China Great Correlations

Stocks . China . 
Stock . China Great Wall
002939 Stock   8.52  0.19  2.28%   
The current 90-days correlation between China Great Wall and G bits Network Technology is 0.58 (i.e., Very weak diversification). The correlation of China Great 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.

China Great Correlation With Market

Good diversification

The correlation between China Great Wall and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding China Great Wall and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to China Great could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace China Great 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 China Great - 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 China Great Wall to buy it.

Moving together with China Stock

  0.83300815 Eit EnvironmentalPairCorr
  0.87688119 Sinosteel Luonai MatPairCorr
  0.86301379 Techshine ElectronicsPairCorr
  0.74300433 Lens TechnologyPairCorr
  0.87600633 Zhejiang Daily MediaPairCorr
  0.66603969 Tianjin Silvery DragonPairCorr
  0.65600719 Dalian Thermal PowerPairCorr
  0.75600755 Xiamen ITG GroupPairCorr
  0.64603800 Suzhou Douson DrillingPairCorr
  0.7688082 ACM Research ShanghaiPairCorr
  0.77688325 Guangdong CellwisePairCorr
  0.82300608 SI TECH InformationPairCorr
  0.85600584 JCET GroupPairCorr
  0.93000661 Changchun High NewPairCorr
  0.97601059 Cinda SecuritiesPairCorr
  0.84300359 Qtone Education GroupPairCorr
  0.76600515 Hainan HNA InfrastructurePairCorr
  0.63600455 ButOne Information CorpPairCorr
  0.77300221 Guangdong Silvere SciPairCorr
  0.79601598 Sinotrans ClassPairCorr
  0.83002382 Blue Sail MedicalPairCorr
  0.8605128 Shanghai Yanpu MetalPairCorr
  0.82600498 Fiberhome TelecommunicatioPairCorr
  0.61603068 Beken CorpPairCorr
  0.86000761 Bengang Steel PlatesPairCorr
  0.75688507 Shanghai Suochen InfPairCorr
  0.67002584 Xilong ChemicalPairCorr
  0.72000428 Huatian Hotel GroupPairCorr
  0.9000560 5I5j Holding GroupPairCorr

Related Correlations Analysis

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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   
000596
+ 0.94
200596
300760
+ 0.91
000596
000596
+ 0.9
600519
300760
+ 0.9
002594
200596
+ 0.89
600519
300760
+ 0.88
600519
  
High negative correlations   
002371
- 0.22
688169
688169
- 0.09
300750

Risk-Adjusted Indicators

There is a big difference between China Stock performing well and China Great 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 China Great'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
600519  1.65  0.26  0.12  0.91  1.66 
(2.01)
 6.55 
(2.85)
 16.71 
300750  2.73  0.66  0.18 (3.18) 3.00 
(3.16)
 7.94 
(3.41)
 33.42 
603444  2.52  0.32  0.08 (1.88) 3.22 
(2.63)
 5.75 
(3.74)
 18.75 
002594  1.80  0.20  0.08  1.31  1.96 
(1.89)
 5.33 
(2.93)
 14.84 
688169  3.04 (0.04) 0.00  0.96  0.00 
 0.00 
 5.74 
(5.72)
 34.80 
200596  1.79  0.31  0.12  3.33  2.13 
(2.04)
 4.80 
(2.38)
 18.31 
000596  2.66  0.36  0.11  0.66  2.82 
(3.01)
 9.98 
(4.49)
 20.00 
002371  2.47  0.54  0.19  1.49  2.20 
(2.68)
 9.80 
(3.99)
 15.93 
300760  2.13  0.20  0.06 (1.96) 2.40 
(2.47)
 4.81 
(3.75)
 19.76 

Be your own money manager

Our tools can tell you how much better you can do entering a position in China Great 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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