Zhejiang Yayi Correlations

301113 Stock

27.36 0.09 0.33%

The current 90-days correlation between Zhejiang Yayi Metal and Industrial and Commercial is 0.14 (i.e., Average diversification). The correlation of Zhejiang Yayi 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.

Zhejiang Yayi Correlation With Market

Good diversification

The correlation between Zhejiang Yayi Metal and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhejiang Yayi Metal and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Zhejiang Stock

0.95	688256	Cambricon Technologies	Pair Corr
0.97	688047	Loongson Technology Corp	Pair Corr
0.97	688318	Shenzhen Fortune Trend	Pair Corr
0.93	600106	Chongqing Road Bridge	Pair Corr
0.91	600769	Wuhan Xianglong Power	Pair Corr
0.92	301269	Empyrean Technology	Pair Corr
0.92	688498	Yuanjie Semiconductor	Pair Corr
0.92	002625	Kuang Chi Technologies	Pair Corr
0.97	600883	Yunnan Bowin Technology	Pair Corr

Related Correlations Analysis

	601398	601288	601939	601988	601658	601328	601318	600036	601166	601998
601398		0.93	0.96	0.83	0.8	0.96	0.46	0.65	0.68	0.86	601398
601288	0.93		0.94	0.76	0.84	0.89	0.49	0.66	0.73	0.83	601288
601939	0.96	0.94		0.8	0.91	0.88	0.65	0.81	0.81	0.92	601939
601988	0.83	0.76	0.8		0.68	0.83	0.37	0.54	0.59	0.74	601988
601658	0.8	0.84	0.91	0.68		0.67	0.85	0.94	0.95	0.93	601658
601328	0.96	0.89	0.88	0.83	0.67		0.27	0.49	0.54	0.76	601328
601318	0.46	0.49	0.65	0.37	0.85	0.27		0.97	0.92	0.79	601318
600036	0.65	0.66	0.81	0.54	0.94	0.49	0.97		0.96	0.89	600036
601166	0.68	0.73	0.81	0.59	0.95	0.54	0.92	0.96		0.9	601166
601998	0.86	0.83	0.92	0.74	0.93	0.76	0.79	0.89	0.9		601998
	601398	601288	601939	601988	601658	601328	601318	600036	601166	601998

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Risk-Adjusted Indicators

There is a big difference between Zhejiang Stock performing well and Zhejiang Yayi 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 Zhejiang Yayi'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
601398	1.18	(0.08)	0.00	(0.65)	0.00	0.00	2.83	(3.06)	8.14
601288	1.26	(0.03)	0.00	(0.45)	0.00	0.00	3.21	(3.89)	8.24
601939	1.27	(0.06)	0.00	(0.48)	0.00	0.00	3.32	(3.86)	8.64
601988	1.19	0.06	(0.06)	(0.07)	1.48	(1.44)	2.67	(2.86)	7.70
601658	1.43	0.06	(0.02)	0.44	1.77	(1.61)	3.49	(2.84)	9.13
601328	1.38	(0.15)	0.00	(2.09)	0.00	0.00	3.26	(3.60)	10.82
601318	1.85	0.36	0.13	0.85	1.84	(2.27)	5.83	(2.83)	19.77
600036	1.52	0.15	0.02	3.59	1.81	(1.78)	4.65	(2.56)	13.83
601166	1.43	0.10	0.01	0.50	1.61	(1.61)	3.84	(2.56)	12.07
601998	1.53	0.04	(0.03)	(2.10)	2.08	(1.63)	3.02	(3.06)	13.33

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Our tools can tell you how much better you can do entering a position in Zhejiang Yayi 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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Zhejiang Yayi Corporate Executives

Elected by the shareholders, the Zhejiang Yayi's board of directors comprises two types of representatives: Zhejiang Yayi inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zhejiang. The board's role is to monitor Zhejiang Yayi's management team and ensure that shareholders' interests are well served. Zhejiang Yayi'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, Zhejiang Yayi's outside directors are responsible for providing unbiased perspectives on the board's policies.

Liying Cheng

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