Yibin Tianyuan Correlations
| 002386 Stock | 4.86 0.06 1.25% |
The current 90-days correlation between Yibin Tianyuan Group and GRG Banking Equipment is 0.49 (i.e., Very weak diversification). The correlation of Yibin Tianyuan 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.
Yibin Tianyuan Correlation With Market
Good diversification
The correlation between Yibin Tianyuan Group and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yibin Tianyuan Group and DJI in the same portfolio, assuming nothing else is changed.
Yibin |
The ability to find closely correlated positions to Yibin Tianyuan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Yibin Tianyuan 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 Yibin Tianyuan - 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 Yibin Tianyuan Group to buy it.
Moving together with Yibin Stock
| 0.9 | 600019 | Baoshan Iron Steel | PairCorr |
| 0.87 | 002493 | Rongsheng Petrochemical | PairCorr |
| 0.89 | 600010 | Inner Mongolia BaoTou | PairCorr |
| 0.91 | 002460 | Jiangxi Ganfeng Lithium | PairCorr |
| 0.89 | 603260 | Hoshine Silicon Ind | PairCorr |
| 0.92 | 600160 | Zhejiang Juhua | PairCorr |
| 0.75 | 000807 | Yunnan Aluminium | PairCorr |
| 0.88 | 601336 | New China Life | PairCorr |
Related Correlations Analysis
| 0.87 | 0.95 | 0.83 | 0.6 | 0.33 | 600901 | ||
| 0.87 | 0.84 | 0.89 | 0.59 | 0.54 | 300998 | ||
| 0.95 | 0.84 | 0.85 | 0.6 | 0.34 | 601318 | ||
| 0.83 | 0.89 | 0.85 | 0.8 | 0.71 | 002152 | ||
| 0.6 | 0.59 | 0.6 | 0.8 | 0.79 | 002124 | ||
| 0.33 | 0.54 | 0.34 | 0.71 | 0.79 | 600599 | ||
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Risk-Adjusted Indicators
There is a big difference between Yibin Stock performing well and Yibin Tianyuan 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 Yibin Tianyuan'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 600901 | 1.54 | 0.19 | 0.03 | 1.52 | 2.22 | 3.47 | 18.16 | |||
| 300998 | 2.95 | 0.43 | 0.09 | 0.65 | 3.87 | 7.67 | 29.94 | |||
| 601318 | 1.79 | 0.35 | 0.12 | 1.26 | 1.89 | 5.83 | 19.77 | |||
| 002152 | 2.44 | 0.60 | 0.17 | (1.15) | 2.26 | 5.98 | 16.74 | |||
| 002124 | 2.26 | 0.52 | 0.12 | (0.59) | 2.06 | 5.06 | 9.85 | |||
| 600599 | 2.48 | 0.52 | 0.14 | 1.33 | 2.68 | 5.02 | 10.06 |
Be your own money manager
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