Hongkong Land Correlations
| HKHGFDelisted Stock | USD 3.70 0.00 0.00% |
The current 90-days correlation between Hongkong Land Holdings and Western Union Co is 0.05 (i.e., Significant diversification). The correlation of Hongkong Land 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.
Hongkong Land Correlation With Market
Significant diversification
The correlation between Hongkong Land Holdings and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hongkong Land Holdings and DJI in the same portfolio, assuming nothing else is changed.
Hongkong |
The ability to find closely correlated positions to Hongkong Land could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hongkong Land 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 Hongkong Land - 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 Hongkong Land Holdings to buy it.
Moving together with Hongkong Pink Sheet
| 0.77 | SUHJY | Sun Hung Kai | PairCorr |
| 0.76 | SUHJF | Sun Hung Kai | PairCorr |
| 0.79 | PTAIY | Astra International Tbk | PairCorr |
| 0.66 | PIFMY | Indofood Sukses Makmur | PairCorr |
| 0.65 | PUTKY | United Tractors Tbk | PairCorr |
| 0.82 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.63 | HD | Home Depot Sell-off Trend | PairCorr |
| 0.75 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.83 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.7 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.68 | PG | Procter Gamble | PairCorr |
| 0.61 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
Moving against Hongkong Pink Sheet
| 0.87 | PIFMF | PT Indofood Sukses | PairCorr |
| 0.71 | CRBJF | China Resources Land | PairCorr |
| 0.66 | CHVKF | China Vanke | PairCorr |
| 0.65 | EC | Ecopetrol SA ADR Sell-off Trend | PairCorr |
| 0.64 | CAOVY | China Overseas Land | PairCorr |
| 0.62 | CRBJY | China Resources Land | PairCorr |
| 0.55 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.44 | PTITF | PT Indosat Tbk | PairCorr |
| 0.4 | CHKGF | CK Asset Holdings | PairCorr |
| 0.33 | CHVKY | China Vanke | PairCorr |
| 0.64 | INTC | Intel Aggressive Push | PairCorr |
| 0.56 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.32 | MRK | Merck Company Sell-off Trend | PairCorr |
Related Correlations Analysis
| 0.42 | 0.52 | -0.46 | -0.48 | 0.0 | CCU | ||
| 0.42 | 0.68 | -0.22 | -0.08 | 0.0 | WU | ||
| 0.52 | 0.68 | -0.55 | -0.19 | 0.0 | PT | ||
| -0.46 | -0.22 | -0.55 | 0.22 | 0.0 | JUVF | ||
| -0.48 | -0.08 | -0.19 | 0.22 | 0.0 | FDVA | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | CHBAY | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between Hongkong Pink Sheet performing well and Hongkong Land 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 Hongkong Land'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CCU | 1.29 | (0.29) | 0.00 | (0.24) | 0.00 | 2.81 | 8.82 | |||
| WU | 1.08 | (0.12) | 0.00 | (0.07) | 0.00 | 1.77 | 10.77 | |||
| PT | 1.01 | 0.02 | (0.06) | 0.37 | 1.05 | 2.91 | 6.69 | |||
| JUVF | 1.51 | (0.03) | 0.00 | 0.27 | 0.00 | 2.95 | 11.05 | |||
| FDVA | 0.56 | 0.11 | 0.03 | 0.57 | 0.29 | 2.01 | 3.92 | |||
| CHBAY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Hongkong Land 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 Hongkong Land pink sheet to make a market-neutral strategy. Peer analysis of Hongkong Land could also be used in its relative valuation, which is a method of valuing Hongkong Land by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Hongkong Land Holdings?
Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.