China Health Correlations
| CHHE Stock | USD 0.29 0.00 0.00% |
The correlation of China Health 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as China Health moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if China Health Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very good diversification
The correlation between China Health Industries and NYA is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Health Industries and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to China Health 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 Health 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 Health - 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 Health Industries to buy it.
Moving together with China OTC Stock
| 0.81 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.9 | TLK | Telkom Indonesia Tbk Financial Report 26th of April 2024 | PairCorr |
| 0.76 | JNJ | Johnson Johnson Aggressive Push | PairCorr |
| 0.84 | MCD | McDonalds Earnings Call This Week | PairCorr |
Moving against China OTC Stock
| 0.89 | XOM | Exxon Mobil Corp Earnings Call Tomorrow | PairCorr |
| 0.85 | GE | GE Aerospace Financial Report 23rd of July 2024 | PairCorr |
| 0.84 | CVX | Chevron Corp Earnings Call Tomorrow | PairCorr |
| 0.84 | CAT | Caterpillar Earnings Call Today | PairCorr |
| 0.78 | MMM | 3M Company Earnings Call This Week | PairCorr |
| 0.76 | PTITF | PT Indosat Tbk | PairCorr |
| 0.66 | DIS | Walt Disney Report 8th of May 2024 | PairCorr |
| 0.65 | MRK | Merck Company Earnings Call Today | PairCorr |
| 0.64 | PUTKY | United Tractors Tbk | PairCorr |
| 0.57 | EC | Ecopetrol SA ADR Financial Report 8th of May 2024 | PairCorr |
| 0.56 | PIFMF | PT Indofood Sukses | PairCorr |
| 0.53 | WMT | Walmart Financial Report 16th of May 2024 | PairCorr |
| 0.44 | TRV | The Travelers Companies Financial Report 18th of July 2024 | PairCorr |
| 0.41 | MSFT | Microsoft Earnings Call Today | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between China OTC Stock performing well and China Health OTC Stock 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 Health'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 China Health 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.Did you try this?
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Already Invested in China Health Industries?
The danger of trading China Health Industries is mainly related to its market volatility and OTC Stock specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of China Health is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than China Health. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile China Health Industries is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in China Health Industries. Also, note that the market value of any otc stock could be tightly coupled with the direction of predictive economic indicators such as signals in rate. Note that the China Health Industries information on this page should be used as a complementary analysis to other China Health's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Complementary Tools for China OTC Stock analysis
When running China Health's price analysis, check to measure China Health's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy China Health is operating at the current time. Most of China Health's value examination focuses on studying past and present price action to predict the probability of China Health's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move China Health's price. Additionally, you may evaluate how the addition of China Health to your portfolios can decrease your overall portfolio volatility.
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