Chindata Group Correlations

CD
 Stock
  

USD 7.76  0.33  4.44%   

The correlation of Chindata Group is a statistical measure of how it moves in relation to other equities. 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 Chindata Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chindata Group Holdings 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.
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The ability to find closely correlated positions to Chindata Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chindata Group 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 Chindata Group - 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 Chindata Group Holdings to buy it.

Moving together with Chindata Group

0.74CSPIC S PPairCorr

Moving against Chindata Group

0.8BBAIBigbearAi HoldingsPairCorr
0.66DMRCDigimarc CorpPairCorr
0.56AURAurora InnovationPairCorr
0.52CTSHCognizant Tech SolPairCorr
0.51CNDTConduentPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
BRACN
CACIBR
CSCOINTC
CACIACN
CSCOACN
ALNABR
  

Chindata Group Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Chindata Group stock performing well and Chindata Group company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Chindata Group's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
ACN 1.78  0.05  0.00 (0.15)  0.00 (0.0179)  0.00  3.54 (4.30)  9.35 
BR 1.55  0.13  0.00 (0.06)  0.00  0.05  0.00  2.32 (3.90)  8.86 
CACI 1.30 (0.04)  0.00 (0.24)  0.00  0.0086  0.00  2.27 (2.90)  6.69 
ALNA 9.18  1.57  0.13  0.70  7.72  0.08 (18.09)  9.09 (15.38)  82.05 
INTC 1.82 (0.23)  0.00 (0.35)  0.00 (0.13)  0.00  3.14 (3.64)  10.50 
PG 1.22  0.03  0.00 (0.13)  0.00  0.0495  0.00  2.54 (2.30)  8.89 
VZ 1.04  0.10  0.11  0.02  1.68  0.12 (1.03)  2.30 (2.42)  7.94 
CAT 1.71 (0.09)  0.00 (0.26)  0.00 (0.0437)  0.00  3.20 (4.35)  10.92 
CSCO 1.58 (0.16)  0.00 (0.33)  0.00 (0.07)  0.00  2.73 (3.26)  17.06 

Similar Equity Warning - CD

Chindata Group Holdings was forked

The entity Chindata Group Holdings with a symbol CD was recently forked. You can potentially use Avis Budget Group with a symbol CAR from now on.

Chindata Group Corporate Executives

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

Investing Chindata Group Holdings

You need to understand the risk of investing before taking a position in Chindata Group. The danger of trading Chindata Group Holdings is mainly related to its market volatility and company 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 Chindata Group 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 Chindata Group. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Chindata Group Holdings 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.
Continue to Trending Equities. Note that the Chindata Group Holdings information on this page should be used as a complementary analysis to other Chindata Group'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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.

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When running Chindata Group Holdings price analysis, check to measure Chindata Group'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 Chindata Group is operating at the current time. Most of Chindata Group's value examination focuses on studying past and present price action to predict the probability of Chindata Group's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Chindata Group's price. Additionally, you may evaluate how the addition of Chindata Group to your portfolios can decrease your overall portfolio volatility.
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Is Chindata Group's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Chindata Group. If investors know Chindata will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Chindata Group listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Chindata Group Holdings is measured differently than its book value, which is the value of Chindata that is recorded on the company's balance sheet. Investors also form their own opinion of Chindata Group's value that differs from its market value or its book value, called intrinsic value, which is Chindata Group's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Chindata Group's market value can be influenced by many factors that don't directly affect Chindata Group's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Chindata Group's value and its price as these two are different measures arrived at by different means. Investors typically determine Chindata Group value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Chindata Group's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.