Guangdong Xiongsu Correlations

300599 Stock

7.39 0.14 1.93%

The current 90-days correlation between Guangdong Xiongsu and Hubei Dinglong Chemical is 0.45 (i.e., Very weak diversification). The correlation of Guangdong Xiongsu 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.

Guangdong Xiongsu Correlation With Market

Good diversification

The correlation between Guangdong Xiongsu Technology and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Xiongsu Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Guangdong Stock

0.82	603688	Jiangsu Pacific Quartz	Pair Corr
0.77	000568	Luzhou Lao Jiao	Pair Corr
0.84	300750	Contemporary Amperex	Pair Corr
0.79	000858	Wuliangye Yibin	Pair Corr
0.82	300825	Iat Automobile Technology	Pair Corr
0.73	301390	Hangzhou Gisway Info	Pair Corr
0.85	002074	Gotion High tech	Pair Corr
0.86	300433	Lens Technology	Pair Corr
0.73	300608	SI TECH Information	Pair Corr
0.76	603068	Beken Corp	Pair Corr
0.88	688507	Shanghai Suochen Inf	Pair Corr
0.88	000761	Bengang Steel Plates	Pair Corr
0.66	605388	JuneYao Dairy	Pair Corr
0.87	688325	Guangdong Cellwise	Pair Corr
0.93	600633	Zhejiang Daily Media	Pair Corr
0.92	600498	Fiberhome Telecommunicatio	Pair Corr
0.91	688119	Sinosteel Luonai Mat	Pair Corr
0.73	002303	Shenzhen MYS Environ	Pair Corr
0.9	301379	Techshine Electronics	Pair Corr
0.78	002946	New Hope Dairy	Pair Corr
0.81	000661	Changchun High New	Pair Corr
0.72	002575	Guangdong Qunxing Toys	Pair Corr
0.76	600515	Hainan HNA Infrastructure	Pair Corr
0.81	002847	Yankershop Food	Pair Corr
0.68	002217	Holitech Technology	Pair Corr
0.87	600455	ButOne Information Corp	Pair Corr
0.85	600719	Dalian Thermal Power	Pair Corr
0.77	000909	Soyea Technology	Pair Corr
0.81	000506	Zhongrun Resources	Pair Corr
0.81	601929	JiShi Media	Pair Corr
0.92	002893	Beijing HuaYuanYiTong	Pair Corr

Related Correlations Analysis

	300054	600691	002410	002584	002632	000637	002250	002205
300054		0.74	0.88	0.73	0.81	0.71	0.86	0.73	300054
600691	0.74		0.55	0.9	0.86	0.92	0.9	0.85	600691
002410	0.88	0.55		0.47	0.6	0.43	0.69	0.52	002410
002584	0.73	0.9	0.47		0.92	0.92	0.86	0.86	002584
002632	0.81	0.86	0.6	0.92		0.89	0.83	0.93	002632
000637	0.71	0.92	0.43	0.92	0.89		0.86	0.9	000637
002250	0.86	0.9	0.69	0.86	0.83	0.86		0.75	002250
002205	0.73	0.85	0.52	0.86	0.93	0.9	0.75		002205
	300054	600691	002410	002584	002632	000637	002250	002205

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Risk-Adjusted Indicators

There is a big difference between Guangdong Stock performing well and Guangdong Xiongsu 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 Guangdong Xiongsu'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
300054	2.54	0.61	0.23	5.59	2.10	(3.09)	5.69	(4.25)	22.72
600691	3.11	0.80	0.22	(1.30)	2.80	(3.64)	9.94	(4.96)	19.82
002410	3.10	0.52	0.12	(2.24)	3.65	(3.34)	9.99	(6.97)	19.12
002584	2.85	0.57	0.17	(35.46)	2.92	(3.23)	8.39	(4.76)	19.11
002632	2.41	0.61	0.20	(2.89)	2.45	(2.77)	5.13	(4.01)	18.98
000637	1.88	0.48	0.16	(1.64)	2.28	(2.14)	4.18	(2.86)	15.54
002250	2.08	0.32	0.10	(2.01)	2.59	(2.34)	4.52	(4.43)	18.29
002205	2.63	0.84	0.21	(0.82)	3.03	(2.99)	8.22	(6.90)	18.75

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guangdong Xiongsu 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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