HUTCHMED China
HCM Stock   196.50  3.50  1.81%   
The correlation of HUTCHMED China 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.

HUTCHMED China Correlation With Market

Modest diversification

The correlation between HUTCHMED China and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HUTCHMED China and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to HUTCHMED China could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HUTCHMED China 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 HUTCHMED China - 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 HUTCHMED China to buy it.

Moving together with HUTCHMED Stock

  0.67WKOF Weiss Korea OpportunityPairCorr
  0.66CHRY Chrysalis InvestmentsPairCorr

Moving against HUTCHMED Stock

  0.85BAKK Bakkavor Group PLCPairCorr
  0.840P6S Bayer AG NAPairCorr
  0.83RMMC River and MercantilePairCorr
  0.760Y5F Endo International PLCPairCorr
  0.74IHG InterContinental HotelsPairCorr
  0.74USA Baillie Gifford GrowthPairCorr
  0.71ICGC Irish ContinentalPairCorr
  0.69GBSS Gold Bullion SecuritiesPairCorr
  0.66SSE SSE PLCPairCorr
  0.640KED Infineon TechnologiesPairCorr
  0.60V5H Manulife Financial CorpPairCorr
  0.59ALK Alkemy Capital InvesPairCorr
  0.540HL5 Ball CorpPairCorr
  0.45CUSN Cornish MetalsPairCorr
  0.390QZ3 QualcommPairCorr
  0.37WIZZ Wizz Air HoldingsPairCorr
  0.36PPHC Public Policy Holding SplitPairCorr
  0.32MRC The Mercantile InvestmentPairCorr
  0.87APN Applied Nutrition PlcPairCorr
  0.840J71 JB Hunt TransportPairCorr
  0.810N4T Nordea Bank AbpPairCorr
  0.77STEM SThree plcPairCorr
  0.74STAN Standard Chartered PLCPairCorr
  0.74ESO EPE Special OpportunitiesPairCorr
  0.740UKI Bank of NovaPairCorr
  0.73MNG MG PlcPairCorr
  0.73RE-B REA Holdings plcPairCorr
  0.72BNC Banco Santander SAPairCorr
  0.72PCFT Polar Capital GlobalPairCorr

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

BC94
+ 1.0
SMSN
SMSD
+ 0.95
SMSN
BC94
+ 0.95
SMSD
RIGD
+ 0.94
SBID
RIGD
+ 0.71
SMSN
RIGD
+ 0.71
BC94
  

High negative correlations

HSBK
- 0.25
SBID
HSBK
- 0.13
RIGD

Risk-Adjusted Indicators

There is a big difference between HUTCHMED Stock performing well and HUTCHMED China 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 HUTCHMED China'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 HUTCHMED China 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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HUTCHMED China Corporate Management

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