Gansu Yasheng Correlations

600108 Stock   3.10  0.08  2.52%   
The current 90-days correlation between Gansu Yasheng Industrial and Agricultural Bank of is 0.09 (i.e., Significant diversification). The correlation of Gansu Yasheng 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.

Gansu Yasheng Correlation With Market

Good diversification

The correlation between Gansu Yasheng Industrial and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gansu Yasheng Industrial and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Gansu Yasheng could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gansu Yasheng 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 Gansu Yasheng - 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 Gansu Yasheng Industrial to buy it.

Moving together with Gansu Stock

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  0.85605499 Eastroc Beverage SplitPairCorr
  0.97603180 Xiamen GoldenhomePairCorr
  0.91000042 Shenzhen CentralconPairCorr
  0.71000598 Chengdu Xingrong InvPairCorr
  0.83002822 Shenzhen ZhongzhuangPairCorr
  0.91000839 CITIC Guoan InformationPairCorr
  0.8600399 Fushun Special SteelPairCorr
  0.74601998 China Citic BankPairCorr
  0.9000555 Digital China InformationPairCorr
  0.92002995 Beijing Quanshi WorldPairCorr
  0.93002941 Xinjiang CommunicationsPairCorr
  0.86900957 Shanghai Lingyun IndPairCorr
  0.97002491 Tongding InterconnectionPairCorr
  0.89301370 GKHT Medical TechnologyPairCorr
  0.93688203 Zhejiang HISUN BiomaPairCorr
  0.87600459 Sino Platinum MetalsPairCorr
  0.93002792 Tongyu CommunicationPairCorr
  0.93688019 Anji MicroelectronicsPairCorr
  0.94002605 Shanghai Yaoji PlayingPairCorr
  0.8002429 Shenzhen MTCPairCorr

Moving against Gansu Stock

  0.39600028 China Petroleum ChemicalPairCorr

Related Correlations Analysis

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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   
601318601628
601318600036
601939601398
601166600036
601988601288
601939601288
  
High negative correlations   
601628601857

Risk-Adjusted Indicators

There is a big difference between Gansu Stock performing well and Gansu Yasheng 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 Gansu Yasheng'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gansu Yasheng 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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