GUOTAI JUNAN Correlations

153A Stock

EUR 1.42 0.03 2.07%

The current 90-days correlation between GUOTAI JUNAN SEC and Heidelberg Materials AG is 0.12 (i.e., Average diversification). The correlation of GUOTAI JUNAN 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.

GUOTAI JUNAN Correlation With Market

Average diversification

The correlation between GUOTAI JUNAN SEC and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GUOTAI JUNAN SEC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with GUOTAI Stock

0.88	DWD	Morgan Stanley	Pair Corr
0.87	DWD	Morgan Stanley	Pair Corr
0.84	SWG	Charles Schwab	Pair Corr
0.8	GOS	Goldman Sachs	Pair Corr
0.82	GOS	Goldman Sachs	Pair Corr
0.82	KR51	KKR Co LP	Pair Corr
0.78	3HM	MSCI Inc	Pair Corr
0.72	74F	LIFE BANC SPLIT	Pair Corr

Moving against GUOTAI Stock

0.77	SG9	Strix Group Plc	Pair Corr
0.7	0KJ	ABERFORTH SMCOS TRLS	Pair Corr
0.52	DBPD	Xtrackers ShortDAX	Pair Corr
0.41	RFC4	COPAUR MINERALS INC	Pair Corr

Related Correlations Analysis

	8SP	2DG	XYTA	9K1	3RKU	VUSA	MEL	HEI	IDP	ITB
8SP		0.7	-0.32	0.47	-0.18	-0.69	-0.67	-0.69	0.71	-0.64	8SP
2DG	0.7		-0.23	0.78	-0.68	-0.93	-0.78	-0.91	0.9	-0.89	2DG
XYTA	-0.32	-0.23		0.11	-0.18	0.28	0.2	0.08	-0.22	0.13	XYTA
9K1	0.47	0.78	0.11		-0.85	-0.83	-0.65	-0.89	0.82	-0.91	9K1
3RKU	-0.18	-0.68	-0.18	-0.85		0.69	0.44	0.78	-0.7	0.76	3RKU
VUSA	-0.69	-0.93	0.28	-0.83	0.69		0.76	0.93	-0.87	0.93	VUSA
MEL	-0.67	-0.78	0.2	-0.65	0.44	0.76		0.79	-0.72	0.67	MEL
HEI	-0.69	-0.91	0.08	-0.89	0.78	0.93	0.79		-0.92	0.89	HEI
IDP	0.71	0.9	-0.22	0.82	-0.7	-0.87	-0.72	-0.92		-0.89	IDP
ITB	-0.64	-0.89	0.13	-0.91	0.76	0.93	0.67	0.89	-0.89		ITB
	8SP	2DG	XYTA	9K1	3RKU	VUSA	MEL	HEI	IDP	ITB

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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

HEI	+ 0.93	VUSA
ITB	+ 0.93	VUSA
IDP	+ 0.9	2DG
ITB	+ 0.89	HEI
IDP	+ 0.82	9K1
HEI	+ 0.79	MEL

High negative correlations

VUSA	- 0.93	2DG
IDP	- 0.92	HEI
ITB	- 0.91	9K1
HEI	- 0.91	2DG
ITB	- 0.89	IDP
HEI	- 0.89	9K1

Risk-Adjusted Indicators

There is a big difference between GUOTAI Stock performing well and GUOTAI JUNAN 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 GUOTAI JUNAN'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
8SP	2.04	0.00	0.00	0.00	0.00	0.00	3.36	(3.96)	20.22
2DG	5.01	(1.03)	0.00	(0.38)	0.00	0.00	9.09	(10.00)	52.42
XYTA	11.55	4.06	0.13	(1.91)	8.11	(58.33)	33.33	(20.00)	233.33
9K1	1.72	(0.44)	0.00	3.59	0.00	0.00	2.94	(4.66)	14.80
3RKU	1.54	0.44	0.21	1.89	1.25	(2.12)	3.31	(2.40)	9.54
VUSA	0.55	0.12	0.13	0.24	0.48	(0.61)	1.19	(1.04)	6.02
MEL	1.15	0.23	0.11	3.67	1.04	(1.38)	3.33	(1.78)	7.09
HEI	1.19	0.39	0.33	0.56	0.59	(1.43)	3.29	(1.57)	8.93
IDP	1.22	(0.31)	0.00	(0.84)	0.00	0.00	2.08	(2.51)	12.11
ITB	0.88	0.30	0.18	(2.13)	0.63	(0.95)	2.31	(1.36)	5.79

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Our tools can tell you how much better you can do entering a position in GUOTAI JUNAN 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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