Yunnan Chuangxin Correlations

002812 Stock

33.77 0.25 0.75%

The current 90-days correlation between Yunnan Chuangxin New and Hoshine Silicon Ind is 0.67 (i.e., Poor diversification). The correlation of Yunnan Chuangxin 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.

Yunnan Chuangxin Correlation With Market

Significant diversification

The correlation between Yunnan Chuangxin New and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yunnan Chuangxin New and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Yunnan Chuangxin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Yunnan Chuangxin 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 Yunnan Chuangxin - 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 Yunnan Chuangxin New to buy it.

Moving together with Yunnan Stock

0.78	600019	Baoshan Iron Steel	Pair Corr
0.88	002493	Rongsheng Petrochemical	Pair Corr
0.87	600010	Inner Mongolia BaoTou	Pair Corr
0.92	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.85	603260	Hoshine Silicon Ind	Pair Corr
0.87	600160	Zhejiang Juhua	Pair Corr
0.68	000807	Yunnan Aluminium	Pair Corr
0.61	601138	Foxconn Industrial	Pair Corr
0.85	002998	Elite Color Environmental	Pair Corr
0.85	600885	Hongfa Technology	Pair Corr
0.83	000555	Digital China Information	Pair Corr
0.9	301359	Dongnan Electronics	Pair Corr
0.79	002516	Kuangda Technology	Pair Corr
0.91	002138	Shenzhen Sunlord Ele	Pair Corr
0.8	002129	TCL Zhonghuan Renewable	Pair Corr
0.73	600519	Kweichow Moutai	Pair Corr
0.95	002371	NAURA Technology	Pair Corr
0.74	900934	Shanghai Jin Jiang	Pair Corr
0.68	601998	China Citic Bank	Pair Corr
0.92	000036	China Union Holdings	Pair Corr
0.87	300391	Kangyue Technology	Pair Corr
0.81	000063	ZTE Corp	Pair Corr
0.91	300750	Contemporary Amperex	Pair Corr
0.83	000157	Zoomlion Heavy Industry	Pair Corr
0.82	300378	Digiwin Software	Pair Corr
0.84	600170	Shanghai Construction	Pair Corr
0.81	603259	WuXi AppTec	Pair Corr
0.85	300033	Hithink RoyalFlush Info	Pair Corr
0.63	600104	SAIC Motor Corp	Pair Corr
0.73	002293	Luolai Home Textile	Pair Corr
0.82	300301	Shenzhen Changfang Light	Pair Corr

Related Correlations Analysis

	601899	600309	600019	600547	002493	600010	002460	603260	600160	000807
601899		0.73	0.35	0.85	0.36	-0.1	-0.19	0.1	0.18	0.59	601899
600309	0.73		0.29	0.66	0.52	-0.04	-0.06	0.21	0.19	0.47	600309
600019	0.35	0.29		-0.09	0.79	0.77	0.69	0.77	0.9	0.81	600019
600547	0.85	0.66	-0.09		-0.02	-0.55	-0.55	-0.28	-0.29	0.16	600547
002493	0.36	0.52	0.79	-0.02		0.74	0.77	0.83	0.85	0.74	002493
600010	-0.1	-0.04	0.77	-0.55	0.74		0.88	0.8	0.88	0.63	600010
002460	-0.19	-0.06	0.69	-0.55	0.77	0.88		0.79	0.84	0.45	002460
603260	0.1	0.21	0.77	-0.28	0.83	0.8	0.79		0.86	0.68	603260
600160	0.18	0.19	0.9	-0.29	0.85	0.88	0.84	0.86		0.76	600160
000807	0.59	0.47	0.81	0.16	0.74	0.63	0.45	0.68	0.76		000807
	601899	600309	600019	600547	002493	600010	002460	603260	600160	000807

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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

600160	+ 0.9	600019
002460	+ 0.88	600010
600160	+ 0.88	600010
600160	+ 0.86	603260
600547	+ 0.85	601899
600160	+ 0.85	002493

High negative correlations

002460	- 0.55	600547
600010	- 0.55	600547
600160	- 0.29	600547
603260	- 0.28	600547
002460	- 0.19	601899
600010	- 0.1	601899

Risk-Adjusted Indicators

There is a big difference between Yunnan Stock performing well and Yunnan Chuangxin 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 Yunnan Chuangxin'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
601899	1.64	0.10	0.03	(0.34)	2.00	(1.69)	3.35	(3.21)	10.10
600309	1.75	0.09	0.03	(0.40)	2.24	(2.02)	3.92	(3.47)	16.38
600019	1.62	0.32	0.11	(1.46)	2.00	(1.75)	4.80	(3.10)	17.37
600547	1.38	(0.10)	0.00	0.41	0.00	0.00	2.59	(2.95)	12.15
002493	1.52	0.15	0.06	(3.30)	2.00	(1.68)	4.12	(2.86)	15.52
600010	2.42	0.59	0.19	(0.77)	2.40	(3.15)	7.46	(4.00)	19.48
002460	3.25	0.52	0.14	(2.18)	3.18	(3.95)	9.99	(6.14)	20.00
603260	2.01	0.33	0.10	(0.87)	2.49	(2.14)	4.90	(3.79)	17.89
600160	2.12	0.62	0.26	11.89	1.87	(2.46)	6.09	(3.85)	15.23
000807	2.07	0.38	0.14	0.95	2.26	(2.33)	5.75	(3.27)	15.53

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Our tools can tell you how much better you can do entering a position in Yunnan Chuangxin 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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