Shanghai Oriental Correlations

600637 Stock

7.90 0.12 1.50%

The current 90-days correlation between Shanghai Oriental Pearl and Huafa Industrial Co is 0.05 (i.e., Significant diversification). The correlation of Shanghai Oriental 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.

Shanghai Oriental Correlation With Market

Average diversification

The correlation between Shanghai Oriental Pearl and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Oriental Pearl and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shanghai Stock

0.84	600258	BTG Hotels Group	Pair Corr
0.7	002575	Guangdong Qunxing Toys	Pair Corr
0.84	300512	Hangzhou Zhongya Mac	Pair Corr
0.7	002148	Beijing Bewinner Com	Pair Corr
0.85	000006	Shenzhen Zhenye Group	Pair Corr
0.68	002939	China Great Wall	Pair Corr
0.8	600853	Longjian Road Bridge	Pair Corr
0.86	600864	Harbin Hatou Investment	Pair Corr
0.9	603928	Suzhou Xingye Material	Pair Corr
0.79	600719	Dalian Thermal Power	Pair Corr
0.9	300013	Jiangsu Xinning Modern	Pair Corr
0.83	002084	Guangzhou Seagull Kitchen	Pair Corr
0.75	601007	Jinling Hotel Corp	Pair Corr
0.74	301025	Dook Media Group	Pair Corr
0.95	600010	Inner Mongolia BaoTou	Pair Corr
0.92	000035	China Tianying	Pair Corr
0.72	600201	Jinyu Bio Technology	Pair Corr
0.76	600616	Shanghai Jinfeng Wine	Pair Corr
0.78	002303	Shenzhen MYS Environ	Pair Corr
0.79	002074	Gotion High tech	Pair Corr
0.83	000909	Soyea Technology	Pair Corr
0.85	002551	Shenzhen Glory Medical	Pair Corr
0.71	300813	Zhejiang Tailin Bioe	Pair Corr

Moving against Shanghai Stock

0.34

600938

CNOOC Limited

Pair Corr

Related Correlations Analysis

	601668	600048	000002	001979	600325	601995	600519	600153	300750	600340
601668		0.86	0.81	0.67	0.81	0.78	0.81	0.77	0.69	0.26	601668
600048	0.86		0.95	0.84	0.97	0.74	0.75	0.53	0.5	0.16	600048
000002	0.81	0.95		0.76	0.95	0.76	0.78	0.45	0.46	0.01	000002
001979	0.67	0.84	0.76		0.85	0.71	0.69	0.55	0.55	0.46	001979
600325	0.81	0.97	0.95	0.85		0.74	0.76	0.49	0.5	0.15	600325
601995	0.78	0.74	0.76	0.71	0.74		0.89	0.7	0.82	0.39	601995
600519	0.81	0.75	0.78	0.69	0.76	0.89		0.71	0.7	0.22	600519
600153	0.77	0.53	0.45	0.55	0.49	0.7	0.71		0.85	0.6	600153
300750	0.69	0.5	0.46	0.55	0.5	0.82	0.7	0.85		0.67	300750
600340	0.26	0.16	0.01	0.46	0.15	0.39	0.22	0.6	0.67		600340
	601668	600048	000002	001979	600325	601995	600519	600153	300750	600340

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Risk-Adjusted Indicators

There is a big difference between Shanghai Stock performing well and Shanghai Oriental 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 Shanghai Oriental'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
601668	1.86	0.33	0.11	0.99	2.16	(2.03)	5.25	(3.67)	15.78
600048	2.10	0.25	0.06	2.59	2.93	(2.30)	5.27	(3.62)	20.02
000002	2.35	0.22	0.05	(0.89)	2.85	(2.64)	8.70	(3.22)	20.01
001979	2.22	0.13	0.03	0.91	2.95	(2.18)	4.99	(3.86)	19.96
600325	1.99	0.15	0.04	0.68	2.72	(2.10)	3.81	(3.24)	20.03
601995	2.46	0.38	0.11	(2.09)	2.73	(3.05)	8.00	(4.75)	20.01
600519	1.62	0.30	0.14	1.03	1.57	(2.01)	6.55	(2.41)	16.71
600153	2.01	0.53	0.18	(1.72)	2.17	(2.42)	6.39	(3.19)	19.45
300750	2.75	0.59	0.16	(2.67)	2.99	(3.29)	7.94	(3.41)	33.42
600340	5.61	1.81	0.28	(5.52)	4.87	(6.66)	10.14	(9.82)	20.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shanghai Oriental 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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