Tianjin Realty Correlations

600322 Stock

2.37 0.06 2.60%

The current 90-days correlation between Tianjin Realty Devel and Xinjiang Tianrun Dairy is 0.49 (i.e., Very weak diversification). The correlation of Tianjin Realty 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.

Tianjin Realty Correlation With Market

Good diversification

The correlation between Tianjin Realty Development and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tianjin Realty Development and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tianjin Stock

0.88	601628	China Life Insurance	Pair Corr
0.85	601059	Cinda Securities	Pair Corr
0.88	688072	Piotech Inc A	Pair Corr
0.96	601198	Dongxing Sec	Pair Corr
0.91	688293	Shanghai OPM Biosciences	Pair Corr
0.85	688126	National Silicon Industry	Pair Corr
0.85	000504	Nanhua Bio Medicine	Pair Corr
0.88	688521	VeriSilicon Microelectronics	Pair Corr
0.71	300396	Dirui Industrial	Pair Corr
0.85	900957	Shanghai Lingyun Ind	Pair Corr

Related Correlations Analysis

	600419	001215	002650	000688	002803	300099	603979	603969
600419		0.97	0.89	0.91	0.95	0.93	0.3	0.93	600419
001215	0.97		0.91	0.88	0.95	0.9	0.25	0.88	001215
002650	0.89	0.91		0.79	0.87	0.77	-0.03	0.79	002650
000688	0.91	0.88	0.79		0.93	0.91	0.3	0.92	000688
002803	0.95	0.95	0.87	0.93		0.91	0.29	0.9	002803
300099	0.93	0.9	0.77	0.91	0.91		0.31	0.97	300099
603979	0.3	0.25	-0.03	0.3	0.29	0.31		0.3	603979
603969	0.93	0.88	0.79	0.92	0.9	0.97	0.3		603969
	600419	001215	002650	000688	002803	300099	603979	603969

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

001215	+ 0.97	600419
603969	+ 0.97	300099
002803	+ 0.95	600419
002803	+ 0.95	001215
300099	+ 0.93	600419
603969	+ 0.93	600419

High negative correlations

603979

- 0.03

002650

Risk-Adjusted Indicators

There is a big difference between Tianjin Stock performing well and Tianjin Realty 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 Tianjin Realty'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
600419	2.05	0.42	0.13	1.43	2.37	(2.34)	4.99	(4.11)	17.25
001215	3.04	0.65	0.17	2.10	2.74	(3.58)	9.99	(5.27)	20.01
002650	3.50	1.46	0.32	35.67	3.18	(4.05)	5.13	(4.96)	10.28
000688	2.73	0.79	0.16	(0.59)	2.81	(2.97)	7.18	(5.18)	19.73
002803	2.62	0.68	0.20	9.49	2.52	(2.99)	8.65	(3.09)	20.03
300099	2.83	0.66	0.13	(2.48)	3.56	(3.01)	5.48	(6.21)	27.46
603979	2.32	(0.02)	0.00	0.19	0.00	0.00	6.06	(4.93)	18.40
603969	2.11	0.62	0.20	(1.16)	1.73	(2.79)	6.35	(4.05)	12.65

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tianjin Realty 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.

Did you try this?

Run Watchlist Optimization Now

Watchlist Optimization

Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC