Shandong Sanyuan Correlations

301206 Stock

28.12 0.09 0.32%

The current 90-days correlation between Shandong Sanyuan Bio and Poly Real Estate is 0.6 (i.e., Poor diversification). The correlation of Shandong Sanyuan 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.

Shandong Sanyuan Correlation With Market

Significant diversification

The correlation between Shandong Sanyuan Biotechnology and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shandong Sanyuan Biotechnology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shandong Stock

0.75	601658	Postal Savings Bank	Pair Corr
0.93	601318	Ping An Insurance	Pair Corr
0.89	600036	China Merchants Bank	Pair Corr
0.8	601166	Industrial Bank	Pair Corr
0.77	601998	China Citic Bank	Pair Corr

Related Correlations Analysis

	600048	000002	001979	600325	601995	600519	600153	300750	600340
600048		0.98	0.95	0.99	0.93	0.87	0.96	0.9	0.67	600048
000002	0.98		0.92	0.98	0.95	0.88	0.96	0.91	0.6	000002
001979	0.95	0.92		0.95	0.91	0.83	0.94	0.9	0.78	001979
600325	0.99	0.98	0.95		0.93	0.89	0.96	0.92	0.66	600325
601995	0.93	0.95	0.91	0.93		0.89	0.94	0.96	0.67	601995
600519	0.87	0.88	0.83	0.89	0.89		0.85	0.84	0.55	600519
600153	0.96	0.96	0.94	0.96	0.94	0.85		0.95	0.7	600153
300750	0.9	0.91	0.9	0.92	0.96	0.84	0.95		0.77	300750
600340	0.67	0.6	0.78	0.66	0.67	0.55	0.7	0.77		600340
	600048	000002	001979	600325	601995	600519	600153	300750	600340

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Risk-Adjusted Indicators

There is a big difference between Shandong Stock performing well and Shandong Sanyuan 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 Shandong Sanyuan'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
600048	2.20	0.44	0.10	4.05	2.89	(2.45)	5.32	(3.33)	20.02
000002	2.50	0.54	0.13	(3.70)	2.73	(2.78)	8.70	(3.84)	20.01
001979	2.55	0.40	0.09	1.70	3.09	(2.62)	4.99	(4.33)	19.96
600325	2.05	0.37	0.10	2.20	2.64	(2.27)	6.36	(3.51)	20.03
601995	2.47	0.49	0.11	(4.51)	2.78	(2.85)	8.00	(4.75)	20.01
600519	1.68	0.09	0.02	0.29	1.84	(1.98)	6.55	(2.98)	16.71
600153	2.09	0.55	0.17	4.76	2.12	(2.46)	6.39	(3.19)	19.45
300750	2.70	0.63	0.15	(20.91)	3.05	(3.29)	7.94	(3.41)	33.42
600340	5.10	2.10	0.33	(2.76)	4.19	(6.55)	10.14	(9.70)	20.27

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shandong Sanyuan 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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