Fujian Green Correlations

300132 Stock

5.17 0.01 0.19%

The current 90-days correlation between Fujian Green Pine and Zijin Mining Group is -0.15 (i.e., Good diversification). The correlation of Fujian Green 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.

Fujian Green Correlation With Market

Good diversification

The correlation between Fujian Green Pine and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Green Pine and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fujian Stock

0.72	600019	Baoshan Iron Steel	Pair Corr
0.85	600010	Inner Mongolia BaoTou	Pair Corr
0.72	002460	Jiangxi Ganfeng Lithium	Pair Corr
0.69	603260	Hoshine Silicon Ind	Pair Corr
0.81	600160	Zhejiang Juhua	Pair Corr
0.92	600186	Lotus Health Group	Pair Corr
0.69	002847	Yankershop Food	Pair Corr
0.7	601211	Guotai Junan Securities	Pair Corr
0.8	000900	Xiandai Investment	Pair Corr
0.86	002119	Ningbo Kangqiang Ele	Pair Corr
0.74	300014	EVE Energy	Pair Corr
0.74	002353	Yantai Jereh Oilfield	Pair Corr
0.75	301123	YiDong Electronics	Pair Corr
0.62	600198	Datang Telecom Technology	Pair Corr
0.9	603818	Qumei Furniture Group	Pair Corr
0.89	000637	Maoming Petro Chemical	Pair Corr
0.79	000548	Hunan Investment	Pair Corr
0.78	605266	Yunnan Jianzhijia	Pair Corr
0.83	002926	Huaxi Securities	Pair Corr
0.83	002336	Renrenle Commercial	Pair Corr
0.81	000988	Huagong Tech	Pair Corr
0.88	300629	King Strong New	Pair Corr
0.69	002371	NAURA Technology	Pair Corr

Moving against Fujian Stock

0.67	600547	Shandong Gold Mining	Pair Corr
0.44	601899	Zijin Mining Group	Pair Corr
0.42	600309	Wanhua Chemical Group	Pair Corr

Related Correlations Analysis

	601899	600309	600019	600547	002493	600010	002460	603260	600160	601216
601899		0.7	0.0	0.92	0.15	-0.42	-0.49	-0.17	-0.27	-0.61	601899
600309	0.7		0.01	0.69	0.44	-0.26	-0.26	0.03	-0.14	-0.33	600309
600019	0.0	0.01		-0.29	0.55	0.68	0.58	0.66	0.84	0.59	600019
600547	0.92	0.69	-0.29		-0.01	-0.66	-0.62	-0.37	-0.56	-0.75	600547
002493	0.15	0.44	0.55	-0.01		0.61	0.68	0.74	0.57	0.29	002493
600010	-0.42	-0.26	0.68	-0.66	0.61		0.85	0.74	0.81	0.76	600010
002460	-0.49	-0.26	0.58	-0.62	0.68	0.85		0.73	0.75	0.66	002460
603260	-0.17	0.03	0.66	-0.37	0.74	0.74	0.73		0.75	0.58	603260
600160	-0.27	-0.14	0.84	-0.56	0.57	0.81	0.75	0.75		0.69	600160
601216	-0.61	-0.33	0.59	-0.75	0.29	0.76	0.66	0.58	0.69		601216
	601899	600309	600019	600547	002493	600010	002460	603260	600160	601216

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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

600547	+ 0.92	601899
002460	+ 0.85	600010
600160	+ 0.84	600019
600160	+ 0.81	600010
601216	+ 0.76	600010
600160	+ 0.75	002460

High negative correlations

601216	- 0.75	600547
600010	- 0.66	600547
002460	- 0.62	600547
601216	- 0.61	601899
600160	- 0.56	600547
002460	- 0.49	601899

Risk-Adjusted Indicators

There is a big difference between Fujian Stock performing well and Fujian Green 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 Fujian Green'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	1.59	0.04	(0.01)	(0.14)	2.06	(1.59)	3.26	(3.21)	10.10
600309	1.70	(0.03)	0.00	0.27	0.00	0.00	3.83	(3.47)	16.38
600019	1.67	0.39	0.12	(1.62)	2.05	(1.77)	4.80	(3.10)	17.37
600547	1.35	(0.14)	0.00	0.58	0.00	0.00	2.39	(2.95)	12.15
002493	1.46	0.11	0.03	1.84	1.96	(1.63)	3.99	(2.86)	15.52
600010	2.46	0.53	0.16	(0.70)	2.42	(3.22)	7.46	(4.00)	19.48
002460	3.21	0.59	0.16	(3.47)	3.05	(3.97)	9.99	(6.14)	20.00
603260	2.02	0.24	0.06	(0.63)	2.47	(2.18)	4.90	(3.79)	17.89
600160	2.10	0.60	0.24	26.08	1.84	(2.41)	6.09	(3.85)	15.23
601216	3.45	0.79	0.15	(0.53)	4.11	(3.79)	10.03	(9.78)	20.07

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fujian Green 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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