ZheJiang ZhongKe Correlations

301141 Stock

67.85 0.55 0.82%

The current 90-days correlation between ZheJiang ZhongKe Magnetic and Chengdu Spaceon Electronics is 0.17 (i.e., Average diversification). The correlation of ZheJiang ZhongKe 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.

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

Moving together with ZheJiang Stock

0.88	601857	PetroChina	Pair Corr
0.78	601398	Industrial and Commercial	Pair Corr
0.62	601939	China Construction Bank	Pair Corr
0.84	601288	Agricultural Bank	Pair Corr
0.81	600938	CNOOC Limited	Pair Corr
0.82	601658	Postal Savings Bank	Pair Corr
0.83	601318	Ping An Insurance	Pair Corr
0.86	603993	China Molybdenum	Pair Corr
0.83	002227	Shenzhen Auto Electric	Pair Corr
0.86	601825	Shanghai Rural Commercial	Pair Corr
0.62	600243	Qinghaihuading Industrial	Pair Corr
0.95	300394	Suzhou TFC Optical Split	Pair Corr
0.8	002671	Shandong Longquan	Pair Corr
0.82	300985	Changchun Zhiyuan New	Pair Corr
0.73	002557	Chacha Food	Pair Corr
0.85	601665	Qilu Bank	Pair Corr
0.63	300942	Shenzhen Bioeasy Bio	Pair Corr
0.97	600366	Ningbo Yunsheng	Pair Corr
0.64	002831	ShenZhen YUTO Packaging	Pair Corr
0.86	300866	Anker Innovations	Pair Corr

Moving against ZheJiang Stock

0.53

600941

China Mobile Limited

Pair Corr

Related Correlations Analysis

	002935	300369	002682	000558	300366	300288	508068	601319
002935		0.89	0.69	0.68	0.75	0.93	0.68	0.84	002935
300369	0.89		0.45	0.69	0.61	0.94	0.44	0.64	300369
002682	0.69	0.45		0.27	0.85	0.6	0.55	0.75	002682
000558	0.68	0.69	0.27		0.26	0.68	0.46	0.58	000558
300366	0.75	0.61	0.85	0.26		0.72	0.56	0.73	300366
300288	0.93	0.94	0.6	0.68	0.72		0.46	0.71	300288
508068	0.68	0.44	0.55	0.46	0.56	0.46		0.84	508068
601319	0.84	0.64	0.75	0.58	0.73	0.71	0.84		601319
	002935	300369	002682	000558	300366	300288	508068	601319

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Risk-Adjusted Indicators

There is a big difference between ZheJiang Stock performing well and ZheJiang ZhongKe 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 ZheJiang ZhongKe'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
002935	1.18	0.29	0.06	(3.69)	0.91	(1.41)	2.78	(1.75)	5.92
300369	1.33	0.23	0.04	1.46	1.26	(1.45)	3.44	(2.25)	8.59
002682	2.11	0.18	0.03	0.53	2.48	(2.28)	4.19	(4.06)	15.90
000558	2.23	0.02	(0.04)	0.26	2.88	(2.31)	5.22	(4.31)	15.87
300366	2.47	0.29	0.10	0.52	2.22	(3.00)	5.60	(4.83)	26.43
300288	1.27	0.22	0.02	2.29	1.53	(1.32)	2.83	(2.52)	6.67
508068	0.53	0.01	(0.28)	0.08	0.63	(0.67)	0.98	(0.95)	2.82
601319	1.06	0.09	0.04	0.31	0.81	(1.20)	2.47	(1.62)	12.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in ZheJiang ZhongKe 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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