Xiamen Jihong Correlations

Stocks . China . 
Stock . Xiamen Jihong Package
002803 Stock   15.75  0.28  1.81%   
The current 90-days correlation between Xiamen Jihong Package and Hengkang Medical Group is 0.23 (i.e., Modest diversification). The correlation of Xiamen Jihong 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.

Xiamen Jihong Correlation With Market

Significant diversification

The correlation between Xiamen Jihong Package and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xiamen Jihong Package and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Xiamen Jihong could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Xiamen Jihong 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 Xiamen Jihong - 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 Xiamen Jihong Package to buy it.

Moving together with Xiamen Stock

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  0.96002460 Jiangxi Ganfeng LithiumPairCorr
  0.85603260 Hoshine Silicon IndPairCorr
  0.9600160 Zhejiang JuhuaPairCorr
  0.79000807 Yunnan AluminiumPairCorr
  0.68688235 BeiGenePairCorr
  0.72600519 Kweichow MoutaiPairCorr
  0.9000661 Changchun High NewPairCorr
  0.91002371 NAURA TechnologyPairCorr
  0.91300750 Contemporary AmperexPairCorr
  0.89002236 Zhejiang Dahua TechnologyPairCorr
  0.83900957 Shanghai Lingyun IndPairCorr

Moving against Xiamen Stock

  0.4600547 Shandong Gold MiningPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Xiamen Stock performing well and Xiamen Jihong 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 Xiamen Jihong'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Xiamen Jihong 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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