Eit Environmental Correlations

300815 Stock

16.00 0.09 0.57%

The current 90-days correlation between Eit Environmental and Youyou Foods Co is 0.35 (i.e., Weak diversification). The correlation of Eit Environmental 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.

Eit Environmental Correlation With Market

Average diversification

The correlation between Eit Environmental Development and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eit Environmental Development and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Eit Stock

0.65	601398	Industrial and Commercial	Pair Corr
0.69	601939	China Construction Bank	Pair Corr
0.77	600036	China Merchants Bank	Pair Corr
0.83	601628	China Life Insurance	Pair Corr
0.75	601318	Ping An Insurance	Pair Corr
0.87	603969	Tianjin Silvery Dragon	Pair Corr
0.88	002074	Gotion High tech	Pair Corr
0.93	002152	GRG Banking Equipment	Pair Corr
0.93	600498	Fiberhome Telecommunicatio	Pair Corr
0.61	600804	Dr Peng Telecom	Pair Corr
0.89	000661	Changchun High New	Pair Corr
0.9	605128	Shanghai Yanpu Metal	Pair Corr
0.8	603103	Hengdian Entertainment	Pair Corr
0.75	002217	Holitech Technology	Pair Corr
0.86	600515	Hainan HNA Infrastructure	Pair Corr
0.92	600584	JCET Group	Pair Corr
0.92	600335	Sinomach Automobile	Pair Corr
0.86	603068	Beken Corp	Pair Corr
0.86	603818	Qumei Furniture Group	Pair Corr
0.84	300608	SI TECH Information	Pair Corr
0.74	000889	ZJBC Information Tec	Pair Corr
0.8	000995	Gansu Huangtai Wine	Pair Corr
0.79	601059	Cinda Securities	Pair Corr
0.86	603800	Suzhou Douson Drilling	Pair Corr
0.86	000761	Bengang Steel Plates	Pair Corr
0.87	601002	Gem Year Industrial	Pair Corr
0.89	000560	5I5j Holding Group	Pair Corr
0.81	601598	Sinotrans Class	Pair Corr
0.82	301390	Hangzhou Gisway Info	Pair Corr
0.64	688119	Sinosteel Luonai Mat	Pair Corr
0.64	600755	Xiamen ITG Group	Pair Corr
0.86	002946	New Hope Dairy	Pair Corr
0.8	000909	Soyea Technology	Pair Corr

Related Correlations Analysis

	603697	603797	603336	002956	300815	600496	603057
603697		0.93	0.83	0.83	0.8	0.87	0.75	603697
603797	0.93		0.89	0.91	0.92	0.96	0.85	603797
603336	0.83	0.89		0.77	0.87	0.92	0.63	603336
002956	0.83	0.91	0.77		0.76	0.85	0.84	002956
300815	0.8	0.92	0.87	0.76		0.91	0.73	300815
600496	0.87	0.96	0.92	0.85	0.91		0.76	600496
603057	0.75	0.85	0.63	0.84	0.73	0.76		603057
	603697	603797	603336	002956	300815	600496	603057

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Risk-Adjusted Indicators

There is a big difference between Eit Stock performing well and Eit Environmental 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 Eit Environmental'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
603697	3.04	1.05	0.30	1.19	2.58	(3.41)	8.64	(4.38)	17.03
603797	1.96	0.52	0.16	2.19	2.30	(2.21)	3.86	(2.79)	18.40
603336	3.09	0.73	0.20	1.09	3.24	(3.56)	8.72	(5.97)	19.60
002956	2.24	0.67	0.27	1.17	2.07	(2.64)	5.39	(3.41)	16.47
300815	2.76	0.61	0.18	1.08	2.84	(3.26)	7.64	(4.04)	26.44
600496	1.74	0.44	0.17	(1.46)	1.91	(1.97)	3.77	(2.74)	16.58
603057	2.47	0.34	0.13	0.39	2.41	(3.06)	6.50	(3.30)	18.04

Be your own money manager

Our tools can tell you how much better you can do entering a position in Eit Environmental 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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