Fujian Sanmu Correlations

000632 Stock

7.57 0.69 10.03%

The current 90-days correlation between Fujian Sanmu Group and Tongding Interconnection Information is -0.17 (i.e., Good diversification). The correlation of Fujian Sanmu 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.

Fujian Sanmu Correlation With Market

Average diversification

The correlation between Fujian Sanmu Group and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Sanmu Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Fujian Sanmu could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fujian Sanmu 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 Fujian Sanmu - 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 Fujian Sanmu Group to buy it.

Moving together with Fujian Stock

0.65	601988	Bank of China	Pair Corr
0.71	601857	PetroChina	Pair Corr
0.73	600036	China Merchants Bank	Pair Corr
0.86	600938	CNOOC Limited	Pair Corr
0.74	601318	Ping An Insurance	Pair Corr
0.73	601328	Bank of Communications	Pair Corr
0.66	600408	Shanxi Antai Group	Pair Corr
0.62	000609	Beijing Mainstreets	Pair Corr
0.66	300518	Shenzhen Shengxunda	Pair Corr
0.63	603727	Bomesc Offshore Engi	Pair Corr
0.68	300268	Joyvio Agriculture	Pair Corr
0.86	002192	Youngy	Pair Corr

Moving against Fujian Stock

0.5	688008	Montage Technology	Pair Corr
0.4	601598	Sinotrans Class	Pair Corr
0.49	301077	Hangzhou Chinastars	Pair Corr
0.38	600651	Shanghai Feilo Acoustics	Pair Corr

Related Correlations Analysis

	002491	600901	300343	300857	688479	002152	000889
002491		-0.33	0.15	-0.13	0.02	0.41	-0.45	002491
600901	-0.33		0.65	0.1	0.3	-0.83	0.75	600901
300343	0.15	0.65		-0.33	0.41	-0.47	0.54	300343
300857	-0.13	0.1	-0.33		-0.15	-0.08	0.08	300857
688479	0.02	0.3	0.41	-0.15		-0.01	0.57	688479
002152	0.41	-0.83	-0.47	-0.08	-0.01		-0.63	002152
000889	-0.45	0.75	0.54	0.08	0.57	-0.63		000889
	002491	600901	300343	300857	688479	002152	000889

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

000889	+ 0.75	600901
300343	+ 0.65	600901
000889	+ 0.57	688479
000889	+ 0.54	300343
002152	+ 0.41	002491
688479	+ 0.41	300343

High negative correlations

002152	- 0.83	600901
000889	- 0.63	002152
002152	- 0.47	300343
000889	- 0.45	002491
300857	- 0.33	300343
600901	- 0.33	002491

Risk-Adjusted Indicators

There is a big difference between Fujian Stock performing well and Fujian Sanmu 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 Fujian Sanmu'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
002491	2.00	(0.02)	(0.02)	0.04	2.78	(1.97)	3.33	(3.53)	19.81
600901	1.09	0.13	0.06	0.47	1.23	(1.28)	2.21	(2.10)	8.05
300343	2.00	0.17	0.05	0.36	2.35	(2.28)	5.03	(3.43)	14.38
300857	3.68	0.49	0.13	0.49	3.53	(4.44)	9.02	(7.52)	22.50
688479	1.07	(0.10)	0.00	(0.63)	0.00	0.00	1.88	(2.36)	9.19
002152	1.53	(0.26)	0.00	(1.49)	0.00	0.00	2.93	(3.34)	9.48
000889	1.92	(0.03)	(0.02)	0.04	2.18	(2.30)	5.07	(2.80)	16.73

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fujian Sanmu 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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