Shenzhen Zhenye Correlations

Stocks China . 
Stock . Shenzhen Zhenye Group
000006 Stock   7.74  0.01  0.13%   
The current 90-days correlation between Shenzhen Zhenye Group and PetroChina Co Ltd is 0.05 (i.e., Significant diversification). The correlation of Shenzhen Zhenye 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.

Shenzhen Zhenye Correlation With Market

Average diversification

The correlation between Shenzhen Zhenye 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 Shenzhen Zhenye Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Shenzhen Zhenye could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shenzhen Zhenye 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 Shenzhen Zhenye - 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 Shenzhen Zhenye Group to buy it.

Moving together with Shenzhen Stock

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  0.7300433 Lens TechnologyPairCorr
  0.68002400 Guangdong AdvertisingPairCorr
  0.73002217 Holitech TechnologyPairCorr
  0.63000560 5I5j Holding GroupPairCorr
  0.73002466 Sichuan Tianqi LithiumPairCorr
  0.85600633 Zhejiang Daily MediaPairCorr
  0.83000506 Zhongrun ResourcesPairCorr
  0.77688507 Shanghai Suochen InfPairCorr
  0.65002074 Gotion High techPairCorr
  0.7002575 Guangdong Qunxing ToysPairCorr
  0.78300825 Iat Automobile TechnologyPairCorr
  0.79688325 Guangdong CellwisePairCorr
  0.66002303 Shenzhen MYS EnvironPairCorr
  0.72600335 Sinomach AutomobilePairCorr
  0.8603818 Qumei Furniture GroupPairCorr
  0.74002946 New Hope DairyPairCorr
  0.68300880 Ningbo Jianan ElectronicsPairCorr
  0.81301379 Techshine ElectronicsPairCorr
  0.82002382 Blue Sail MedicalPairCorr
  0.82300815 Eit EnvironmentalPairCorr
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Related Correlations Analysis

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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   
600938
+ 0.94
601857
601668
+ 0.93
601318
601628
+ 0.93
601318
601628
+ 0.87
601668
600519
+ 0.86
601318
600028
+ 0.84
600938
  
High negative correlations   
601628
- 0.08
600028

Risk-Adjusted Indicators

There is a big difference between Shenzhen Stock performing well and Shenzhen Zhenye 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 Shenzhen Zhenye'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601857  1.34  0.21  0.08  11.37  1.80 
(1.75)
 3.55 
(2.01)
 17.17 
600941  1.07  0.21  0.15 (9.05) 0.95 
(1.38)
 3.09 
(2.04)
 8.38 
600938  1.40  0.17  0.06 (3.20) 1.87 
(1.53)
 3.83 
(2.13)
 16.49 
601318  1.79  0.31  0.12  0.95  1.94 
(2.21)
 5.83 
(2.88)
 19.77 
600028  1.18  0.08  0.03  0.74  1.58 
(1.31)
 2.51 
(1.89)
 10.77 
601728  1.42  0.31  0.15  1.24  1.56 
(1.59)
 3.49 
(2.45)
 11.12 
601668  1.86  0.33  0.11  0.99  2.16 
(2.03)
 5.25 
(3.67)
 15.78 
600519  1.62  0.30  0.14  1.03  1.57 
(2.01)
 6.55 
(2.41)
 16.71 
601088  1.55  0.17  0.07  9.10  1.57 
(1.77)
 4.28 
(2.66)
 10.24 
601628  2.11  0.32  0.10  0.84  2.55 
(2.26)
 6.42 
(3.94)
 20.00 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shenzhen Zhenye 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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