New Trend Correlations

300532 Stock

12.11 0.48 3.81%

The current 90-days correlation between New Trend International and Loctek Ergonomic Technology is 0.64 (i.e., Poor diversification). The correlation of New Trend 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.

New Trend Correlation With Market

Good diversification

The correlation between New Trend International and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Trend International and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with New Stock

0.78	601628	China Life Insurance	Pair Corr
0.78	601059	Cinda Securities	Pair Corr
0.72	688072	Piotech Inc A	Pair Corr
0.7	601198	Dongxing Sec	Pair Corr
0.7	688293	Shanghai OPM Biosciences	Pair Corr
0.84	688126	National Silicon Industry	Pair Corr
0.73	000504	Nanhua Bio Medicine	Pair Corr
0.79	000061	Shenzhen Agricultural	Pair Corr
0.76	688012	Advanced Micro Fabri	Pair Corr

Related Correlations Analysis

	601615	159681	159005	300729	516220	002096	603269	300049	600895	688618
601615		0.83	0.95	0.9	0.83	0.62	0.9	-0.1	0.85	0.83	601615
159681	0.83		0.74	0.91	0.98	0.84	0.86	0.32	0.88	0.96	159681
159005	0.95	0.74		0.8	0.72	0.52	0.82	-0.22	0.81	0.7	159005
300729	0.9	0.91	0.8		0.9	0.69	0.86	0.17	0.79	0.88	300729
516220	0.83	0.98	0.72	0.9		0.81	0.83	0.25	0.88	0.94	516220
002096	0.62	0.84	0.52	0.69	0.81		0.73	0.54	0.72	0.84	002096
603269	0.9	0.86	0.82	0.86	0.83	0.73		0.18	0.81	0.91	603269
300049	-0.1	0.32	-0.22	0.17	0.25	0.54	0.18		0.03	0.35	300049
600895	0.85	0.88	0.81	0.79	0.88	0.72	0.81	0.03		0.85	600895
688618	0.83	0.96	0.7	0.88	0.94	0.84	0.91	0.35	0.85		688618
	601615	159681	159005	300729	516220	002096	603269	300049	600895	688618

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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

516220	+ 0.98	159681
688618	+ 0.96	159681
159005	+ 0.95	601615
688618	+ 0.94	516220
300729	+ 0.91	159681
688618	+ 0.91	603269

High negative correlations

300049	- 0.22	159005
300049	- 0.1	601615

Risk-Adjusted Indicators

There is a big difference between New Stock performing well and New Trend 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 New Trend'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
601615	2.64	0.76	0.25	(6.44)	2.30	(3.29)	7.78	(3.81)	18.14
159681	3.00	0.68	0.14	(5.65)	3.07	(4.80)	8.99	(4.00)	36.32
159005	0.01	0.00	(7.22)	0.44	0.00	(0.05)	0.01	(0.01)	0.14
300729	2.22	0.29	0.07	2.19	2.90	(2.50)	6.27	(3.34)	24.80
516220	1.76	0.26	0.07	(1.58)	1.79	(2.78)	5.26	(3.03)	17.74
002096	2.10	0.11	0.03	0.40	2.35	(2.25)	4.30	(3.86)	13.27
603269	2.65	0.59	0.18	(3.26)	2.45	(3.20)	5.98	(4.55)	16.65
300049	3.36	(0.13)	0.00	(0.16)	0.00	0.00	7.57	(7.17)	28.09
600895	3.43	0.93	0.20	(0.67)	3.20	(3.84)	10.01	(5.11)	19.00
688618	3.16	0.50	0.10	(1.54)	3.78	(3.44)	9.39	(5.82)	29.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in New Trend 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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