Hangzhou Guotai Correlations

Stocks . China . 
Stock . Hangzhou Guotai Environmental
301203 Stock   29.26  0.11  0.37%   
The current 90-days correlation between Hangzhou Guotai Envi and Loctek Ergonomic Technology is 0.67 (i.e., Poor diversification). The correlation of Hangzhou Guotai 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.

Hangzhou Guotai Correlation With Market

Significant diversification

The correlation between Hangzhou Guotai Environmental and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Guotai Environmental and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hangzhou Guotai could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hangzhou Guotai 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 Hangzhou Guotai - 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 Hangzhou Guotai Environmental to buy it.

Moving together with Hangzhou Stock

  0.61601398 Industrial and CommercialPairCorr
  0.7601939 China Construction BankPairCorr
  0.81600036 China Merchants BankPairCorr
  0.68601166 Industrial BankPairCorr
  0.64600000 Shanghai Pudong DevePairCorr
  0.8601628 China Life InsurancePairCorr
  0.78601318 Ping An InsurancePairCorr
  0.81603969 Tianjin Silvery DragonPairCorr
  0.8002074 Gotion High techPairCorr
  0.92002152 GRG Banking EquipmentPairCorr
  0.79600498 Fiberhome TelecommunicatioPairCorr
  0.86000661 Changchun High NewPairCorr
  0.88605128 Shanghai Yanpu MetalPairCorr
  0.73603103 Hengdian EntertainmentPairCorr
  0.74600515 Hainan HNA InfrastructurePairCorr
  0.78600584 JCET GroupPairCorr
  0.89600335 Sinomach AutomobilePairCorr
  0.75603068 Beken CorpPairCorr
  0.79603818 Qumei Furniture GroupPairCorr
  0.89300608 SI TECH InformationPairCorr
  0.68000889 ZJBC Information TecPairCorr
  0.7000995 Gansu Huangtai WinePairCorr
  0.81601059 Cinda SecuritiesPairCorr
  0.73603800 Suzhou Douson DrillingPairCorr
  0.88000761 Bengang Steel PlatesPairCorr
  0.71601002 Gem Year IndustrialPairCorr
  0.87000560 5I5j Holding GroupPairCorr
  0.83601598 Sinotrans ClassPairCorr
  0.78301390 Hangzhou Gisway InfoPairCorr
  0.91688119 Sinosteel Luonai MatPairCorr
  0.75600755 Xiamen ITG GroupPairCorr
  0.78002946 New Hope DairyPairCorr
  0.69000909 Soyea TechnologyPairCorr
  0.89300815 Eit EnvironmentalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Hangzhou Stock performing well and Hangzhou Guotai 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 Hangzhou Guotai'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
601615  2.72  0.73  0.26  4.36  2.39 
(3.44)
 7.78 
(3.82)
 18.14 
159681  2.97  0.69  0.16 (12.28) 3.05 
(4.78)
 8.99 
(4.00)
 36.32 
159005  0.01  0.00  0.00 (1.36) 0.00 
 0.00 
 0.01 
(0.01)
 0.14 
300729  2.31  0.29  0.07  1.01  3.18 
(2.47)
 6.27 
(4.21)
 24.80 
002952  3.12  0.51  0.11  1.03  3.95 
(3.10)
 9.02 
(6.36)
 19.99 
516220  1.71  0.31  0.10 (1.85) 1.73 
(2.77)
 5.26 
(3.03)
 17.74 
002096  2.15  0.22  0.08  1.27  2.36 
(2.38)
 4.30 
(3.86)
 13.27 
002999  2.61  0.30  0.08  0.41  3.21 
(2.87)
 6.20 
(5.34)
 17.06 
300243  3.19  0.59  0.12 (0.86) 3.92 
(3.55)
 10.41 
(5.67)
 31.77 
603269  2.77  0.53  0.16  5.99  2.79 
(3.21)
 5.98 
(5.73)
 16.65 

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Our tools can tell you how much better you can do entering a position in Hangzhou Guotai 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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