Hithink RoyalFlush Correlations

300033 Stock

305.83 0.83 0.27%

The current 90-days correlation between Hithink RoyalFlush Info and China Citic Bank is 0.37 (i.e., Weak diversification). The correlation of Hithink RoyalFlush 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.

Hithink RoyalFlush Correlation With Market

Average diversification

The correlation between Hithink RoyalFlush Info and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hithink RoyalFlush Info and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hithink Stock

0.62	601398	Industrial and Commercial	Pair Corr
0.62	601939	China Construction Bank	Pair Corr
0.61	601988	Bank of China	Pair Corr
0.91	300825	Iat Automobile Technology	Pair Corr
0.93	603709	Zoy Home Furnishing	Pair Corr
0.92	600221	Hainan Airlines	Pair Corr
0.92	002738	Sinomine Resource	Pair Corr
0.79	600958	Orient Sec	Pair Corr
0.89	688507	Shanghai Suochen Inf	Pair Corr
0.86	300022	Gifore Agricultural	Pair Corr
0.84	002371	NAURA Technology	Pair Corr
0.74	002459	JA Solar Technology	Pair Corr
0.8	600597	Bright Dairy Food	Pair Corr
0.8	300866	Anker Innovations	Pair Corr
0.92	603818	Qumei Furniture Group	Pair Corr
0.92	601568	Shaanxi Beiyuan Chemical	Pair Corr
0.93	600666	Aurora Optoelectronics	Pair Corr
0.8	600522	Jiangsu Zhongtian	Pair Corr
0.92	600030	CITIC Securities	Pair Corr
0.93	688466	GreenTech Environmental	Pair Corr
0.88	688656	HOB Biotech Group	Pair Corr

Related Correlations Analysis

	601398	601288	601939	601988	601658	601328	601318	600036	601166	601998
601398		0.96	0.97	0.96	0.89	0.92	0.6	0.77	0.74	0.86	601398
601288	0.96		0.93	0.96	0.85	0.89	0.47	0.66	0.67	0.79	601288
601939	0.97	0.93		0.91	0.95	0.93	0.71	0.86	0.81	0.87	601939
601988	0.96	0.96	0.91		0.82	0.87	0.44	0.63	0.62	0.82	601988
601658	0.89	0.85	0.95	0.82		0.92	0.81	0.91	0.9	0.92	601658
601328	0.92	0.89	0.93	0.87	0.92		0.72	0.83	0.86	0.91	601328
601318	0.6	0.47	0.71	0.44	0.81	0.72		0.96	0.9	0.78	601318
600036	0.77	0.66	0.86	0.63	0.91	0.83	0.96		0.93	0.85	600036
601166	0.74	0.67	0.81	0.62	0.9	0.86	0.9	0.93		0.84	601166
601998	0.86	0.79	0.87	0.82	0.92	0.91	0.78	0.85	0.84		601998
	601398	601288	601939	601988	601658	601328	601318	600036	601166	601998

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Risk-Adjusted Indicators

There is a big difference between Hithink Stock performing well and Hithink RoyalFlush 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 Hithink RoyalFlush'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
601398	1.09	0.25	0.18	3.08	1.01	(1.43)	2.83	(1.71)	8.14
601288	1.02	0.18	0.11	1.44	1.25	(1.11)	2.20	(1.89)	7.78
601939	1.11	0.26	0.16	1.80	1.16	(1.32)	3.32	(1.93)	8.64
601988	1.00	0.19	0.14	1.27	0.97	(1.27)	2.67	(1.98)	7.70
601658	1.34	0.28	0.15	1.71	1.32	(1.62)	3.49	(2.23)	9.13
601328	1.31	0.21	0.13	4.52	1.24	(1.56)	3.26	(2.12)	10.82
601318	1.80	0.35	0.14	1.10	1.95	(2.18)	5.83	(2.88)	19.77
600036	1.56	0.37	0.17	(3.67)	1.76	(1.79)	4.65	(2.56)	13.83
601166	1.38	0.25	0.12	1.73	1.50	(1.52)	3.84	(2.41)	12.07
601998	1.49	0.26	0.11	3.45	1.81	(1.63)	3.02	(2.37)	13.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hithink RoyalFlush 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.

Did you try this?

Run Crypto Correlations Now

Crypto Correlations

Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC