Shenzhen Bioeasy Correlations

300942 Stock

9.88 0.74 6.97%

The current 90-days correlation between Shenzhen Bioeasy Bio and PetroChina Co Ltd is 0.45 (i.e., Very weak diversification). The correlation of Shenzhen Bioeasy 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.

Shenzhen Bioeasy Correlation With Market

Significant diversification

The correlation between Shenzhen Bioeasy Biotechnology and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Bioeasy Biotechnology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shenzhen Stock

0.92	688256	Cambricon Technologies	Pair Corr
0.95	688047	Loongson Technology Corp	Pair Corr
0.9	688318	Shenzhen Fortune Trend	Pair Corr
0.87	600106	Chongqing Road Bridge	Pair Corr
0.86	600769	Wuhan Xianglong Power	Pair Corr
0.88	301269	Empyrean Technology	Pair Corr
0.86	002625	Kuang Chi Technologies	Pair Corr
0.86	688498	Yuanjie Semiconductor	Pair Corr
0.85	002236	Zhejiang Dahua Technology	Pair Corr
0.87	900957	Shanghai Lingyun Ind	Pair Corr

Related Correlations Analysis

	601857	600941	600938	601318	600028	601728	601668	600519	601088	601628
601857		0.58	0.86	-0.03	0.89	0.01	0.23	0.23	0.65	-0.14	601857
600941	0.58		0.72	0.43	0.57	0.52	0.56	0.58	0.76	0.35	600941
600938	0.86	0.72		0.32	0.77	0.27	0.46	0.43	0.81	0.2	600938
601318	-0.03	0.43	0.32		-0.24	0.92	0.92	0.88	0.55	0.98	601318
600028	0.89	0.57	0.77	-0.24		-0.16	-0.02	0.01	0.56	-0.32	600028
601728	0.01	0.52	0.27	0.92	-0.16		0.9	0.86	0.59	0.91	601728
601668	0.23	0.56	0.46	0.92	-0.02	0.9		0.88	0.68	0.86	601668
600519	0.23	0.58	0.43	0.88	0.01	0.86	0.88		0.65	0.85	600519
601088	0.65	0.76	0.81	0.55	0.56	0.59	0.68	0.65		0.46	601088
601628	-0.14	0.35	0.2	0.98	-0.32	0.91	0.86	0.85	0.46		601628
	601857	600941	600938	601318	600028	601728	601668	600519	601088	601628

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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

601628	+ 0.98	601318
601728	+ 0.92	601318
601668	+ 0.92	601318
601628	+ 0.91	601728
601668	+ 0.9	601728
600028	+ 0.89	601857

High negative correlations

601628	- 0.32	600028
600028	- 0.24	601318
601728	- 0.16	600028
601628	- 0.14	601857
601318	- 0.03	601857
601668	- 0.02	600028

Risk-Adjusted Indicators

There is a big difference between Shenzhen Stock performing well and Shenzhen Bioeasy 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 Shenzhen Bioeasy'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
601857	1.41	(0.12)	0.00	0.89	0.00	0.00	3.43	(3.33)	17.17
600941	1.01	0.01	(0.08)	0.16	1.15	(1.15)	2.05	(2.04)	8.38
600938	1.57	(0.02)	0.00	0.21	0.00	0.00	3.25	(3.62)	16.49
601318	1.84	0.33	0.11	0.79	1.85	(2.30)	5.83	(2.83)	19.77
600028	1.44	(0.08)	0.00	(0.52)	0.00	0.00	4.21	(3.26)	10.77
601728	1.48	0.08	0.00	0.37	1.77	(1.65)	3.49	(2.81)	11.12
601668	2.12	0.05	0.00	0.22	2.56	(2.39)	5.25	(3.97)	15.78
600519	1.69	0.08	0.00	0.29	1.87	(1.99)	6.55	(2.98)	16.71
601088	1.53	0.02	(0.06)	(0.59)	1.73	(1.66)	3.35	(2.37)	10.24
601628	2.04	0.43	0.13	1.02	2.34	(2.32)	6.42	(3.18)	20.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shenzhen Bioeasy 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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