Eoptolink Technology Correlations

300502 Stock

182.32 1.18 0.64%

The current 90-days correlation between Eoptolink Technology and Beijing HuaYuanYiTong Thermal is -0.13 (i.e., Good diversification). The correlation of Eoptolink Technology 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.

Eoptolink Technology Correlation With Market

Significant diversification

The correlation between Eoptolink Technology and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eoptolink Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Eoptolink Stock

0.9	601288	Agricultural Bank	Pair Corr
0.71	601939	China Construction Bank	Pair Corr
0.94	600016	China Minsheng Banking	Pair Corr
0.83	601398	Industrial and Commercial	Pair Corr
0.87	600000	Shanghai Pudong Deve	Pair Corr
0.8	601857	PetroChina	Pair Corr
0.78	601328	Bank of Communications	Pair Corr
0.76	605566	Hangzhou Flariant	Pair Corr
0.75	300801	Taihe Technologies	Pair Corr
0.81	301113	Zhejiang Yayi Metal Split	Pair Corr
0.68	300750	Contemporary Amperex	Pair Corr
0.86	000995	Gansu Huangtai Wine	Pair Corr
0.79	603002	Epoxy Base Electronic	Pair Corr
0.62	002792	Tongyu Communication	Pair Corr
0.96	300394	Suzhou TFC Optical Split	Pair Corr
0.82	600711	Chengtun Mining Group	Pair Corr
0.8	300148	Tangel Publishing	Pair Corr

Moving against Eoptolink Stock

0.79

600519

Kweichow Moutai

Pair Corr

Related Correlations Analysis

	002893	603132	301288	300664	601609	600711	000692	301203
002893		0.65	0.44	0.74	0.71	0.7	0.88	0.82	002893
603132	0.65		0.68	0.91	0.72	0.8	0.77	0.92	603132
301288	0.44	0.68		0.74	0.38	0.41	0.71	0.67	301288
300664	0.74	0.91	0.74		0.69	0.74	0.89	0.94	300664
601609	0.71	0.72	0.38	0.69		0.81	0.68	0.8	601609
600711	0.7	0.8	0.41	0.74	0.81		0.63	0.85	600711
000692	0.88	0.77	0.71	0.89	0.68	0.63		0.88	000692
301203	0.82	0.92	0.67	0.94	0.8	0.85	0.88		301203
	002893	603132	301288	300664	601609	600711	000692	301203

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Risk-Adjusted Indicators

There is a big difference between Eoptolink Stock performing well and Eoptolink Technology 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 Eoptolink Technology'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
002893	1.01	0.15	0.05	0.56	0.97	(1.15)	2.42	(1.62)	6.19
603132	0.91	0.21	0.12	1.18	0.58	(1.13)	2.08	(1.43)	11.69
301288	1.74	0.15	0.03	0.69	1.75	(2.10)	4.39	(2.83)	12.43
300664	0.87	0.21	0.09	1.67	0.79	(1.05)	2.27	(1.09)	7.86
601609	1.56	0.58	0.29	(6.34)	1.04	(2.25)	5.04	(1.40)	16.08
600711	1.56	0.37	0.11	3.67	1.71	(1.61)	4.06	(2.49)	10.65
000692	1.07	0.19	0.07	0.85	1.13	(1.30)	2.72	(1.98)	7.55
301203	0.93	0.24	0.12	1.39	0.80	(1.14)	2.06	(1.40)	4.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Eoptolink Technology 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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