Fuyao Glass Correlations

4FG Stock

EUR 6.25 0.05 0.79%

The current 90-days correlation between Fuyao Glass Industry and PT Astra International is -0.07 (i.e., Good diversification). The correlation of Fuyao Glass 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.

Fuyao Glass Correlation With Market

Average diversification

The correlation between Fuyao Glass Industry and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fuyao Glass Industry and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fuyao Stock

0.71	74F	LIFE BANC SPLIT	Pair Corr
0.72	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Fuyao Stock

0.89	SG9	Strix Group Plc	Pair Corr
0.74	DBPD	Xtrackers ShortDAX	Pair Corr
0.61	0KJ	ABERFORTH SMCOS TRLS	Pair Corr
0.4	BGTA	Bridgestone	Pair Corr
0.36	D7A	Aptiv PLC	Pair Corr
0.32	LKQ1	LKQ Corporation	Pair Corr

Related Correlations Analysis

	ASJA	8SP	6NM	39O1	2DG	TM9	TLX	INVN
ASJA		0.21	0.17	0.21	0.24	0.27	-0.15	-0.23	ASJA
8SP	0.21		0.55	0.29	0.78	0.33	0.06	-0.77	8SP
6NM	0.17	0.55		0.46	0.21	0.13	0.39	-0.16	6NM
39O1	0.21	0.29	0.46		0.15	0.41	-0.22	-0.01	39O1
2DG	0.24	0.78	0.21	0.15		0.24	-0.17	-0.86	2DG
TM9	0.27	0.33	0.13	0.41	0.24		-0.21	-0.19	TM9
TLX	-0.15	0.06	0.39	-0.22	-0.17	-0.21		0.19	TLX
INVN	-0.23	-0.77	-0.16	-0.01	-0.86	-0.19	0.19		INVN
	ASJA	8SP	6NM	39O1	2DG	TM9	TLX	INVN

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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

2DG	+ 0.78	8SP
6NM	+ 0.55	8SP
39O1	+ 0.46	6NM
TM9	+ 0.41	39O1
TLX	+ 0.39	6NM
TM9	+ 0.33	8SP

High negative correlations

INVN	- 0.86	2DG
INVN	- 0.77	8SP
INVN	- 0.23	ASJA
TLX	- 0.22	39O1
TLX	- 0.21	TM9
INVN	- 0.19	TM9

Risk-Adjusted Indicators

There is a big difference between Fuyao Stock performing well and Fuyao Glass 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 Fuyao Glass' 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
ASJA	2.15	0.19	0.00	(0.19)	3.09	(5.19)	6.67	(6.67)	23.21
8SP	2.08	(0.07)	0.00	0.44	0.00	0.00	3.36	(4.74)	20.22
6NM	1.25	(0.01)	(0.02)	0.11	1.71	(1.42)	2.89	(2.69)	9.64
39O1	3.53	0.07	(0.01)	2.06	3.53	(4.94)	8.41	(5.47)	24.06
2DG	4.42	(1.04)	0.00	(0.43)	0.00	0.00	9.09	(8.57)	52.42
TM9	2.78	0.06	0.00	0.03	0.00	0.00	5.56	(6.43)	36.50
TLX	0.94	(0.04)	(0.09)	0.05	1.13	(1.07)	2.67	(1.64)	7.58
INVN	2.10	0.09	0.04	0.21	2.41	(2.48)	5.59	(4.25)	14.01

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fuyao Glass 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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