GANGLONG CHINA Correlations

52J Stock

EUR 0.01 0.0005 5.88%

The current 90-days correlation between GANGLONG CHINA PRGRLTD and China BlueChemical is 0.32 (i.e., Weak diversification). The correlation of GANGLONG CHINA 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.

GANGLONG CHINA Correlation With Market

Significant diversification

The correlation between GANGLONG CHINA PRGRLTD and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GANGLONG CHINA PRGRLTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with GANGLONG Stock

0.74	CHZ	China Resources Land	Pair Corr
0.76	6FLA	SEAZEN GROUP LTD	Pair Corr
0.64	A1A	Atrium Ljungberg	Pair Corr
0.63	RDH	RADIANCE HLDGS GRPHD	Pair Corr
0.68	6CI	CIFI Holdings	Pair Corr
0.7	0RJ	REDSUN PROPERTIES	Pair Corr

Moving against GANGLONG Stock

0.46	7PI	Poste Italiane SpA	Pair Corr
0.44	NSE	Nomura Holdings	Pair Corr
0.31	7RY	Ryerson Holding	Pair Corr
0.55	MKL	Atea ASA	Pair Corr
0.48	3O8	Omeros	Pair Corr
0.47	BKJ	Brinker International	Pair Corr
0.47	APC	Apple Inc	Pair Corr
0.45	GM0N	GLOBUS MEDICAL A	Pair Corr
0.44	TL0	Tesla Inc	Pair Corr
0.43	DGS	Envela Corp	Pair Corr
0.42	GTX	Gentex	Pair Corr
0.41	HU3	Huntington Bancshares	Pair Corr
0.39	NU42	Ribbon Communications	Pair Corr
0.38	1DH	Clarkson PLC	Pair Corr
0.38	EMR	EMERSON ELECTRIC	Pair Corr
0.35	TC7	TIANDE CHEMICAL	Pair Corr
0.55	8CF	CLOUDFLARE INC A	Pair Corr
0.5	MNL	Gruppo Mutuionline SpA	Pair Corr
0.46	BLQA	BlackRock	Pair Corr
0.44	G8L	GREENLIGHT CAP RE	Pair Corr

Related Correlations Analysis

	NSC	7SN	GCB	20V	S9M	BBEA	H1Q	SEH
NSC		0.13	0.06	0.37	-0.25	0.1	-0.21	0.38	NSC
7SN	0.13		0.75	-0.44	0.26	-0.67	-0.25	0.73	7SN
GCB	0.06	0.75		-0.59	0.2	-0.79	-0.3	0.77	GCB
20V	0.37	-0.44	-0.59		-0.23	0.87	0.11	-0.45	20V
S9M	-0.25	0.26	0.2	-0.23		-0.11	0.52	0.11	S9M
BBEA	0.1	-0.67	-0.79	0.87	-0.11		0.3	-0.73	BBEA
H1Q	-0.21	-0.25	-0.3	0.11	0.52	0.3		-0.21	H1Q
SEH	0.38	0.73	0.77	-0.45	0.11	-0.73	-0.21		SEH
	NSC	7SN	GCB	20V	S9M	BBEA	H1Q	SEH

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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

BBEA	+ 0.87	20V
SEH	+ 0.77	GCB
GCB	+ 0.75	7SN
SEH	+ 0.73	7SN
H1Q	+ 0.52	S9M
SEH	+ 0.38	NSC

High negative correlations

BBEA	- 0.79	GCB
SEH	- 0.73	BBEA
BBEA	- 0.67	7SN
20V	- 0.59	GCB
SEH	- 0.45	20V
20V	- 0.44	7SN

Risk-Adjusted Indicators

There is a big difference between GANGLONG Stock performing well and GANGLONG CHINA 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 GANGLONG CHINA'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
NSC	0.90	(0.12)	0.00	(0.24)	0.00	0.00	1.82	(1.92)	6.46
7SN	1.45	(0.15)	0.00	(10.79)	0.00	0.00	2.53	(2.67)	8.02
GCB	2.10	(0.26)	0.00	(0.65)	0.00	0.00	4.55	(4.35)	16.35
20V	1.13	0.07	0.03	0.21	1.33	(1.33)	2.88	(2.15)	9.90
S9M	1.95	0.10	0.02	(1.27)	2.60	(2.41)	3.88	(3.14)	16.62
BBEA	1.39	0.27	0.18	0.78	1.16	(1.66)	2.90	(1.95)	7.13
H1Q	2.35	0.31	0.05	0.79	2.50	(5.88)	8.33	(4.76)	16.70
SEH	1.45	(0.27)	0.00	(0.55)	0.00	0.00	3.09	(3.48)	8.63

Be your own money manager

Our tools can tell you how much better you can do entering a position in GANGLONG CHINA 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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