Contec Medical Correlations

300869 Stock

15.65 0.34 2.13%

The current 90-days correlation between Contec Medical Systems and Kweichow Moutai Co is 0.58 (i.e., Very weak diversification). The correlation of Contec Medical 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.

Contec Medical Correlation With Market

Good diversification

The correlation between Contec Medical Systems and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Contec Medical Systems and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Contec Stock

0.96	601628	China Life Insurance	Pair Corr
0.97	601059	Cinda Securities	Pair Corr
0.79	688072	Piotech Inc A	Pair Corr
0.89	601198	Dongxing Sec	Pair Corr
0.77	688293	Shanghai OPM Biosciences	Pair Corr
0.94	688126	National Silicon Industry	Pair Corr
0.66	603993	China Molybdenum	Pair Corr
0.81	000504	Nanhua Bio Medicine	Pair Corr
0.87	688521	VeriSilicon Microelectronics	Pair Corr
0.95	300396	Dirui Industrial	Pair Corr
0.93	900957	Shanghai Lingyun Ind	Pair Corr
0.84	688036	Shenzhen Transsion	Pair Corr
0.77	000839	CITIC Guoan Information	Pair Corr
0.92	301236	iSoftStone Information	Pair Corr
0.92	688019	Anji Microelectronics	Pair Corr
0.76	601998	China Citic Bank	Pair Corr
0.77	000598	Chengdu Xingrong Inv	Pair Corr
0.89	002429	Shenzhen MTC	Pair Corr
0.92	002869	Shenzhen Genvict Tec	Pair Corr
0.96	688203	Zhejiang HISUN Bioma	Pair Corr
0.98	301370	GKHT Medical Technology	Pair Corr
0.83	002941	Xinjiang Communications	Pair Corr
0.87	603180	Xiamen Goldenhome	Pair Corr
0.94	605499	Eastroc Beverage Split	Pair Corr
0.92	000042	Shenzhen Centralcon	Pair Corr
0.72	002792	Tongyu Communication	Pair Corr

Related Correlations Analysis

	600519	300750	603444	688169	002594	200596	000596	002371	300760
600519		0.84	0.72	0.3	0.85	0.93	0.94	0.76	0.92	600519
300750	0.84		0.63	0.16	0.89	0.88	0.91	0.95	0.9	300750
603444	0.72	0.63		0.68	0.81	0.64	0.63	0.47	0.78	603444
688169	0.3	0.16	0.68		0.5	0.28	0.2	-0.04	0.39	688169
002594	0.85	0.89	0.81	0.5		0.89	0.84	0.78	0.92	002594
200596	0.93	0.88	0.64	0.28	0.89		0.96	0.85	0.91	200596
000596	0.94	0.91	0.63	0.2	0.84	0.96		0.89	0.93	000596
002371	0.76	0.95	0.47	-0.04	0.78	0.85	0.89		0.82	002371
300760	0.92	0.9	0.78	0.39	0.92	0.91	0.93	0.82		300760
	600519	300750	603444	688169	002594	200596	000596	002371	300760

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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

000596	+ 0.96	200596
002371	+ 0.95	300750
000596	+ 0.94	600519
200596	+ 0.93	600519
300760	+ 0.93	000596
300760	+ 0.92	600519

High negative correlations

002371

- 0.04

688169

Risk-Adjusted Indicators

There is a big difference between Contec Stock performing well and Contec Medical 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 Contec Medical'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
600519	1.68	0.09	0.02	0.29	1.84	(1.98)	6.55	(2.98)	16.71
300750	2.70	0.63	0.15	(20.91)	3.05	(3.29)	7.94	(3.41)	33.42
603444	2.68	0.25	0.06	0.60	3.16	(2.99)	5.21	(4.79)	18.75
688169	3.27	0.11	0.01	0.59	4.12	(3.62)	5.74	(5.72)	34.80
002594	1.90	0.21	0.08	0.43	1.93	(2.15)	5.74	(3.34)	14.84
200596	1.90	0.13	0.01	1.67	2.28	(2.16)	4.80	(2.70)	18.31
000596	2.78	0.16	0.03	0.40	2.90	(3.26)	9.98	(4.36)	20.00
002371	2.38	0.45	0.15	1.02	2.18	(2.63)	9.80	(3.99)	15.93
300760	2.29	0.14	0.02	0.49	2.72	(2.48)	9.90	(4.56)	19.76

Be your own money manager

Our tools can tell you how much better you can do entering a position in Contec Medical 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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Contec Medical Corporate Management

Elected by the shareholders, the Contec Medical's board of directors comprises two types of representatives: Contec Medical inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Contec. The board's role is to monitor Contec Medical's management team and ensure that shareholders' interests are well served. Contec Medical's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Contec Medical's outside directors are responsible for providing unbiased perspectives on the board's policies.

Chunyuan Fu	Deputy Manager	Profile
Zhenhong Liu	Deputy Manager	Profile
Guozhi Kou	Deputy Manager	Profile
Yunlong Xu	Deputy Manager	Profile

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