Gotion High Correlations

002074 Stock

21.82 0.09 0.41%

The current 90-days correlation between Gotion High tech and Industrial and Commercial is 0.02 (i.e., Significant diversification). The correlation of Gotion High 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 Gotion High could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gotion High 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 Gotion High - 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 Gotion High tech to buy it.

Moving together with Gotion Stock

0.78	200468	Nanjing Putian Telec	Pair Corr
0.66	600322	Tianjin Realty Devel	Pair Corr
0.84	300391	Kangyue Technology	Pair Corr
0.64	000692	Shenyang Huitian Thermal	Pair Corr
0.72	300301	Shenzhen Changfang Light	Pair Corr
0.67	300013	Jiangsu Xinning Modern	Pair Corr
0.86	688325	Guangdong Cellwise	Pair Corr
0.61	002217	Holitech Technology	Pair Corr
0.84	000560	5I5j Holding Group	Pair Corr
0.9	688119	Sinosteel Luonai Mat	Pair Corr
0.65	603969	Tianjin Silvery Dragon	Pair Corr
0.81	300880	Ningbo Jianan Electronics	Pair Corr
0.66	002946	New Hope Dairy	Pair Corr
0.64	000428	Huatian Hotel Group	Pair Corr
0.88	300815	Eit Environmental	Pair Corr
0.69	002584	Xilong Chemical	Pair Corr
0.78	002893	Beijing HuaYuanYiTong	Pair Corr
0.83	300433	Lens Technology	Pair Corr
0.72	600719	Dalian Thermal Power	Pair Corr
0.81	605128	Shanghai Yanpu Metal	Pair Corr
0.85	300359	Qtone Education Group	Pair Corr
0.63	002303	Shenzhen MYS Environ	Pair Corr
0.66	603068	Beken Corp	Pair Corr
0.89	688082	ACM Research Shanghai	Pair Corr
0.83	688047	Loongson Technology Corp	Pair Corr
0.7	000506	Zhongrun Resources	Pair Corr
0.61	605377	Hangzhou Huawang New	Pair Corr
0.74	603313	Healthcare	Pair Corr
0.96	002466	Sichuan Tianqi Lithium	Pair Corr
0.96	000661	Changchun High New	Pair Corr
0.88	688507	Shanghai Suochen Inf	Pair Corr
0.78	300825	Iat Automobile Technology	Pair Corr
0.88	600498	Fiberhome Telecommunicatio	Pair Corr

Related Correlations Analysis

	601398	601288	601939	601988	601658	601328	600036	601166	601998	600000
601398		0.96	0.97	0.96	0.89	0.92	0.77	0.74	0.86	0.66	601398
601288	0.96		0.93	0.96	0.85	0.89	0.66	0.67	0.79	0.57	601288
601939	0.97	0.93		0.91	0.95	0.93	0.86	0.81	0.87	0.74	601939
601988	0.96	0.96	0.91		0.82	0.87	0.63	0.62	0.82	0.5	601988
601658	0.89	0.85	0.95	0.82		0.92	0.91	0.9	0.92	0.83	601658
601328	0.92	0.89	0.93	0.87	0.92		0.83	0.86	0.91	0.8	601328
600036	0.77	0.66	0.86	0.63	0.91	0.83		0.93	0.85	0.93	600036
601166	0.74	0.67	0.81	0.62	0.9	0.86	0.93		0.84	0.96	601166
601998	0.86	0.79	0.87	0.82	0.92	0.91	0.85	0.84		0.79	601998
600000	0.66	0.57	0.74	0.5	0.83	0.8	0.93	0.96	0.79		600000
	601398	601288	601939	601988	601658	601328	600036	601166	601998	600000

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Risk-Adjusted Indicators

There is a big difference between Gotion Stock performing well and Gotion High 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 Gotion High'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
601398	1.09	0.25	0.18	3.08	1.01	(1.43)	2.83	(1.71)	8.14
601288	1.02	0.18	0.11	1.44	1.25	(1.11)	2.20	(1.89)	7.78
601939	1.11	0.26	0.16	1.80	1.16	(1.32)	3.32	(1.93)	8.64
601988	1.00	0.19	0.14	1.27	0.97	(1.27)	2.67	(1.98)	7.70
601658	1.34	0.28	0.15	1.71	1.32	(1.62)	3.49	(2.23)	9.13
601328	1.31	0.21	0.13	4.52	1.24	(1.56)	3.26	(2.12)	10.82
600036	1.56	0.37	0.17	(3.67)	1.76	(1.79)	4.65	(2.56)	13.83
601166	1.38	0.25	0.12	1.73	1.50	(1.52)	3.84	(2.41)	12.07
601998	1.49	0.26	0.11	3.45	1.81	(1.63)	3.02	(2.37)	13.33
600000	1.38	0.23	0.13	3.97	1.33	(1.64)	3.69	(2.14)	10.95

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Our tools can tell you how much better you can do entering a position in Gotion High 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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