Projected Return Density against MarketAssuming 30 trading days horizon, China Petroleum Chemical Corporation has beta of -0.15 . This suggests as returns on benchmark increase, returns on holding China are expected to decrease at a much smaller rate. During bear market, however, China Petroleum Chemical Corporation is likely to outperform the market. Additionally, China Petroleum Chemical Corporation has negative alpha implying that risk taken by holding this equity is not justified. The company is significantly underperforming S&P 500 Assuming 30 trading days horizon, the coefficient of variation of China is -765.39. The daily returns are destributed with a variance of 3.81 and standard deviation of 1.95. The mean deviation of China Petroleum Chemical Corporation is currently at 1.41. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.49
Actual Return VolatilityChina Petroleum Chemical Corporation accepts 1.95% volatility on return distribution over the 30 days horizon. S&P 500 shows 0.49% volatility of returns over 30 trading days.
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China Petroleum Chemical Corporation has a volatility of 1.95 and is 3.98 times more volatile than S&P 500. 20% of all equities and portfolios are less risky than China. Compared with the overall equity markets, volatility of historical daily returns of China Petroleum Chemical Corporation is lower than 20 (%) of all global equities and portfolios over the last 30 days. Use China Petroleum Chemical Corporation to protect against small markets fluctuations. The stock experiences normal downward trend, but the immediate impact on correlations cannot be determined at the moment . Check odds of China to be traded at Y4.64 in 30 days. As returns on market increase, returns on owning China are expected to decrease at a much smaller rate. During bear market, China is likely to outperform the market.
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