Shenzhen Glory Correlations

002551 Stock

3.59 0.15 4.01%

The current 90-days correlation between Shenzhen Glory Medical and Loctek Ergonomic Technology is 0.54 (i.e., Very weak diversification). The correlation of Shenzhen Glory 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 Glory Correlation With Market

Good diversification

The correlation between Shenzhen Glory Medical and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Glory Medical and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Shenzhen Glory 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 Glory 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 Glory - 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 Glory Medical to buy it.

Moving together with Shenzhen Stock

0.82	601318	Ping An Insurance	Pair Corr
0.81	601728	China Telecom Corp	Pair Corr
0.75	601668	China State Construction	Pair Corr
0.73	600519	Kweichow Moutai	Pair Corr
0.87	601628	China Life Insurance	Pair Corr
0.93	300252	Kingsignal Technology	Pair Corr
0.9	900957	Shanghai Lingyun Ind	Pair Corr
0.98	300074	AVCON Information Tech	Pair Corr
0.91	002605	Shanghai Yaoji Playing	Pair Corr
0.93	000042	Shenzhen Centralcon	Pair Corr
0.97	601615	Ming Yang Smart	Pair Corr
0.93	600996	Guizhou BroadcastingTV	Pair Corr
0.84	600399	Fushun Special Steel	Pair Corr
0.92	300261	Aba Chemicals Corp	Pair Corr
0.97	600512	Tengda Construction	Pair Corr
0.85	601111	Air China	Pair Corr
0.64	000598	Chengdu Xingrong Inv	Pair Corr
0.95	600429	Beijing Sanyuan Foods	Pair Corr
0.68	601998	China Citic Bank	Pair Corr
0.9	600711	Chengtun Mining Group	Pair Corr
0.85	688298	Zhejiang Orient Gene	Pair Corr
0.86	603986	GigaDevice SemiconductorBei	Pair Corr
0.93	000839	CITIC Guoan Information	Pair Corr
0.87	605499	Eastroc Beverage Split	Pair Corr
0.87	605577	Heilongjiang Publishing	Pair Corr
0.81	603236	Quectel Wireless Sol	Pair Corr
0.9	600459	Sino Platinum Metals	Pair Corr
0.83	002429	Shenzhen MTC	Pair Corr
0.94	000555	Digital China Information	Pair Corr
0.95	688019	Anji Microelectronics	Pair Corr
0.93	002269	Shanghai Metersbonwe	Pair Corr
0.91	002792	Tongyu Communication	Pair Corr
0.95	688203	Zhejiang HISUN Bioma	Pair Corr
0.81	300396	Dirui Industrial	Pair Corr
0.95	600030	CITIC Securities	Pair Corr

Moving against Shenzhen Stock

0.5

600028

China Petroleum Chemical

Pair Corr

Related Correlations Analysis

	601336	601615	159681	159005	300729	516220	002096	300243	603269	300049
601336		0.85	0.97	0.86	0.88	0.96	0.88	0.87	0.88	0.3	601336
601615	0.85		0.88	0.9	0.92	0.89	0.7	0.9	0.89	0.01	601615
159681	0.97	0.88		0.85	0.94	0.98	0.86	0.87	0.9	0.31	159681
159005	0.86	0.9	0.85		0.85	0.85	0.69	0.93	0.79	-0.11	159005
300729	0.88	0.92	0.94	0.85		0.93	0.75	0.83	0.87	0.21	300729
516220	0.96	0.89	0.98	0.85	0.93		0.84	0.88	0.89	0.24	516220
002096	0.88	0.7	0.86	0.69	0.75	0.84		0.72	0.79	0.49	002096
300243	0.87	0.9	0.87	0.93	0.83	0.88	0.72		0.84	-0.01	300243
603269	0.88	0.89	0.9	0.79	0.87	0.89	0.79	0.84		0.32	603269
300049	0.3	0.01	0.31	-0.11	0.21	0.24	0.49	-0.01	0.32		300049
	601336	601615	159681	159005	300729	516220	002096	300243	603269	300049

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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

516220	+ 0.98	159681
159681	+ 0.97	601336
516220	+ 0.96	601336
300729	+ 0.94	159681
300243	+ 0.93	159005
516220	+ 0.93	300729

High negative correlations

300049	- 0.11	159005
300049	- 0.01	300243

Risk-Adjusted Indicators

There is a big difference between Shenzhen Stock performing well and Shenzhen Glory 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 Glory'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
601336	2.50	0.69	0.30	0.93	1.67	(3.12)	9.69	(3.97)	16.01
601615	2.62	0.91	0.28	(4.51)	2.25	(3.21)	7.78	(4.15)	18.14
159681	2.97	0.71	0.14	(17.50)	3.06	(4.80)	8.99	(4.00)	36.32
159005	0.01	0.00	0.00	0.46	0.00	0.00	0.01	0.00	0.14
300729	2.15	0.44	0.11	6.53	2.85	(2.45)	6.27	(3.09)	24.80
516220	1.70	0.30	0.07	(4.26)	1.71	(2.85)	5.26	(3.03)	17.74
002096	2.10	0.24	0.06	1.50	2.31	(2.24)	4.30	(3.86)	13.27
300243	3.13	0.83	0.14	(0.81)	3.65	(3.40)	10.41	(4.71)	31.77
603269	2.60	0.44	0.10	(1.44)	2.70	(3.01)	5.98	(4.63)	16.65
300049	3.36	(0.13)	0.00	(0.16)	0.00	0.00	7.57	(7.51)	28.09

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shenzhen Glory 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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Shenzhen Glory Corporate Management

Elected by the shareholders, the Shenzhen Glory's board of directors comprises two types of representatives: Shenzhen Glory inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shenzhen. The board's role is to monitor Shenzhen Glory's management team and ensure that shareholders' interests are well served. Shenzhen Glory's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Shenzhen Glory's outside directors are responsible for providing unbiased perspectives on the board's policies.

Guitian Liang	Vice GM	Profile
Yong You	Chief Officer	Profile
Li Song	Deputy Manager	Profile
Li Lin	Deputy Secretary	Profile
Wen Zhang	Deputy Manager	Profile

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