China Pacific Correlations

CPIC Stock

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The current 90-days correlation between China Pacific Insurance and Cognizant Technology Solutions is 0.05 (i.e., Significant diversification). The correlation of China Pacific 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. If the correlation is 0, the equities are not correlated; they are entirely random.

China Pacific Correlation With Market

Significant diversification

The correlation between China Pacific Insurance and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Pacific Insurance and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to China Pacific 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 Pacific 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 Pacific - 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 Pacific Insurance to buy it.

Moving together with China Stock

0.91	0QZ5	Cognizant Technology	Pair Corr
0.64	0K80	NextEra Energy	Pair Corr
0.89	0HQP	CBRE Group Cl	Pair Corr
0.75	0KS2	Public Service Enterprise	Pair Corr
0.74	0TCU	Howmet Aerospace	Pair Corr
0.63	ADM	Admiral Group PLC	Pair Corr
0.77	SBTX	SkinBioTherapeutics PLC	Pair Corr

Moving against China Stock

0.84	MRIT	Merit Group PLC	Pair Corr
0.81	PLAZ	Plaza Centers NV	Pair Corr
0.8	AAL	Anglo American PLC	Pair Corr
0.8	MIND	Mind Gym	Pair Corr
0.74	TYT	Toyota Motor Corp	Pair Corr

Related Correlations Analysis

	0QZ5	LINV	NMT	0R8Q	AATG	JUP	SUPR	AEO	JLEN	POW
0QZ5		0.34	-0.29	-0.78	0.74	0.78	0.81	-0.35	0.84	-0.6	0QZ5
LINV	0.34		0.04	-0.45	0.36	0.2	0.08	0.17	0.12	-0.41	LINV
NMT	-0.29	0.04		0.39	0.05	-0.12	-0.5	0.39	-0.39	0.28	NMT
0R8Q	-0.78	-0.45	0.39		-0.4	-0.53	-0.68	0.31	-0.55	0.48	0R8Q
AATG	0.74	0.36	0.05	-0.4		0.62	0.52	-0.07	0.68	-0.6	AATG
JUP	0.78	0.2	-0.12	-0.53	0.62		0.71	-0.18	0.8	-0.25	JUP
SUPR	0.81	0.08	-0.5	-0.68	0.52	0.71		-0.51	0.83	-0.51	SUPR
AEO	-0.35	0.17	0.39	0.31	-0.07	-0.18	-0.51		-0.41	0.27	AEO
JLEN	0.84	0.12	-0.39	-0.55	0.68	0.8	0.83	-0.41		-0.55	JLEN
POW	-0.6	-0.41	0.28	0.48	-0.6	-0.25	-0.51	0.27	-0.55		POW
	0QZ5	LINV	NMT	0R8Q	AATG	JUP	SUPR	AEO	JLEN	POW

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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

JLEN	+ 0.84	0QZ5
JLEN	+ 0.83	SUPR
SUPR	+ 0.81	0QZ5
JLEN	+ 0.8	JUP
JUP	+ 0.78	0QZ5
AATG	+ 0.74	0QZ5

High negative correlations

0R8Q	- 0.78	0QZ5
SUPR	- 0.68	0R8Q
POW	- 0.6	AATG
POW	- 0.6	0QZ5
POW	- 0.55	JLEN
JLEN	- 0.55	0R8Q

Risk-Adjusted Indicators

There is a big difference between China Stock performing well and China Pacific 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 Pacific'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
0QZ5	0.93	0.20	0.12	0.39	1.04	(1.00)	2.30	(1.35)	7.81
LINV	0.58	(0.06)	0.00	(3.07)	0.00	0.00	1.82	(1.72)	9.05
NMT	2.72	(0.72)	0.00	(0.33)	0.00	0.00	5.88	(11.11)	31.52
0R8Q	1.26	(0.14)	0.00	(0.16)	0.00	0.00	2.28	(3.33)	8.59
AATG	0.34	0.09	0.00	(0.32)	0.00	0.00	2.21	0.00	4.41
JUP	1.56	0.11	0.06	0.22	1.64	(1.92)	4.08	(3.28)	10.85
SUPR	0.94	0.11	0.04	0.65	0.79	(1.09)	2.32	(1.73)	4.70
AEO	0.48	(0.05)	0.00	1.25	0.00	0.00	1.72	(1.71)	11.00
JLEN	0.85	0.20	0.10	0.71	1.00	(0.94)	1.89	(1.57)	6.82
POW	2.14	(0.35)	0.00	(0.34)	0.00	0.00	4.11	(4.55)	15.86

Be your own money manager

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