Chongqing Sulian Correlations

301397 Stock

29.26 0.07 0.24%

The current 90-days correlation between Chongqing Sulian Plastic and BeiGene is 0.46 (i.e., Very weak diversification). The correlation of Chongqing Sulian 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.

Chongqing Sulian Correlation With Market

Good diversification

The correlation between Chongqing Sulian Plastic and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chongqing Sulian Plastic and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	688235	600519	688169	603444	600941	688399	000661	002371	300750
688235		0.79	0.36	0.71	0.54	0.18	0.82	0.76	0.8	688235
600519	0.79		0.25	0.7	0.61	0.35	0.87	0.74	0.83	600519
688169	0.36	0.25		0.67	0.22	0.45	0.05	-0.13	0.04	688169
603444	0.71	0.7	0.67		0.68	0.41	0.54	0.35	0.52	603444
600941	0.54	0.61	0.22	0.68		-0.02	0.51	0.35	0.54	600941
688399	0.18	0.35	0.45	0.41	-0.02		0.19	0.07	0.1	688399
000661	0.82	0.87	0.05	0.54	0.51	0.19		0.94	0.98	000661
002371	0.76	0.74	-0.13	0.35	0.35	0.07	0.94		0.94	002371
300750	0.8	0.83	0.04	0.52	0.54	0.1	0.98	0.94		300750
	688235	600519	688169	603444	600941	688399	000661	002371	300750

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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

300750	+ 0.98	000661
002371	+ 0.94	000661
300750	+ 0.94	002371
000661	+ 0.87	600519
300750	+ 0.83	600519
000661	+ 0.82	688235

High negative correlations

002371	- 0.13	688169
688399	- 0.02	600941

Risk-Adjusted Indicators

There is a big difference between Chongqing Stock performing well and Chongqing Sulian 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 Chongqing Sulian'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
688235	2.58	0.14	0.03	0.30	2.99	(2.89)	6.23	(4.77)	18.86
600519	1.61	0.12	0.03	0.39	1.75	(1.94)	6.55	(2.85)	16.71
688169	3.26	0.13	0.01	1.49	4.06	(3.62)	5.74	(5.72)	34.80
603444	2.60	0.25	0.05	1.05	3.27	(2.75)	5.75	(4.79)	18.75
600941	0.98	0.04	(0.05)	0.39	1.08	(1.22)	2.05	(2.04)	8.38
688399	1.92	(0.02)	0.00	0.15	0.00	0.00	4.04	(4.33)	20.86
000661	2.28	0.50	0.17	(20.82)	1.95	(2.81)	7.55	(3.35)	17.13
002371	2.34	0.36	0.12	0.88	2.15	(2.64)	9.80	(3.99)	15.93
300750	2.73	0.69	0.16	(3.91)	3.04	(3.27)	7.94	(3.41)	33.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chongqing Sulian 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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