Changsha Jingjia Correlations

300474 Stock

76.71 0.69 0.91%

The current 90-days correlation between Changsha Jingjia Mic and Ming Yang Smart is 0.11 (i.e., Average diversification). The correlation of Changsha Jingjia 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.

Changsha Jingjia Correlation With Market

Significant diversification

The correlation between Changsha Jingjia Microelectron and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Changsha Jingjia Microelectron and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Changsha Stock

0.83	301511	Jiujiang Defu Technology	Pair Corr
0.78	301357	North Long Dragon	Pair Corr
0.69	002368	Taiji Computer Corp	Pair Corr
0.64	301293	Sanbo Hospital Management	Pair Corr
0.61	688486	Lontium Semiconductor	Pair Corr
0.73	002148	Beijing Bewinner Com	Pair Corr
0.74	300440	Chengdu Yunda Technology	Pair Corr
0.71	000034	Digital China Group	Pair Corr
0.71	600918	Zhongtai Securities	Pair Corr

Moving against Changsha Stock

0.64

600025

Huaneng Lancang River

Pair Corr

Related Correlations Analysis

	601615	159681	159005	300729	002952	603199	516220	002096	002999	300243
601615		0.78	0.78	0.43	-0.41	0.1	0.8	-0.01	-0.72	-0.12	601615
159681	0.78		0.89	0.67	-0.67	0.61	0.95	0.0	-0.83	0.09	159681
159005	0.78	0.89		0.51	-0.55	0.47	0.88	-0.05	-0.72	0.13	159005
300729	0.43	0.67	0.51		-0.34	0.64	0.66	0.17	-0.38	0.25	300729
002952	-0.41	-0.67	-0.55	-0.34		-0.41	-0.55	0.03	0.73	0.1	002952
603199	0.1	0.61	0.47	0.64	-0.41		0.57	-0.02	-0.36	0.42	603199
516220	0.8	0.95	0.88	0.66	-0.55	0.57		0.17	-0.69	0.2	516220
002096	-0.01	0.0	-0.05	0.17	0.03	-0.02	0.17		0.22	0.14	002096
002999	-0.72	-0.83	-0.72	-0.38	0.73	-0.36	-0.69	0.22		0.31	002999
300243	-0.12	0.09	0.13	0.25	0.1	0.42	0.2	0.14	0.31		300243
	601615	159681	159005	300729	002952	603199	516220	002096	002999	300243

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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

516220	+ 0.95	159681
159005	+ 0.89	159681
516220	+ 0.88	159005
516220	+ 0.8	601615
159681	+ 0.78	601615
159005	+ 0.78	601615

High negative correlations

002999	- 0.83	159681
002999	- 0.72	159005
002999	- 0.72	601615
002999	- 0.69	516220
002952	- 0.67	159681
516220	- 0.55	002952

Risk-Adjusted Indicators

There is a big difference between Changsha Stock performing well and Changsha Jingjia 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 Changsha Jingjia'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
601615	2.14	0.69	0.34	2.06	1.48	(2.66)	7.24	(3.31)	12.65
159681	1.67	0.56	0.22	1.76	1.58	(2.26)	3.74	(2.65)	12.51
159005	0.01	(0.01)	(5.37)	5.09	0.00	(0.04)	0.01	(0.01)	0.12
300729	1.13	0.06	0.00	(0.28)	1.35	(1.35)	3.10	(2.19)	7.80
002952	1.45	0.13	0.05	1.11	1.54	(1.59)	2.92	(2.63)	6.46
603199	0.92	(0.03)	0.00	0.69	0.00	0.00	1.57	(2.22)	8.25
516220	1.21	0.34	0.13	(1.16)	1.12	(1.81)	2.74	(1.56)	7.36
002096	1.85	0.20	0.05	(0.49)	2.39	(1.88)	3.37	(4.03)	18.78
002999	0.96	(0.07)	0.00	0.22	0.00	0.00	1.72	(2.51)	5.15
300243	1.71	0.01	(0.03)	(0.04)	1.92	(1.83)	3.73	(2.96)	10.84

Be your own money manager

Our tools can tell you how much better you can do entering a position in Changsha Jingjia 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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