Yoantion Industrial Correlations

Stocks . China . 
Stock . Yoantion Industrial IncLtd
301053 Stock   20.27  1.39  6.42%   
The current 90-days correlation between Yoantion Industrial and Bank of China is 0.16 (i.e., Average diversification). The correlation of Yoantion Industrial 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.

Yoantion Industrial Correlation With Market

Significant diversification

The correlation between Yoantion Industrial IncLtd 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 Yoantion Industrial IncLtd and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Yoantion Industrial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Yoantion Industrial 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 Yoantion Industrial - 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 Yoantion Industrial IncLtd to buy it.

Moving together with Yoantion Stock

  0.63601398 Industrial and CommercialPairCorr
  0.73601939 China Construction BankPairCorr
  0.82601658 Postal Savings BankPairCorr
  0.7601328 Bank of CommunicationsPairCorr
  0.89601318 Ping An InsurancePairCorr
  0.89600036 China Merchants BankPairCorr
  0.79601166 Industrial BankPairCorr
  0.82601998 China Citic BankPairCorr
  0.85300880 Ningbo Jianan ElectronicsPairCorr
  0.77603969 Tianjin Silvery DragonPairCorr
  0.63603365 Shanghai Shuixing HomePairCorr
  0.81600335 Sinomach AutomobilePairCorr
  0.84002074 Gotion High techPairCorr
  0.69601929 JiShi MediaPairCorr
  0.82600498 Fiberhome TelecommunicatioPairCorr
  0.71300825 Iat Automobile TechnologyPairCorr
  0.86000617 CNPC CapitalPairCorr
  0.86000560 5I5j Holding GroupPairCorr
  0.86000661 Changchun High NewPairCorr
  0.75301390 Hangzhou Gisway InfoPairCorr
  0.7000428 Huatian Hotel GroupPairCorr
  0.87605128 Shanghai Yanpu MetalPairCorr
  0.76605377 Hangzhou Huawang NewPairCorr
  0.67002303 Shenzhen MYS EnvironPairCorr
  0.87002847 Yankershop FoodPairCorr
  0.93300608 SI TECH InformationPairCorr
  0.79002893 Beijing HuaYuanYiTongPairCorr
  0.92600633 Zhejiang Daily MediaPairCorr
  0.87002382 Blue Sail MedicalPairCorr
  0.66603068 Beken CorpPairCorr
  0.85688325 Guangdong CellwisePairCorr
  0.86688082 ACM Research ShanghaiPairCorr
  0.84688507 Shanghai Suochen InfPairCorr
  0.86300815 Eit EnvironmentalPairCorr
  0.77600719 Dalian Thermal PowerPairCorr
  0.84600584 JCET GroupPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Yoantion Stock performing well and Yoantion Industrial 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 Yoantion Industrial'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
601988  1.00  0.19  0.14  1.27  0.97 
(1.27)
 2.67 
(1.98)
 7.70 
600519  1.71  0.17  0.07  0.61  1.81 
(2.11)
 6.55 
(2.98)
 16.71 
601857  1.28  0.12  0.05 (4.50) 1.83 
(1.59)
 3.55 
(2.03)
 17.17 
601328  1.31  0.21  0.13  4.52  1.24 
(1.56)
 3.26 
(2.12)
 10.82 
600941  1.05  0.17  0.14 (8.04) 0.96 
(1.37)
 3.09 
(2.04)
 8.38 
601318  1.80  0.35  0.14  1.10  1.95 
(2.18)
 5.83 
(2.88)
 19.77 
600000  1.38  0.23  0.13  3.97  1.33 
(1.64)
 3.69 
(2.14)
 10.95 
601398  1.09  0.25  0.18  3.08  1.01 
(1.43)
 2.83 
(1.71)
 8.14 
600016  1.37  0.33  0.15  7.82  1.51 
(1.62)
 3.39 
(2.31)
 12.81 
600028  1.14  0.06  0.02  0.47  1.58 
(1.25)
 3.23 
(1.89)
 10.77 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Yoantion Industrial 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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