Guangzhou Shangpin Correlations

300616 Stock

15.10 0.51 3.50%

The current 90-days correlation between Guangzhou Shangpin Home and Lutian Machinery Co is 0.67 (i.e., Poor diversification). The correlation of Guangzhou Shangpin 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.

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

Moving together with Guangzhou Stock

0.67	600941	China Mobile Limited	Pair Corr
0.87	601318	Ping An Insurance	Pair Corr
0.9	601728	China Telecom Corp	Pair Corr
0.87	601668	China State Construction	Pair Corr
0.87	600519	Kweichow Moutai	Pair Corr
0.66	601088	China Shenhua Energy	Pair Corr
0.88	601628	China Life Insurance	Pair Corr

Related Correlations Analysis

	605259	001289	601857	601988	600236	605198	600025	300600	301177	601998
605259		0.88	0.07	0.61	0.16	0.88	-0.76	0.9	0.92	0.78	605259
001289	0.88		0.13	0.47	-0.02	0.67	-0.64	0.87	0.84	0.71	001289
601857	0.07	0.13		0.52	0.58	0.17	0.43	0.2	0.25	0.52	601857
601988	0.61	0.47	0.52		0.48	0.73	-0.34	0.66	0.7	0.9	601988
600236	0.16	-0.02	0.58	0.48		0.42	0.27	0.19	0.2	0.4	600236
605198	0.88	0.67	0.17	0.73	0.42		-0.66	0.82	0.86	0.81	605198
600025	-0.76	-0.64	0.43	-0.34	0.27	-0.66		-0.66	-0.65	-0.42	600025
300600	0.9	0.87	0.2	0.66	0.19	0.82	-0.66		0.94	0.85	300600
301177	0.92	0.84	0.25	0.7	0.2	0.86	-0.65	0.94		0.87	301177
601998	0.78	0.71	0.52	0.9	0.4	0.81	-0.42	0.85	0.87		601998
	605259	001289	601857	601988	600236	605198	600025	300600	301177	601998

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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

301177	+ 0.94	300600
301177	+ 0.92	605259
300600	+ 0.9	605259
601998	+ 0.9	601988
001289	+ 0.88	605259
605198	+ 0.88	605259

High negative correlations

600025	- 0.76	605259
300600	- 0.66	600025
600025	- 0.66	605198
301177	- 0.65	600025
600025	- 0.64	001289
601998	- 0.42	600025

Risk-Adjusted Indicators

There is a big difference between Guangzhou Stock performing well and Guangzhou Shangpin 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 Guangzhou Shangpin'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
605259	1.66	0.38	0.10	69.16	2.10	(1.67)	3.35	(3.43)	14.98
001289	2.12	0.27	0.06	(1.24)	2.08	(2.74)	4.14	(2.98)	16.59
601857	1.41	(0.06)	0.00	0.46	0.00	0.00	3.55	(3.33)	17.17
601988	1.08	0.07	(0.03)	33.65	1.27	(1.32)	2.67	(2.40)	7.70
600236	1.33	0.13	0.00	(0.44)	2.03	(1.27)	2.83	(2.50)	13.85
605198	2.60	0.69	0.15	(1.69)	3.00	(2.86)	6.21	(4.28)	19.98
600025	1.27	(0.21)	0.00	3.82	0.00	0.00	2.17	(3.05)	10.45
300600	2.21	0.57	0.14	4.37	2.84	(2.45)	3.67	(5.09)	20.86
301177	2.40	0.49	0.14	4.55	2.41	(2.96)	6.17	(3.64)	23.31
601998	1.53	0.19	0.04	14.28	1.89	(1.64)	3.02	(2.66)	13.33

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Our tools can tell you how much better you can do entering a position in Guangzhou Shangpin 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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